Crypto Markets Remain Shaky, NEM Continues Rising for the Second Day
Tuesday, October 2: crypto markets are seeing mixed signals, with up and down fluctuations for the last few hours and most of the top 20 cryptocurrencies by market cap seeing losses, according to CoinMarketCap. However, in terms of the 100 top cryptocurrencies, around half of the markets are in the green today.
Market visualization from Coin360
After seeing a slight growth on September 30, Bitcoin (BTC) continues seeing losses. The major cryptocurrency is up around .015 percent over the past 24 hours, trading at $6,564 at press time. While Bitcoin has managed to trade above $6,600 for a while within the day, the coin has seen its intraday low of $6,499. According to Cointelegraph’s price price index, Bitcoin is still up almost 2 percent over the past 7 days.
Bitcoin’s market share has seen a small growth of around 0.3 percent over the past 24 hours, according to CoinMarketCap.
Bitcoin 24-hour price chart. Source: Cointelegraph Bitcoin Price Index
Ethereum (ETH), the second cryptocurrency by market cap, sees more losses today, down almost 1 percent over a 24 hour period. The top altcoin is trading at $227 at press time, showing around 23 percent losses over the month. However, Ethereum is still up over the week, having managed to hold around 3.5 percent of gains over the past 7 days.
Ethereum 24-hour price chart. Source: Cointelegraph Ethereum Price Index
Ripple (XRP), the third top cryptocurrency, has been dropping gradually within the day, as shown on Ripple’s 24 hour price chart. However, the cryptocurrency is slightly up around 1.3 percent over the past 24 hours, and trades at $0.55 at press time. Ripple is still seeing a large growth of about 62 percent over the past 30 days.
Ripple 24-hours price chart. Source: Cointelegraph Ripple Price Index
Total market capitalization currently amounts to around $220 billion at press time. The intraday high of the total market cap constitutes around $222 billion. Daily trade volume of crypto markets amounts to about $13.4 billion at press time, and the number of all cryptocurrencies that are listed on CoinMarketCap is 2,011 at press time.
Total market capitalization 24-hour chart. Source: CoinMarketCap
While the most of top 20 cryptocurrencies have suffered losses over the past 24 hours, NEM (XEM) has continued growing today. After seeing strong gains yesterday, the altcoin keeps gaining the momentum, up 3.9 percent over a 24 hour period. In terms of weekly gains, NEM is up more than 15 percent at press time.
VeChain (VET) is also up 2.4 percent, and trading at around $0.013 at press time. The top 19th cryptocurrency is also up around 4 percent over the past 7 days.
Considering the largest losses in the top 20 crypto markets, Stellar (XLM) has seen the biggest losses of more than 2.1 percent. The top sixth coin by market cap is trading at $0.25, but still up around 4 percent in terms of its weekly gains.
Dash (DASH) is down of more than 1.2 percent today. The altcoin 12th altcoin is trading at about $183, also down around 0.8 percent over the week.
Recently, Cointelegraph reported that German investors in Initial Coin Offerings (ICOs) have lost up to 90 percent of their capital, which is even more than the losses of major cryptocurrencies Bitcoin and Ethereum this year.
On October 2, a Bloomberg report showed that institutional investors have replaced retail investors as the top traders of cryptocurrencies worth more than $100,000, with traditional investors such as hedge funds having become more involved in crypto markets through private transactions.