Bitcoin Price Drops on the Day as Altcoins Send Mixed Messages
Bitcoin price stumbles while altcoins report mixed, mostly red activity, with Cardano currently winning the day among top 20 coins.
Saturday, Aug. 10 — the top 20 cryptocurrencies are reporting largely reddish movement on the day, as Bitcoin (BTC) price saw a sudden dip earlier today.
Market visualization courtesy of Coin360
Bitcoin’s price is currently down 4.62% on the day, trading at around $11,370 at press time, according to Coin360 after slipping from around $11,800 to $11,400 in a matter of minutes between 7:30 a.m. and 7:45 a.m. Coordinated Universal Time. Looking at its weekly chart, BTC is up by about 5.5%.
Bitcoin 7-day price chart. Source: Coin360
Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $21.9 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $12.45 billion at press time.
Coin360 data shows that ETH has seen its value decrease by about 2.63% over the last 24 hours. At press time, ETH is trading at around $206. On the week, the coin has dropped about 6.82% of its value.
Ether 7-day price chart. Source: Coin360
XRP is down by 2.18% over the last 24 hours and is currently trading at around $0.296. On the week, the coin is down by roughly 5.62% as of press time.
XRP 7-day price chart. Source: Coin360
While Tezos (XTZ) experienced a price surge earlier this week following Coinbase’s announcement of support for the coin, XTZ is down by just over 5% on the day as of press time, the largest loss among top 20 cryptocurrencies.
The current total market capitalization of all cryptocurrencies stands at $294.2 billion, about 1.2% higher than reported a week ago.