It’s been a rough week for traders, as the markets took a serious knock – fortunately not as bad as traditional stock & equity markets though – but still not great.
Bitcoin finally had a break out of the stable range of the $6400 to the $6600 range this week, and it was a break to the downside, with a $300 selloff in the space of 90 minutes in the early hours of Thursday morning (CAT), with the price falling from $6520 to finally find some support at $6220.
As our analyst Graeme Tennant has been expecting a violent break, possibly to the downside, and in this episode of the roundup, we ask him if this was the break he was expecting, take a listen below:
Here’s the rest of the roundup in written form, for you…
This time last week the overall marketcap was sitting on $217.5 billion and after the flash crash, we’re now sitting on $201.3 billion at time of recording, reflecting a 7.48% loss, a far cry from last week’s 0.9% weekly price differential.
Today sees 57 coins of the Top 100 in red on the 24 hour timeframe, and 22 in green. The remaining 21 indicate a change below 1%, which we’ll be calling “non-movers” in our daily analysis.
The biggest loser in the Top 100, is MOAC (a sharded blockchain development platform), which is down 10.51% to $1.27 in 24 hours.
HyperCash is the 2nd biggest daily loser, down 9.27% to $1.80 per HC.
Bytecoin, a cryptonote based privacy coin, is the 3rd worst daily performer, down 8.95% to 0.14 US Cents per BCN.
Biggest gainers on the daily in the Top 100 are 0x (the Ethereum token exchange platform), up 19% to 78c – BAT (Basic Attention Token), the blockchain-based digital advertising platform, up 8.18% to 17c – and MANA token (from the Decentraland project – the virtual reality platform), up 7.2% to 7 US Cents.
Looking at our exclusive CMC16, the Top 16 coins with a marketcap over $1 billion… Not a single one of them are in green on the 7 day period as Thursday’s selloff really hit the big boys hard. The CMC16 is down overall from 198.7 billion dollar marketcap to 179.3 billion dollars, losing 9.76% in the last week.
The best performer being USD Tether because it’s the most stable (apparently) sitting at 99 US Cents, down 0.24% in 7 days. Tron is the 2nd best performer in the CMC16, down 3.56% to 22c.
The worst performers in the CMC16 are XRP, down 18.53%, ETC down 13.41% and CH down 12.97% respectively.
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Dominance wise, no major changes, but Bitcoin continues to gain ground. With a dominance of 54.16%, up 2% from last week, with Ether at 10.01% and XRP at 8.32%, – while all others still share 18.99% of the market.
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That’s where I’ll leave it for this week.
A big shoutout to everyone who came out to the co-hosted meetup at Lucky Shakers in Umhlanga, KZN on Thursday night. It was great to partner with Linum Labs, Blink and BECSA for a great opportunity to network with like-minded blockchain enthusiasts.
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Have a great weekend everyone.