Crypto Market Remains in Limbo, Struggles to Keep Momentum After Recent Uptick

  • Alex Morris
    📰 News

    The total crypto market capitalization remains above the $200 bln mark, having lost nine bln in a matter of hours


Crypto Market Remains in Limbo, Struggles to Keep Momentum After Recent Uptick

On Aug. 19, the crypto market cap has lost more than $9 bln. Despite yesterday’s surge, all major coins, along with Bitcoin (BTC), are dropping in price.   

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Cryptocurrency Markets Show Some Fightback as Ethereum Classic Feels Coinbase Effect

Another bull run? Not so fast

This week was a disaster for the cryptocurrency market, which plunged below $200 bln for the first time in 2018. There was no clear cause of this major downtrend as Bitcoin and other altcoins kept suffering from double-digit losses.

Now, the industry is finally showing signs of recovery with the market cap currently sitting at $212 bln. This growth, however, is not really consistent– after huge gains over the last 48 hours (some altcoins have experienced a whopping 50 percent surge), the crypto market struggled to keep this momentum, losing more than $9 bln within a span of three hours.


Nano (NANO), after showing promising results on Aug. 17, takes the cake as the worst performing currency of the day with an 18 percent drop in price.

Pundits argue that Bitcoin, which failed to overcome resistance in the $6,600 region, caused this drop in market cap. At the time of writing this article, one BTC will set you back $6,397.

Bitcoin’s bubble has already burst. Have you noticed?  

As Bitcoin continues hovering above $6,000, a crypto evangelist Meltem Demirors recently suggested that BTC has already experienced the ‘Bitcoin bubble,’ which has been touted by fearmongering crypto critics for years.

In a recent CNBC interview, Demirors claims that the prolonging bearish trend is actually a good indicator for the king of crypto, and the BTC price will only continue rising in the future.

What to expect from the crypto market?

As the volumes of all major cryptocurrencies (including Bitcoin) remain pretty much the same, it is safe to say that BTC price will remain at the same level for a while. Bitcoin, after reaching more than $8,000 in July, may still regain its momentum, judging by the price trends in February and April. While many speculate that the ETF rejection was behind the recent market meltdown, the upcoming SEC decision in September is poised to have a major impact on Bitcoin’s value.

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Litecoin (LTC) User Pays 200 LTC Fee to Transfer Slightly Under 9 LTC

  • Yuri Molchan
    📰 News

    A LTC user has recently✔️ ⏳ sent a small Litecoin amount and had to pay✔️ 💸 a 200 LTC fee for verification, even though s/he was only moving📈 8.88 LTC


Litecoin (LTC) User Pays 200 LTC Fee to Transfer Slightly Under 9 LTC

Recently, a Litecoin user has made a transaction to send 8.88 LTC (slightly under $1,000). The network fee he had to pay for it was huge – a bit more than 200 LTC, though. That is $20,500.

Strange spike in LTC transaction fees

The news was reported by Litecoin.com, the Chinese mining pool LTC.Top included the expensive transaction into the block 1636831 and verified it, taking the abnormally big fee.

Instead of paying a regular fee of about $0.05 on the LTC network, the user had to pay $0.70 – a fee which miners collected in late 2017 when LTC was at the peak of its peak price at $400.

After that LTC and other altcoins lost 80 percent of their value along with Bitcoin.

The fee per kB totalled 83.23080000 LTC ($7,297.68)

The fee per kWU totalled 20.80770000 LTC ($1,824.42)

The fee per kVB equalled 83.23080000 LTC ($7,297.68)

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The abnormal fee should be returned

The transaction turned out to be a consolidation of funds. Since the first appearance of this address on the network, it has conducted slightly under 2,600 transactions with LTC.

Since funds are often added and removed from this address, Litecoin.com believes that it is a corporate wallet. Litecoin.com reports that most likely the accident was a pure error either based on human behaviour or on software error.

The website urges readers to reach out to the LTC.Top mining pool and get them to return the fee to the transaction maker.

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