Monday, November 12: cryptographic markets are witnessing a wave of stability, with most of the main activities seeing low-level fluctuations in both red and green, with few exceptions, as shown by Coin360 data.
Market display Source: Coin360
Bitcoin (BTC) is up about 0.85%, trading around $ 6,354 at the time of printing. After a period of protracted stability, the first currency saw a recent wave of downswing and traded below $ 6.400 in recent days. After a midweek minimum of $ 6,307 yesterday, on November 11, Bitcoin curbed its losses and pushed above the $ 6,350 mark.
In the week, the highest cryptocurrency is just a little down from the start of its weekly chart, a slight 0.4% red. In the month, Bitcoin is about one per cent.
Bitcoin 7-day price chart. Source: Cointelegraph Bitcoin Price Index
The market-leading Ethereum (ETH) company also recorded a fractional gain, rising by around three quarters of a percentage point to $ 210 at the time of printing. Correlating with Bitcoin, the altcoin saw a mid-week peak around $ 220 on November 7, declining in the days following a minimum of $ 207 on November 11 before recovering ground today.
In the week, the resource is just under one percent in the green, but the monthly growth is healthy by 8.5 percent.
Ethereum 7-day price table. Source: Cointelegraph Ethereum Price Index
Ripple (XRP) surpassed all the top ten coins on CoinMarketCap, closing nearly 6% growth at about $ 0.53 at the time of printing. While it was still below its weekly peak of over $ 0.55 on November 6th, Ripple recorded a sharp increase during the hours prior to the press, after being traded sideways at a lower price of around $ 0.51 in the days past.
During the week, Ripple's growth now stands at 5.2%, with monthly increases of 25.6%.
7 days price chart ripple. Source: Cointelegraph Ripple Price Index
Most of the other top ten coins on CoinMarketCap are in the green, as growth is below two percent, with the exception of Monco (XMR) anonymised, which has seen a solid gain of 3.35% to about $ 107.03.
After a period of heated polemics in view of its imminent fixed fork on November 15, Bitcoin Cash (BCH) fell slightly lower, falling by around 0.8% to trade at $ 527.74 at the time of the press.
Mati Greenspan, a senior eToro analyst, has today stressed on Twitter that despite "all this drama in BCH [Bitcoin Cash] and yet Google searches do not even come close to BTC [Bitcoin]. Tell me again, what is the real Bitcoin? "
Greenspan provided a screenshot of Google's trend analysis over the last 30 days, demonstrating that Bitcoin, sometimes referred to as Bitcoin Core, continues to significantly address Bitcoin Cash in terms of Internet searches.
Comparison between Google Bitcoin (BTC) and Bitcoin Cash (BCH) searches in the last 30 days. Source: Google Trends
The top twenty coins by market capitalization are seeing more mixed red and green, with the 15th highest ranked cryptographic NEM (XEM), a significant anomalous value, an increase of 16.3 percent at around $ 0.108 at the moment of the press. NEM saw a sudden, steep uptick during the first hours of trading to reach the peak at $ 0.114, before only slightly correcting it down before the printing time.
NEM 24 hour price chart. Source: CoinMarketCap
Altcoins DASH (DASH) and IOTA (MIOTA) have both seen above-average growth in the 24 hours, respectively 3.3% and 4.5% for $ 165.07 and $ 0.50 respectively .
Tezos (XTZ) and ZCash (ZEC) focused on privacy, ranked 18th and 19th place by market capitalization, falling slightly more than 2% on the day, respectively, trading at $ 1.29 and $ 127.44 respectively.
The total market capitalization of all cryptocurrencies is about $ 212.9 billion from the time of the press, down from a midweek maximum of about $ 220.7 billion on November 7th.
Weekly chart of the total market capitalization of all cryptocurrencies: Souce: CoinMarketCap
Today, the Japanese giant of the IT GMO Internet has published its third-quarter report (3Q), revealing a "historical performance" of its business segments related to cryptography, despite "the harsh external environment".
Meanwhile in China, a new blockchain alliance was formed by the Guangzhou City Blockchain Industry Association, the Hong Kong Blockchain Industry Association and the Macau University Innovation Center to collaborate on four new blockchain oriented finance platforms.