Digital Currency Markets Witness $50B in Two Weeks
Cryptocurrency markets are still struggling to break through into new-found upwards success. Currently, ETC and Zcash are holding steady against the loss in profit while IOTA continues failing. Crypto-markets are still at the hands of bears and the two-week prior sell off continues holding strong as the total market cap has dropped from $300B and landed at the $250B mark, resulting in around $50B in total loss within just two weeks.
BTC is continuously dropping again, having failed to hold its own over the current support levels and dropped around just one percent, landing below the $7000 mark for the first time since its July spike. As of now, the leading cryptocurrency is valued at around $6995 as has seen a total volume drop to $3.7B, a 17 percent loss in just one day. ETH is also on board the same train, failing to climb any further despite not reporting any losses either. It currently trades at around $410 on the market.
Alternative coins have displayed various results and only a handful of them have displayed any significant activity over the last day. IOTA has suffered the most, trading at $0.88 after a 4.3 percent drop, landing a new low since November last year. XLM has dropped as well, moving back to $0.237 in price on the market following a drop just over two percent.
A few alternative coins among the top leading 20 alternative coins’ display like-wise results although a few of them seem to be in the green zone and gathering a few wins of their own. Ethereum Classic has presented a climb over 3.4 percent, landing at around $17.21 in value. Zcash has also bounced upwards, hitting a $187 price mark despite a weekly drop of around 13 percent.
Holo and MOAC have shown the most significant climbs of the day, with the former bouncing up around 23 percent and the latter climbing 13 percent as well. As of now, no specific cryptocurrency has displayed any significant or game-changing gains or losses and the market remains dormant as of now.
Total cryptocurrency market cap has taken a one percent dip within 24 hours, settling at $254B. On the 5th of August, the total market cap plummeted even lower to around $251B and as of now, most losses may be possible. Additionally, trading volume has also heavily decreased and stands at around $11B as of now.