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Cryptocurrency market overview: more main ahead of New Year

  • Cryptocurrency market is controlled by sellers.
  • Low liquidity and lack of buying interest keep digital coins under pressure.

The cryptocurrency market continues sliding down amid low liquidity caused by the holiday season. The total value of all digital assets in circulation dropped to $120B from $128B the day before, while all major coins are nursing losses in the range of 3%-13% on a day-to-day basis. 

Bitcoin is clinching to $3,600 handle, down nearly 4% since this time on Thursday. The largest digital coin managed to recover from $3,578 low, though the upside momentum is limited, while the overall market volatility is shrinking.

Ripple's XRP, the second largest coin by market capitalization, has settled at $0.3450, down 7% on a day-to-day basis. The coin is moving within a bearish trend in sync with other digital assets. XRP/USD recovered from the intraday low registered at $0.3415.

Ethereum is one of the biggest losers today. ETH/USD has lost 13% in recent  24 hours amid the massive sell-off by ICO projects. The coin is changing hands at $116.37, off the intraday low reached at $115.39.

Ethereum Classic slipped back under $5.00 to trade at $48.81 by press time. The coin gave back all gains made during the previous sessions, yielding to general selling pressure on the market.


 

Author

Tanya Abrosimova

Tanya Abrosimova

Independent Analyst

 

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