Crypto Market Sees Minor Fluctuations, Hints At A Turnabout

By Rishma Banerjee

The overall crypto market has been stable, with Bitcoin and Ethereum experiencing minor changes in the value of under 1 per cent. There have been mixed price movements where almost half of the top 20 coins have grown on the day.

Bitcoin:

Bitcoin’s intraday high was 6323 USD and its intraday low was 6,259, and it kept fluctuating between 6,200 USD and 6,300 USD over the course the day. It is down by approximately 0.3 per cent over the past 24 hours, and at press time, is trading at 6,192 USD. Currently, Bitcoin has a 53.9 per cent dominance of the market capitalisation.

Ethereum:

Ethereum which performed better saw a growth of almost 1 per cent and is currently trading at 199 USD. On 11th October, Ethereum had dropped to as low as 191 USD but has now recovered slightly.

Ripple:

However, even after seeing a significant growth yesterday, Ripple in just 24 hours has taken the downward slope. It dropped by about 2 per cent and is currently trading at 0.42 USD.

Tron:

The eleventh largest cryptocurrency by market cap, Tron after an announcement of a collaboration with an unnamed industry mammoth saw some of the most growth according to CoinMarketCap and is up by 1.4 per cent to trade at 0.023 USD at press time. This anonymous partnership is rumoured to be with Chinese internet giant, Baidu.

 

The total market capitalization now amounts to 201.5 billion USD and had an intraday high of 202.8 billion USD and an intraday low of 200.7 billion USD. Daily trade volume of the entire crypto market, however, has recently dropped below $10 billion for the first time since Aug. 26.

Nouriel Roubini also dubbed as ‘Dr Doom’ has completely dissed crypto as something which was “fascist at the core”, do the existing “paranoia and conspiracy” regarding centralisation. Ran Neu-Ner, crypto analyst and host of CNBC’s Crypto Trader show has since tweeted a poll asking his audience about the correct choice of a debater against Rouhini. As of press time, the winner, with 33% of the votes had been Vitalik Buterin, Ethereum’s co-founder.