Crypto markets seems to be gaining a steady momentum, with nearly all of the top ten cryptocurrencies seeing slight growth and min. losses of around 1-2 %, as per CoinChangelly’s Market Price Index.
Tether [USDT] has largely settled back in to its characteristic mercantilism pattern. Having briefly lost its USD peg last week, the asset has since rescued its historical trading vary on the point close to a 1:1 quantitative ratio to the dollars. 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 slight price amendment for today. Following its fugacious ascent to $6,965 USD on Oct. 17, related to with Tether’s [USDT] price tumble, Bitcoin [BTC] has corrected back to a trading range vary simply harder over at the beginning of 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 the trend has continued over the past few days.
Coupled with low volatility, BTC trading volumes stay low; as of press time.
Ethereum [ETH] is seeing gaining slight momentum, up just 1.21 % to trade around $207.502 USD. Over the past week, the leading altcoin has seen the same mercantilism similar to the pattern to Bitcoin, spiking to $220 USD on 15th Oct. before correcting downwards in recent days.
This brings Ethereum [ETH] to a 3.2 % gain on its weekly chart; monthly losses are roughly equal within the other way, at around 2.7%.
The strongest top-ten performer is fourth largest crypto Bitcoin Cash [BCH], up 2.24 % on the day to trade around $451.110 USD. Anonymity-oriented elevation Monero [XMR] is seeing a modest 0.81% change today to press time.
The dislodged Dogecoin [DOGE] from its spot as twentieth largest coin by market cap earlier in the week, is seeing a sustained growth for the broader market.
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 tokens are mercantilism below their listing price, with around 30% having considerably loosing their substantial prices. On the far side investment returns, the auditor found that solely 29% of studied projects had either a operating product or a prototype model – up simply 15% from the last year.
In the altcoin news section, Ethereum [ETH] developers aforementioned that the platform the underpins most ICO tokens – yesterday reached a agreement to delay a planned hard fork of the protocol till Jan 2019 next year that was supposed to be launched by the end of Nov. this year as various technical issues still presist while its testing.