Crypto marketsseems to be gaining a steadymomentum, withnearlyall ofthe top tencryptocurrencies seeing slight growth and min. losses of around 1-2%, as per CoinChangelly’s Market Price Index.
Tether [USDT] haslargelysettled back in to its characteristicmercantilismpattern. Having briefly lost its USD peg last week, theassethas sincerescuedits historicaltradingvaryon the point close to a 1:1quantitative ratio to thedollars.Today,the stalwart stablecoin is trading at a price of $0.983USD which is 0.09% lower than yesterday.
The price of the major cryptocurrency Bitcoin [BTC] is hovering above $6,500 USD at press time, seeing slightpriceamendmentfor today. Following itsfugaciousascent to $6,965 USD on Oct. 17,related towith Tether’s [USDT]pricetumble, Bitcoin [BTC] has corrected back to atrading rangevarysimplyharderoveratthe beginningof its weekly chart.
Earlier this month, Bitcoin [BTC] achieved a 17-month low volatility rate, recording its highest level of stability since mid-2017,and therefore thetrend has continued over the past few days.
Coupled with low volatility, BTCtradingvolumesstaylow; as of press time.
Ethereum [ETH] is seeinggainingslight momentum, up just 1.21%to trade around $207.502 USD. Over the past week, the leading altcoin has seenthe samemercantilism similar to thepattern to Bitcoin, spiking to $220 USD on 15thOct. before correctingdownwards in recent days.
This brings Ethereum [ETH] to a3.2%gain on its weekly chart; monthly lossesareroughly equalwithin theother way, at around 2.7%.
The strongest top-tenperformeris fourth largest crypto BitcoinCash[BCH], up 2.24 %on the day to trade around $451.110 USD. Anonymity-orientedelevationMonero [XMR] is seeing a modest0.81%changetoday to press time.
The dislodged Dogecoin [DOGE] from its spot as twentieth largest coin by market cap earlierin the week, is seeing a sustained growth forthe broadermarket.
Total market capitalization of all cryptocurrencies at the time of reporting is around $210.6 Bln, at the press time.
A new report from Four auditor Ernst and Young has found that among the major initial coin offerings (ICOs) that raised investment back in 2017,86%of project tokensaremercantilismbelow their listingprice, witharound 30%having considerably loosing their substantialprices.On the far sideinvestment returns, the auditor found thatsolely29%of studiedprojectshad either aoperatingproduct or a prototype model– upsimply15%from the last year.
Inthealtcoin news section, Ethereum [ETH] developers aforementioned that the platform the underpins most ICO tokens – yesterday reached aagreementto delay a planned hard fork of the protocoltillJan2019 next year that was supposed to be launched by the end of Nov. this year as various technical issues still presist while its testing.