A lot has changed since our last markets update as digital asset prices have been consolidating after the cryptoconomy’s last big drop in value. The entire ecosystem’s market valuation has lost about $10 billion over the last week, but stronger global trade volumes have managed to keep values afloat at current prices as traders await the next big wave of movement.
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A Strong Scent of Uncertainty In the Air
Another week has passed in cryptocurrency land, during which most digital asset markets have been consolidating tightly into a downward triangular pattern. At the moment, the entire crypto economy of all 2,000+ assets is hovering at about $120 billion with around $15.6 billion worth of global trades. Currently, bitcoin core (BTC) prices are meandering just above $3,650 with a market capitalization of about $63.8 billion. BTC captures roughly $5.2 billion in trade volume but the asset is down 2.6% for the week.
The second largest market valuation belongs to ripple (XRP) this Thursday, as each coin is swapping for $0.32 per unit. This gives XRP a market cap of around $13.4 billion and the market’s 24-hour volume is about $418 million worth of global trades. Ethereum (ETH) is trading for $122 per coin on global spot markets with a $12.8 billion market valuation. The cryptocurrency is down 0.96% today and 6.4% for the week. Lastly, eos (EOS) is up 0.86% today as each coin is trading for $2.43 per unit. Eos has around $667 million worth of 24-hour trades and a market cap of about $2.2 billion.
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