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Crypto Market News - Major Losses In Less Than An Hour.
2019-02-25 | Mike Hallen
Monday, on 25th feb. Crypto market is undergoing a pointy reversal, covering significant losses over the past 24 hours to the reporting time after seeing major gains. Most of the severe downward movement among prime coins happened in a very short duration of time.
[caption id="attachment_6413" align="aligncenter" width="847"]
Cryptocurrency Market Price Update[/caption]
The major crypto-currency, Bitcoin [BTC] was able to break the $4,100 USD price mark on 24 Feb., which has now fallen to under $3,900 USD, at the reporting time, as per data provided by 'CoinMarketCap'.
[caption id="attachment_6414" align="aligncenter" width="829"]
Bitcoin [BTC] 7-Day Price Chart.[/caption]
At the reporting time, Bitcoin [BTC] is down over 5% on the day, presently trading at around '$3,838.31 USD', which is about 6.47% down from its mid-day peak price of around $4,211.3 USD. While watching its weekly chart, the present worth is simply beneath 5% over $3,632 USD, the worth at which Bitcoin [BTC] started earlier week.
CME derivatives group earlier on 21 Feb., tweeted that the recent surge in the price of Bitcoin [BTC] at the starting of the earlier week led to a record Bitcoin futures volumes on 19th Feb., with above eighteen thousand contracts listed.
The second major crypto-currency Ethereum [ETH] is holding its position with a market cap of over $14.8 Bln. The largest altcoin, Ripple [XRP], presently has a market cap of around $12.5 Bln.
[caption id="attachment_6415" align="aligncenter" width="840"]
Ethereum [ETH] 7-Day Price Chart.[/caption]
Ethereum [ETH] while for today has also seen significant losses, down to around 10.17% over the past 24 hours, in line with CoinMarketCap. At the reporting time, Ethereum is presently trading around '$141.17 USD'. The present worth is around 16% below the coin’s mid-day high of yesterday at $165 USD.
On the weekly chart, Ethereum [ETH] has seen its price increase nearly 9.1% from $126 USD, the worth at which the coin started the earlier week.
The third major crypto-currency Ripple [XRP] on the other hand, has lost nearly 7.68% within the past 24 hours to the reporting time and is presently trading at around '$0.304 USD'.
On its weekly chart, Ripple [XRP] has nearly entirely reversed its gains, up simply by fractions of a percent from the beginning of the earlier week.
[caption id="attachment_6416" align="aligncenter" width="793"]
Ripple [XRP] 7-Day Price Chart.[/caption]
Among the top twenty crypto-currencies, those experiencing the foremost notable losses are Litecoin [LTC], Ethereum Classic [ETC], Bitcoin Cash [BCH], EOS [EOS] and Ethereum [ETH], all seeing double-digit losses over 10%, at the reporting time.
The 'total capitalisation' of all crypto-currency market hit a multi-month high by over $144 Bln earlier on yesterday before sharply falling to almost $129 Bln, at the reporting time.
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Total Market Cap 7-Day Volume Chart.[/caption]
As 'reported' by EtherDesk yesterday, the Duma state of Russia plans to review & adopt new crypto-currency regulation, starting from March this year. The country’s former Energy Minister named ‘Igor Yusufov’, has also additionally announced the development of oil-backed crypto-currency project at its final stage.
