Crypto Market Update: Altcoins Slide Alongside Bitcoin, Only A Few Remain In The Green

By Prashant Jha

As the first weekend of February 2019 draws to a close, the crypto market has registered another rather disappointing week. Out of the top twenty five cryptocurrencies (as per market cap) in the market, only four have found themselves in the green, leaving the remaining twenty one to deal with the reality of landing in the red. Bitcoin has registered a nearly 1% fall in price, and remained under the $3,500 range while most altcoins close to it in terms of market cap have fallen in value.

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Interestingly, the second largest cryptocurrency of the market, in terms of capitalization, Ripple (XRP) has taken a hit of 2.27%. It must be noted that a while back Ripple has faced allegations of inflating and faking its market cap by crypto research firm Messari and has also been suspected of being involved with threat calls to Messari employees.

Although Ripple has strongly denied the possibility of any involvement, it is certain that the mud slinging has left a dent in its pricing and market value. After the fall, Ripple’s price has come down to $0.299661.

Ethereum (ETH), the third largest crypto currency of the market by cap, has also seen a fall. Although the fall is significant, it is not as much as that of Ripple. Instead, ETH has fallen by only 0.87%. At the time of writing this coverage, the price of ETH on Coinmarketcap.com is $107.21.

Tron, Binance Coin, Bitcoin Cash, Bitcoin SV and most of the 20 altcoins in the red have seen disappointing falls, often higher than a rate of 1% or 2%. In the top twenty five range, the highest percentage of fall has been seen in the NEM (XEM) token, which has found itself in the red by 2.64%.

Speaking of the 4 coins in the top 25 range that have managed to remain in the green, we must first mention the EOS cryptocurrency. Just the fourth largest cryptocurrency of the market in terms of capitalization, EOS has managed to mark a rise of 1.11%. At the time of writing, the price of EOS is $2.36.

Litecoin has seen a small 0.26% rise, and Maker has seen 0.69%. Most impressively, the WAVES Cryptocurrency has managed to rise by 2.74%, reaching its current price of $2.79.