Market Action Report: Bitcoin, Ethereum, Ripple, Stellar and Litecoin Waver as BAT and ETC Rise on Coinbase Hype

The cryptocurrency values ​​took a turnaround this week as the negative market sentiment suppresses a minor rally in late July, with most major big ones taking a hit with confidence in the bitcoins waver . The positive news from the giant of the Coinbase cryptography, however, have provided both Ethereum Classic and Basic Token of attention with action immunity of the bear market .

Bitcoin, currently in first place by market capitalization, is down 2.49% in the last 24 hours. BTC has a market capitalization of $ 119.64 billion with a 24 hour volume of $ 3.91.

Chart of CryptoCompare

Bitcoin has fallen by 2.49% in the last 24 hours.

Bitcoin punished by trade in catastrophic futures

BTC prices plummeted by over $ 1,000 in the last week after a series of market events that shook investor confidence in the most valuable cryptocurrency. Despite the historical maximum of hashing power on the Bitcoin network, as well as the Bitcoin dominance rate of almost 50%, BTC has fallen below $ 7,000, a value not seen since mid-July.

critical role in the sudden devaluation of Bitcoin, with the Hong Kong-based exchange OKEx has recently triggered a "mechanism for managing the risk of loss of the company" due to the forced liquidation of a long-term position on a large scale July 31 from an anonymous futures dealer, who lost $ 416 million on a wrong bet on BTC prices.

An official announcement of OKEx highlights the fact that profitable futures traders will be subject to a 18% recovery to cover the staggering losses:

"When the insurance fund can not cover the total loss of margin calls , there is a complete recovery of account 1. In this case, only users who have a net profit on all three contracts for that week will be subject to clawback.We will take a portion of the profit in equal percentage from all qualified traders only to cover the difference between the liquidated price and the established price. "

Ethereum, currently in second place by market capitalization, is down 1.62% in the last 24 hours. ETH has a market capitalization of $ 41.12 billion with a 24-hour volume of $ 1.36 billion.

Chart by CryptoCompare

Ethereum is down 1.62% in the last 24 hours.

Ethereum finds no support

recorded a sharp increase in selling pressure in the last week, rising from a price at the end of July to more than $ 450 to $ 407. The ETH / BTC volume also saw a dramatic increase, with 1 ETH rising from 0.0560 BTC to 0.0586 BTC as traders avoid negative Bitcoin market shares.

The recent launch of the Ethereum Name Service, which allows ETH owners to attach their portfolio addresses to top-level Internet domain names, could potentially help Ethereum regain lost ground at the $ 412 level, encouraging traction with the buyers of Ethereum to exceed the current resistance level of $ 420.

XRP, currently in third place for market capitalization, is down 5.19% in the last 24 hours . The XRP has a market capitalization of $ 16.16 billion with a volume of 249.12 million dollars per 24 hours

Chart of CryptoCompare

The XRP is diminished by 5.19% in the last 24 hours.

Ripple breaks $ 0.45 Support

Ripple interbank payment platform has experienced a 6% decline in value in the last 24 hours, currently trading at $ 0.40. Sales pressure on XRP increased dramatically following a $ 0.450 support level break on August 1, slowing down during the week until a strong sell-off on August 8 saw Ripple plunge to $ 0.4 level

However, Arrington XRP Capital member Michael Arrington remains confident about the future of XRP, recently highlighting the benefits of Ripple in capital transfer during an interview with blocking Korean press block:

"Our first closing was over $ 50 million, and we shifted that money in 3 seconds, and it cost 20 or 30 cents to move those $ 50 or something millions of dollars. Ether can not be compared to this. "

Stellar, currently ranked 6th in the market, is down to 5.33% in the last 24 hours. XLM has a market capitalization of $ 4.37 billion with a 24-hour volume of $ 54.21 million

Chart of CryptoCompare

Stellar is down 5.33% in the last 24 hours.

Stellar Rises and Falls on Coinbase Announcement [19659017] Stellar open source remittance platform recorded a significant increase in value in the last month after the announcement of Coinbase that the platform is considering the listing of XML. The rebound of the post-July rebound exerted pressure on XLM prices, with a decline in value due to the bearish market sentiment from a July high of $ 0.33 to a current value of $ 0.23.

Promising partnerships are set to increase XLM values ​​should reverse trust market; however, the recent Stellar news has seen the platform partner with IBM and Veridium. An upcoming IPO launched by SatoshiPay, a content monetization platform that uses XLM for payment, may see XLM prices increase.

Litecoin, currently classified at the 7th market place, it is down 3.32% in the last 24 hours. LTC has a market capitalization of $ 4.24 billion with a 24-hour volume of $ 258.04 million

Chart of CryptoCompare

Litecoin has fallen by 3.32% in the last 24 hours

Litecoin Tests Nove-Month Low

Speed-focused Litecoin is currently suffering 24-hour losses of over 2.5 percent as LTC continues to suffer from pressure sales, currently trading at $ 73.98 USD and approaching again at the nine month lows of $ 70. LTC tested critical support levels at $ 72 on August 5 before briefly recovering to $ 76 until the bearish sentiment of the market, as well as a distressing BTC price, made lower Litecoin values ​​below $ 75.

However, Gemini rumors exchange support Litecoin could provide much needed capital injection for Litecoin, with Forbes reporting that the NYDFS has approved the exchange for list both Bitcoin Cash c he Litecoin. The founder of Litecoin, Charlie Lee, also announced that the upcoming HTC Exodus blockchain smartphone will offer native LTC support, potentially driving further adoption of LTC.

Ethereum Classic, currently at # 11 by market capitalization, is 13.9% in the last 24 hours. ETC has a market capitalization of $ 2.07 billion with a 24 hour volume of $ 536.16 million

Chart of CryptoCompare

Ethereum Classic has grown by 13.9% in the last 24 hours.

Ethereum Classic increases with Hp coinbase

Ethereum Classic has pushed against market sentiment, acquiring over 12 percent in the last 24 hours after the announcement of Coinbase announcing the finalization of ETC support for customers Coinbase Pro and Prime.

The addition of Ethereum Classic support to Robinhood, a zero-free cryptocurrency trading platform, has further increased ETC pricing, helping Ethereum Classic to climb from $ 16 to $ 20 in the last 7 days.

Base attention token, currently ranked 40th on the market, is on the rise 7.03% in the last 24 hours. BAT has a market capitalization of $ 275.65 million with a volume of $ 24 million.

Chart by CryptoCompare

The basic attention token has increased by 7.03% in the last 24 hours.

The basic attention token quietly captures the ground [19659017TheBasicAttentionTokenharegistratonotevoliguadagninielleultima24orecalcalcandoun-thatthat-subjective-current-subscribedinthexpressingthequestionofCoinbasequandoquotazionedell'TheETCisfinalized

Currently trading at $ 0.27, the BAT has captured more than 5%, with a volume of 24 hours more than $ 3.5 million USD.

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