The cryptocurrency board had shown lateral movements on the cards until yesterday, when all the coins fell crashing after the bear's wrath. The fall in the price trend of more large currencies, such as XRP, Litecoin [LTC], Cardano [ADA] dragged down their monthly price percentages and are currently residing in purgatory.
XRP, the third largest cryptocurrency that has seen a lot of positive publicity is surprisingly the biggest loser this month, with a dip of 27.36% in its price. At the time of writing, the currency was trading at a depreciated price of $ 0.445 with a market capitalization of $ 17.92 billion. Its total trading volume of 24 hours equals 336.9 million dollars.
In the first week of October, xRapid, one of Ripple's main products under RippleNet, made a great entry into the commercial world. This is a cross-border payment service designed to solve the problem of liquidity at the global level. The company plans to perform this through the use of XRP and blockchain technology to make payments cheaper and faster.
xRapid is seeing a lot of adoption by commercial parties, such as Mercury FX, Cuallix and a cooperative financial company called Catalyst Corporate Credit Union. Despite all the success, the native currency of Ripple, XRP remains the biggest victim of the bear market.
Bitcoin money [BCH], the second biggest loser in the bear assault is currently recording a monthly drop of 22.64%. At press time, the BCH token was trading at $ 420.18 with a market capitalization of $ 7.32 billion. The 24-hour trading volume was just over $ 280 million.
While the Bitcoin Cash ecosystem has faced multiple and profound problems and conflicts, the market has reflected them in its prices.
After having struggled to forge the real currency and completed the disputed agenda of synchronizing BCH with the original white paper of Bitcoin, the currency is about to undergo another forex in November. This is due to the bad coordination of thoughts and ideologies within the Bitcoin Cash community. The problem ignited a fire so hot that it finally caused the division of the ecosystem into two communities: the Wormhole protocol of Bitmain and the implementation of nChain by Craig Wright.
Switch to the third row in line to wear the loser crown, litecoin [LTC], the cryptocurrency has lost 19.7% in its price this month. At the time of writing, LTC was trading at a beaten price of $ 49.52 with a market capitalization of $ 2.91 billion. The 24-hour volume was observed at $ 301.9 million.
Litecoin was built with the aim of playing the role of Bitcoin [BTC]He is the companion in the cryptocurrency space. Charlie Lee, who is the founder of the currency, spoke about his vision of Litecoin on several occasions. The main goal of the ecosystem is to be a tool to create healthy money and economic freedom for the world.
In addition, Lee, who is a former employee of Google and Coinbase and a computer scientist also has a huge inclination towards the Lightning and SegWit network. Here, one of its missions is to provide on-chain and off-chain atomic and submarine exchanges between Bitcoin and Litecoin. He also strongly expressed that compatibility with previous versions could play an important role in making the system efficient for cryptocurrencies.
However, the creator of LTC has no affinity with the trend of the token market because it believes in long-term results and not in short-term benefits, as has been found in many conferences and interviews.
Cardano [ADA], the ninth largest currency of the crypto-ranking has progressed at a steady pace since now, despite its history of violating deadlines due to the desire to bind the parties. Charles Hoskinson, the co-founder of Ethereum, founded ADA as a way to help the underdeveloped parts of the world and improve their economy.
Recently, IOHK made several announcements including the division by the Cardano Foundation [CF]. IOHK did it jointly with his risk arm, Emurgo, on issues within CF that involve nepotism and the dysfunctional approach to the Cardano ecosystem.
Here, CF's Head, Michael Parsons received an open letter from IOHK and Emurgo, since his foundation did not respond or took responsibility for Cardano's failures and progress. The funds obtained from ADA's ADO were also involved in the loss sustained by the ecosystem.
The last member of the list of monthly losers falls Ethereum [ETH], the currency under the top coin of the crypto-index, in which the price has plummeted by 15% this month. At the time of printing, the ETH price was $ 199.67 with a market capitalization of $ 20.53 billion. The 24-hour trading volume was showing $ 1.32 billion.
Ethereum's blockchain platform dominated the adoption scene in the cryptocurrency space, in terms of dApp's developments and tokens. Currently, according to various statistics, there are about 2,000 dApps developed on the Ethereum blockchain, including games.
Many big names are also involved with Ethereum through the Enterprise Ethereum Alliance [EEA]. It is an initiative to bridge the gap between giant businesses and start-ups with the potential to drive the technology forward. Some of the major players in this industry are JPMorgan Chase, Shell, Deloitte, Infosys, Ledger, Microsoft.
As for the altcoin deck in the blockchain space, the fact that the majority has seen a 90% fall [approximately] it was a blow to members who contributed from more ecosystems. However, the results of unremitting efforts and developments have yet to be achieved in order to realize the practical benefits that alter the life of cryptocurrency and blockchain in the real world.
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