Written by Aaron Woodstaff writerReviewed by Igor Belkinformer editorBitcoin, Altcoin Prices Slip Downward While XRP Stays Stable
MarketsPublishedOct 7, 2019
Major cryptocurrencies are incurring losses on the day as Bitcoin slips lower below $8,000 to trade near $7,800.
Sunday, Oct. 6 — Cryptocurrency markets are slipping downward today, with Bitcoin (BTC) trading under $8,000 and altcoins seeing notable losses on the day.
Market visualization courtesy of Coin360
After slipping below the $8,000 price point, Bitcoin has continued to slide down and is now trading at $7,824.37, down 3.22% on the day.
Bitcoin 7-day price chart. Source: Coin360
The largest altcoin by market capitalization, Ether (ETH), is seeing similar losses, down 3.13% on the day to trade at $169.83.
Yesterday, digital-collectibles marketplace OpenSea said that a hacker who stole 17 Ethereum domain names during the Ethereum Name Service’s auction decided to return them all.
Ether 7-day price chart. Source: Coin360
Meanwhile, the payment network Ripple’s XRP token is remaining relatively stable. The payments-focused cryptocurrency is up by a small 0.81% on the day to trade at $0.254.
XRP 7-day price chart. Source: Coin360
Last week, major cryptocurrency payment processor BitPay entered a partnership with Ripple’s investment arm Xpring to support payments with XRP.
Other top-20 altcoins are taking a beating. Algorand (ALGO) is down over 6%, while Unus Sed Leo (LEO) and Tezos (XTZ) are both down over 5%. One coin among the top-20 is bucking the trend and seeing major gains. Chainlink (LINK) is up over 8.6% on the day to trade at $2.14.
The total market capitalization of all cryptocurrencies is currently at $210.7 billion, just below where it started at the beginning of the seven-day period.
Total cryptocurrency market capitalization. Source: Coin360
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