Monday, Oct. 29: Crypto markets are seeing the first momentum in a while after a period of marked stability: virtually all of the major cryptocurrencies are in the red today, with some seeing losses of between a 4-6 percent range, as Coin360 data shows.
Bitcoin is trading at $6,352 at press time, seeing an almost 2 percent loss on the day according to CoinMarketCap.
On the week, the crypto is now around 2.7 percent in the red: monthly losses are at around 3.4 percent.
Having seen similarly stable trading patterns, Ethereum has today also been jolted by negative momentum, sliding steeply down 3 percent on the day to trade around $198, according to CoinMarketCap.
The hardest hit top-ten performer is seventh largest coin Litecoin, down 5.2 percent on the day to trade around $49.22 by press time.
EOS is down 4.2 percent at $5.17, roughly on par with Bitcoin Cash, down 4.25 percent at $419.22.
Anonymity-oriented alt Monero is the least scathed, losing 1.1 percent over a 24 hour period to trade at around $101.43.
TRON is down 4.9 percent at $0.022, IOTA is down 4.23 percent at $0.456, with Ethereum Classic pushing a 4.85 percent loss at $9.12.
In crypto news today, major European cryptocurrency exchange Bitstamp has been acquired by Belgium-based investment firm NXMH. NXMH is a subsidiary of South Korean-based media giant NXC Corp., which bought a 65.19 percent stake in South Korean crypto exchange Korbit last year.
The operator of Japanese crypto exchange Coincheck, which suffered an industry record-breaking hack this January, has revealed the exchange saw a 66 percent decline in revenue for Q3 2018.
Crypto Markets See Stirrings of Volatility as Major Coins Tip Into Red
Published on Oct 29, 2018
by Cointele | Published on Coinage
Coinage
Mentioned in this article
Recent News
View All
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.