Crypto Markets See Small Slump, Bitcoin Keeps Above $6,500 Threshold

Thursday, July 5: crypto markets are seeing some red, with most major coins down up to 3 percent in 24 hours to press time. The total market cap has dropped by $4 billion since the same time yesterday, according to Coinmarketcap.

Market visualization

Market visualization from Coin360

Bitcoin (BTC) is currently trading at around $6,597. The coin is down about 1.5 percent over the past 24 hours, but it’s still keeping above the psychologically important $6,500 mark. Bitcoin is still up on the week with an 8 percent increase in value.

Bitcoin price chart

Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index

Ethereum (ETH) similarly holds recent gains, trading at about $470 at press time. The major altcoin is down 1.5 percent over the 24 hour period, but up 7 percent over the past seven days.

Ethereum price chart

Ethereum price chart. Source: Cointelegraph Ethereum Price Index

Total market cap is currently at $273 billion, down around 2 percent from yesterday’s high of $277 billion.

Total market capitalization chart

Total market capitalization chart. Source: Coinmarketcap

While the market in general had experienced a small decline, NEO is up almost 8 percent over the past 24 hours. The altcoin is trading at $41.78 at press time, with a 38 percent value gain over the past week, according to data from Coinmarketcap.

IOTA (MIOTA) and Cardano (ADA), which have seen a surge of 19-21 percent over the past 7 days, are down from yesterday’s highs, as per Coinmarketcap data. Both Cardano and IOTA are down some 5 percent, trading at $0.17 and $1.17 respectively.

Earlier today, the general manager of the Bank for International Settlements (BIS) Agustin Carstens made another anti-crypto statement, arguing that cryptocurrencies “cannot assume the functions of money.” 60-year old Carstens has claimed that digital currency is an attempt of “young people” to “create money,” which is not “compatible with maximising the usefulness of money.”

Comments

comments

Filed in: Bitcoin News Tags: ,

You might like:

South Korea Legitimizes Blockchain Industry With Major New Classification Standards South Korea Legitimizes Blockchain Industry With Major New Classification Standards
The History of Tezos: The Infamous ICO Trying to Rebound Amidst Lawsuits and Disputes The History of Tezos: The Infamous ICO Trying to Rebound Amidst Lawsuits and Disputes
BIS Chief Bashes Cryptocurrency Again in Scathing Review of Its ‘Failure’ as Money BIS Chief Bashes Cryptocurrency Again in Scathing Review of Its ‘Failure’ as Money
Former Jefferies Asia CEO to Lead $1 Billion EOS VC Arm Former Jefferies Asia CEO to Lead $1 Billion EOS VC Arm
IBM Signs $740 Million Deal With Australian Gov’t to Use Blockchain for Data Security IBM Signs $740 Million Deal With Australian Gov’t to Use Blockchain for Data Security
Deadline for Implementing Indian Central Bank’s Ban on Crypto Dealings Ends Deadline for Implementing Indian Central Bank’s Ban on Crypto Dealings Ends
Collectable Crypto Game Introduces Personalized Artist-Designed Avatars Collectable Crypto Game Introduces Personalized Artist-Designed Avatars
Immutability in Doubt: Do We Need to Protect Blockchain Data? Immutability in Doubt: Do We Need to Protect Blockchain Data?
© 2018 Virtual Mining Bitcoin News. All rights reserved. XHTML / CSS Valid.