March 25: cryptocurrency markets have seen a slight decline over 24 hours to press time, but are still in the green over the seven-day period.
After Bitcoin has managed to approach $9,000 and Ethereum went closer to $600 on March 24, the crypto markets are fluctuating again. Yesterday, Cointelegraph reported that Nigeria’s Deposit Insurance Corporation warned the public to stay away from cryptocurrencies, citing the lack of backing by any “physical commodity,” likely contributing to the renewed downward dynamic.
Additionally, it was reported March 23 that Reddit removed the option to pay with Bitcoin for its premium membership program, Reddit Gold, due to the “upcoming Coinbase change.”
However, over the past 7 days the majority of crypto markets are still in the green, with some altcoins growing by as much as 60 percent.
Bitcoin and Ethereum are up about 11% and 8% respectively over the past week, with most of the top-10 altcoins displaying similar, or larger growth.
EOS is probably the biggest winner this week with a 58% percent increase from March 18 when it was trading around $4. The altcoin is now at $6.58, according to Coin360. This growth is likely to have been caused by the recent announcement made by Block.one and Finlab AG, about the launch of a $100 mln fund to accelerate development of EOS.IO software projects in Europe.