Advertisement
AD

Main navigation

Market Analysis: Bitcoin Price Slightly Increases, Top Altcoins Remain in Red Territory While Credo Skyrockets by 46 Percent

Advertisement
Tue, 11/09/2018 - 13:00
Market Analysis: Bitcoin Price Slightly Increases, Top Altcoins Remain in Red Territory While Credo Skyrockets by 46 Percent
Cover image via U.Today
Read U.TODAY on
Google News

The whole industry is slowly rebounding after a major meltdown. While an intense battle between bulls and bears continues, a positive news cycle indicates that another market uptrend may be in the offing.

Advertisement

Bitcoin keeps asserting dominance

The market is still recovering from a recent bloodbath, triggered by the Goldman rejection. Over the last 24 hours, the total market capitalization (currently sitting at $196 bln) experienced a minuscule increase of about 0.2 percent, according to a DataLight report. Bitcoin (BTC), the flagship cryptocurrency, also increased by 0.69 percent (that is by no means an indication of another bullish uptrend).

In fact, BTC had the biggest increase in the top 10, which speaks volumes about the current market sentiment. Meanwhile, Cardano (ADA) shows the most upsetting result with a 4.4 percent drop.   

Related

Credo appears in the spotlight

If to analyze the performance of other altcoins by market cap, Credo (CREDO), the current behind a Blockchain project that aims to tackle the problem of email spam, boasts the biggest price spike in 24 hours (46.5 percent). Emercoin (EMC) and Crypterium (CRPT) also saw a substantial increase (44 and 42.5 percent respectively). At the same time, ZClassic (ZCL) becomes the biggest loser of the day, plunging by almost 15 percent.  

An incredible week for the industry  

A prominent investor Joseph Young doesn't buy the drama. Indeed, the crypto market took a major nosedive the previous week with Ethereum (ETH) plunging below $200 for the first time in 2018. However, he points to a slew of recent major announcement in the crypto industry- from Citigroup embracing cryptocurrency custody to European officials backpedaling on their plan to regulate digital assets, giving a sigh of relief to the industry. On top of that, the Winklevoss brothers stirred some buzz by rolling a brand-new dollar-pegged cryptocurrency Gemini Dollar (GUSD)

Related
 

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD