Crypto Market Goes Through A Calm Phase, with Minor Losses

Low volatility continues in Crypto markets while the top 10 cryptocurrencies experience an equal amount of positive and negative fluctuations, but mostly of very minor proportions. These ups and downs were restricted with a 2 per cent range.

Bitcoin:

Bitcoin (BTC) dropped a little, and at press time is trading at USD. the coin for quite some time now has been fluctuating between 6300 and 6500, barring a sudden spike of 15th October, which coincided with Tether’s loss of its dollar peg.

Ethereum:

Ethereum (ETH), the market’s top altcoin, is at press time trading at 199 USD, which marks an almost insignificant price change of a fraction of a per cent. This coin also saw a sudden spike on 15th October, and reached over 220 USD, but has since fallen back to its 205-210 USD range, dipping to as low as 200 USD, today. Overall the coin has lost around 2 per cent.

Tether:

Stablecoin Tether, which had been the centre of a lot of controversies recently, is slowly inching towards regainings its dollar peg and is now trading at 0.98 USD.

Crypto investor and entrepreneur Michael Novogratz is of the opinion that Tether, in spite of all the controversy surrounding it had done a great job of maintaining transparency, with regards to their offshore banking arrangements.

In the context of the rest of the top 20 coins, most of them were in the red and has losses of around 4 per cent. Zcash saw a tremendous growth yesterday but is down by 2 per cent today, however, it still retains its place in the top 20 largest crypto y market cap, after dislodging Dogecoin yesterday. NEO losses 1.54 per cent, at press time, while Tezos took the worst hit, by losing almost close to 4.44 per cent to trade at 1.30 USD. Stellar saw the most price change over the past 24 hours and is now up by a solid 3 per cent, and Litecoin has also edged into the green by being up by 1.48 per cent above average.

Total market capitalization of all cryptocurrencies stand at below 210 million USD and is currently remains below $210 million.

Rishma Banerjee

Rishma is currently pursuing a bachelor’s degree in International Relations and has a special place in her life for sifting through all sorts of random trivia, thank you very much.