crypto market rises - 12 august 2018

Crypto Market Rises, Total Market Cap Still Breathing Close to 3-Month Low

Yesterday was a good day for HODLers as the crypto market saw fresh greens in what seems like a bid for recovery after the heavy losses. Bitcoin continues to dominate the market cap at a staggering 50.9%. While just the day before, on August 11th, Ethereum slumped and bitcoin seem to decouple from the market. Coin 360’s yesterday’s data showed huge variations.

cryptocurrency market 12.08 August 2018

Being traded at around $6,355 at press time, it hit a max of $6,455 yesterday but failed to follow through and cross the $6500 mark. The rise has not been smooth; however, as Bitcoin prices go up and down through the major part of the whole day yesterday as you can see in the following chart by Coin Telegraph.

bitcoin statistics 12 august 2018

Ethereum, currently going at around the rate $322 went up by a major 5.31% yesterday, after seeing significant losses in recent times. On August 11th, it plummeted down to a shocking $306, but yesterday’s rise can give ETH HODLers more hope than there was the day before. Notable though is the fact that even after gains, monthly losses for Ethereum still loom around the 25% mark.

Aside from the top two, Litecoin (LTC) and Stellar (XLM) saw a 6% growth yesterday. While a lot of speculations were made on Stellar after a Facebook spokesperson recently denied all rumors that the two companies are working towards any sort of partnerships, Stellar went on to keep a strong position and is currently being traded at 0.2245. The altcoin Monero (XMR), also saw a good day as it went by almost 4% and is currently going for $93.89 at press time. IOTA is also up by 4.44% and is currently in the market at $0.54.

NEO and Tezos (XTZ) both within the top 20 ranked coins in the market also went up by around 4% in the market. The current market capital for the crypto market is approximately around $214.7billion which is very close to its lowest in the past three months, only going lower over the 11th & 12th of this month. While in macrospect, this has hit the personal, retail and institutional HODLers, crypto miners were also among the victims of the market’s devastation. Meanwhile, hardware builders such as Nvidia are all forecasting drops in revenue earned from crypto-mining hardware over the next quarter.