BLOCKNEWS GEORGIA

By Nina Kikava - News - 3 weeks ago

Stabilization Of the Crypto Market

It seems like the crypto market is starting to stabilize after a major breakdown last week. Top 20 cryptos have managed to crawl back up into the green zone. The market hasn't really recovered fully, but this means that the digital assets are slowly but still stabilizing.

The largest cryptocurrency Bitcoin managed to crawl back to green and it has been up for 3.21%. It is trading at around $4,499. To look at the weekly chart, overall Bitcoin is down with over 21%.

The second largest cryptocurrency Ripple is also going slightly up by 0.80% over past 24 hours. It is trading at $0.439 at the press time. According to CoinMarketCap, Ripple’s market cap is around $17.8 billion. Its weekly high point was %20.8 billion.

The cryptocurrency that lost its title of the second largest cryptocurrency on the market, Ethereum is up 2.19% and for now, it is trading at $134.46. The lowest point that Ethereum reached on the day was $126.30.

Bitcoin Cash is up 2.67% and is trading at $231.97. The coin has seen the most of the loss last week when the market was dipping down, it has lost almost 40% in the seven-day period.

Only two cryptocurrencies, Zcash and Tezos are still in red, they are down by 0.36% and 3.79%.

Although the crypto market has seen a major breakdown the past week, Spencer Bogart, a partner at the venture capital firm Blockchain Capital, thinks that crypto has still got large opportunities ahead.

Also, British regulators are trying to analyze a lot of digital assets, to find out if they need to make a reform regarding regulation, or will it be regulated normally under existing regulations at the moment.