Bitcoin, Altcoin Prices Slip Downward While XRP Stays Stable
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