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As Top Crypto Market Reports Losses, Bitcoin Hovers Around $11,000
Crypto

As Top Crypto Market Reports Losses, Bitcoin Hovers Around $11,000

Top 20 digital currencies are in the red zone while only Chainlink(LINK) is showing gains daily.

Bitcoin (BTC) has been trading from $ 11,701 to $ 10,751 during the day. There has been a price drop of 2.73{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee}, in its weekly performance.

The average correlation between bitcoin and all other major cryptographic assets was reduced to 0.61 from 0.73 in the first quarter of 2019.

Ethereum (ETH) has recorded smaller losses on the day, as there was a drop of 1.89{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee}. It is trading at around $287.31. Its weekly chart shows that the ETH fell as low as $ 274.62 on July 2, while its highest point was $ 321.68 on June 30.

Previously, Justin Drake, a researcher at Ethereum 2.0 at the Ethereum Foundation stated that the ethereal could reduce emission tenfold by 2021.

Data from Coin360 indicate that Ripple (XRP) has fallen 3.15{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee} on the day to trade at around $ 0.381 at the time of printing. The weekly performance of altcoin shows that it has lost almost 9{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee}, comparing it with the last month, the drop was of 4.84{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee}.

The only LINK is reporting profits, with more than 6{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee} on the day. The currency is quoted at around $ 3.62.

The total market capitalization of all digital currencies is over $ 320 billion at the time of publication, above its historical low of around $ 290.5 billion on July 2. The daily volume of all currencies is currently around $ 74.8 billion.

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Dennis Payne is a cryptocurrency maven who wows our readership with his research abilities, writing skills and in-depth knowledge of the crypto world. His stories prove to be eye-openers for us all, and therefore make for recommended reads for you.