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Tuesday, October 30: Crypto's markets are mostly traded sideways after the recent drop occurred on Monday, October 29th. The first 20 cryptocurrencies for market capitalization are seeing mixed signals with insufficient fluctuations, with a total market capitalization of around $ 203 billion.
Market display from Coin360
After plunging the $ 6,400 threshold yesterday, Bitcoin (BTC) traded around $ 6,330 for most of the day. At the time of printing, the main cryptocurrency fell slightly by 0.13% and traded at $ 6.299, with an intraday peak of $ 6.364.
Weekly chart of Bitcoin prices. Source: Bitcoin price index
Ethereum (ETH) is down about 0.27% in the last 24 hours, trading at $ 196 at the time of printing. The second cryptocurrency by market capitalization fell below the price of $ 200 yesterday, and has since been around the same levels. Recently, Cointelegraph reported that the Ethereum Enterprise Alliance (EEA) has released new standards for developers using the Ethereum blockchain.
Ethereum 30-day price table. Source: Ethereum price index
In contrast, Ripple (XRP), the third highest cryptocurrency by market capitalization, saw a slight rebound after yesterday's sales. At the time of printing, the currency rose by around 0.6% and traded at $ 0.442. During the week, Ripple is down about 1.4%.
30-day price chart ripple. Source: Ripple Price Index
After reaching $ 201 billion yesterday, total market capitalization was around $ 203 billion for most of the day, amounting to $ 202.8 billion at the time of the press.
Daily chart of total market capitalization. Source: CoinMarketCap
VeChain (VET) is down more than 3 percent in the last 24 hours, trading at $ 0.01. According to CoinMarketCap, the currency has declined by more than 10 percent in the last 7 days.
The recent decline in encrypted markets is in line with a number of industry events that took place on Monday, October 29th. Speaking at a recent interview at the 2018 FinTech Forum in Canada, former US Federal Reserve Chairman Janet Yellen claimed that Bitcoin is "all in" a valuable deposit. Yellen highlighted low transaction volumes, low "handling of payments" and "difficulty" due to Bitcoin's "very decentralized nature".
Also on Monday, the Financial Conduct Authority (FCA) of U.K. he said the agency will consider banning sales of cryptographic derivatives, including contracts for differences (CFDs), options and futures. The announcement followed a report from the British Taskforce Cryptoassets, which suggested changes to the cryptocurrency regulations and raised questions about the existing rules for trading digital assets.
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