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Total Crypto Market Cap Decreases by 16.7% For Past Week

Published: 10/09/2018
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What is it for?

Last week was marked by a significant decline in cryptocurrency market capitalization in the amount of more than 16%, according to the analytical portal CoinMarketCap. If the volume was $236.7 billion on September 3, then on September 10, the amount fell to $196.9 billion.

 

On Wednesday, September 5, there was a significant drop in the bitcoin's rating. Judging by the graph, the daily price of the first cryptocurrency was twice corrected: initially by about $400 for 2.5 hours and, after some time, by $500 for an hour and a half. The total decrease in the cost of the first cryptocurrency for the time period was 13%.

 

Source: CoinMarketCap

 

A few days later, on September 8, Saturday, another correction was seen ― 3.5% within an hour. Bitcoin's total cost decrease in percentage terms for the week are compared to the losses of total crypto market capitalization. According to CoinMarketCap, on September 10, 04:29 (UTC), the price of the first cryptocurrency is $6344, the volume of its capitalization is valued by $109.5.

 

Following bitcoin, all the most liquid crypto currencies lost in price. The cost of ether decreased by 31%, Cardano ― 26%, EOS ― 22%, Ripple ― 18%, Stellar ― 15%, Litecoin ― 14%. From the top ten list, the lowest correction was traced by Monero, 10%, for the past week.

 

Source: CoinMarketCap

 

Some analysts of the cryptocurrency market aver that the volume of capitalization was affected by large one-time investments in bitcoin from anonymous investors. For the past 24 hours, all the digital assets of the top ten rating are in the green zone with the exception of Stellar.

 

Earlier it was reported that a weekly level of bitcoin volatility reached its year minimum.

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  1. Brooks_Al:
    09/10/18 at 09:24

    I still believe that BTC will gain it's power, just to remember, that all other coins are just copies trying to reach the same level BTC does.