Altcoins Fall Again, Will Crypto Markets Ever Recover?
After a slight improvement over the last week, the crypto market falls again. In terms of gains, the crypto market drops down to under $215 billion. Throughout the current year, the market has not been showing as much stability as it has in the past, and this is not the first time there is a forced dump.
Bitcoin remains an exception, though, as its trading rate is still a little bit below $6,500 ($6,470) which has led to its market dominance shooting up to 52.6 percent as the rest of Altcoins are falling. Meanwhile, ETH reaches its lowest value throughout the whole year, showing a 3.6% drop to $285.
Red dominates the Altcoins. The only Altcoin in the green at the moment is Lota, which has shown a 1.7% increase to 0.528 Dollars. Cardano and Stellar are dropping by 4%, and EOS takes the toughest blow dropping 5% to $4.90. Other Altcoins have declined between 2% and 3%.
Tezos decreased again after its earlier pump and has been shot 13% down, falling to $1.35. All the other brothers at the top twenty are experiencing a 1-3% dump, and the numbers are roughly the same for the rest of the list down to the top thirty, except for Lisk which has gone up to $3.92. It is nothing to celebrate, though, as this altcoin was worth over $30 just 7 months ago.
Eternal token, a new competitor in the top 100 cryptocurrencies went 28% up, along with Power Ledger which is showing a 6% rise as well, as listed on Australia's Bitcoin Markets’ Exchange. Veritaseum is in red, showing a 14 percent decline along with Kucoin shares and BTC Private.
The total numbers for the whole crypto market are not looking good; the volume of trading has decreased $12 billion from $212 billion. The overview of the past week was showing great spikes in the market. However, with today’s huge dump, people are in doubt of whether the market will show better numbers in the upcoming quarter.
Overall, the market seems it is going on with its 2018 downtrend. Nothing has shown any impact in attempt to lift the market a bit. No hacks or tips can give comfort to any investors, and positive news is not doing that much to quell the blow. We are yet to see how the Crypto sphere will manage its way out of this one.