Saturday, Dec. 22: most of the top 20
cryptocurrencies are seeing moderate losses, with Bitcoin (BTC)
struggling to stay near $3,900.
At press time, Bitcoin is down almost 5 percent over the last 24 hours,
trading at $3,879. On its weekly chart, current prices are below the
highest value on the week of near $4,200, but still significantly higher
than $3,217, the value at which BTC started the week.
Ripple (XRP), the second largest cryptocurrency by market
capitalization, has lost just over 5 percent on the day to press time.
It started the day at $0.373 and is now trading at $0.353, near its
lowest point of $0.349 over the last 24 hours.
On the weekly charts, the current price is significantly higher than
$0.285, the price at which the leading altcoin started the week. The
current price is also notable lower than the intra-week high of $0.393.
Ethereum (ETH) remains the third largest cryptocurrency by market cap,
losing about 3 percent of its value in the last 24 hours. At press time,
ETH is trading around $112, starting the 24-hour period at $116.40 and
reporting an intra-day low of about $107.50.
On the weekly chart, the current price is notably higher than the
starting point of $83.60, but below the intra-week high of $119.
Among the top 20 cryptocurrencies, some are reporting more notable
losses. Namely, Bitcoin SV (BSV) is down nearly 10 percent, and Bitcoin
Cash (BCH) is down over 8 percent on the day to press time. The only top
20 cryptocurrency breaking the red trend is Waves (WAVES), up almost 3
percent on the day.
Total market capitalization of all cryptocurrencies has dipped below
$130 billion, at $127.5 billion by press time. Total market cap has
still seen huge gains on the week, up from $101 billion, and peaking at
$137.5 on Dec. 20.
As Cointelegraph reported Friday, the recent decrease in mining
profitability has hit Graphics Processing Unit (GPU) producer Nvidia,
cutting the company’s stock price by 54 percent in Q4 2018. Major mining
ASIC hardware producer Ebang also recently reported “significant
decreases” in revenue in the second half of this year.
As per a Cointelegraph report earlier this month, the recent crypto
market crash made the operation of even the newest mining machines
unprofitable in many cases.
This week, two United States congressmen introduced a bill in the House
of Representatives that would exclude digital assets from being defined
as securities.
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