- Bears are at the driving wheel again, taking prices lower.
- TRON and Ethereum are the biggest losers out of top-20.
Cryptocurrency market is falling again with Bitcoin and all major alt coins back on the red territory. The total capitalization of digital assets in circulation slipped from $124B to $121.4B on Wednesday. It seems that the short-term recovery is over. The market resumed the downside amid the lack of fresh, positive drivers.
Bitcoin is changing hands at $3.600 handle, down 1.5% since this time on Tuesday. The largest digital asset is trapped within a bearish trend, while failure to pass through critical resistance levels increases the downside pressure. Speculations about Russian plans to buy Bitcoins worth of $10B were not officially confirmed; thus the positive effect from the proposal faded away.
Ethereum sits under $122.00 resistance, rangebound during Asian hours and down over 5% on a day-over-day basis. The third largest coin with a market value of $12.7 may be vulnerable to losses due to Constantinople delay.
Ripple’s XRP is pretty stable at $0.3288. The coin is unchanged since the start of the day and down 1.5% d/d. XRP’s price development depends on overall cryptocurrency market sentiments, though it has been less volatile than other major altcoins recently.
TRON (TRX) is one of the biggest losers. The coin has lost nearly 5% in recent 24 hours to trade at $0.0244 by the time of writing. A scandal around TRON Accelerator contest is gaining traction and creating additional downside pressure for the coin.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.