Crypto Markets See Slight Slump, Ethereum Fails to Hold $300 Support
Crypto markets suffer a slight slump, Bitcoin, Ripple, Stellar and Monero struggle to hold weekly gains.
Saturday, August 18: crypto markets have seen another slump today, with some coins wavering following weekly gains, according to data from Coinmarketcap. Total market cap has dipped as low as $210 billion at press time.
Market visualization from Coin360
Bitcoin (BTC) is down 1.79 percent over the past 24 hours, trading at $6,396 at press time. With that, the top cryptocurrency has seen an intraday high of $6,562. The coin has lost around 13 percent over the past 30 days, while holding its weekly gains, according to Coinmarketcap.
Bitcoin 30 days price chart. Source: Cointelegraph Bitcoin Price Index
Ethereum (ETH) has failed to hold $300 support, trading at $291 at press time. The major altcoin has suffered a 3.74 percent loss over a 24 hour period, also having failed to keep momentum over the week with an 11 percent loss in the past 7 days.
Ethereum price chart. Source: Cointelegraph Ethereum Price Index
Total market cap has taken a somewhat downward trend today, dipping as low as $208 billion. At press time, total market capitalization has seen modest growth, now amounting to $210 billion.
Intraday Total market capitalization chart. Source: Coinmarketcap
While total market cap is down, Bitcoin is holding its position in the crypto market, with its dominance standing at 52.27 percent at press time.
Ripple (XRP), the third biggest altcoin by market cap, has also taken a hit, down 6 percent on the day and currently trading at $0.31.
Ripple recently partnered with three crypto exchanges to develop its cross-border payments service xRapid, enabling a “healthy” ecosystem for transactions between XRP and U.S. dollars, Mexican pesos, and Philippine pesos.
Ripple 7 days price chart. Source: Cointelegraph XRP Price Index
Ethereum Classic (ETC), which was recently listed by major U.S. crypto exchange and wallet service Coinbase, has given up its eleventh position on the market to TRON (TRX), according to Coinmarketcap. Now ranking 12th, ETC is down 7.8 percent, currently trading at $13.09.