Crypto Markets Are Mostly in Green, Ethereum Regains Top Altcoin Position

Wednesday, Jan. 2 — The main cryptocurrencies have mostly been in the green for two days now, according to data from Coin360. Bitcoin (BTC) is still over $3,800 mark, while Ethereum (ETH) has regained the top altcoin position.

Market visualization from Coin360

Proof of Keys — a celebration when BTC holders temporarily withdraw their funds from all exchanges and mediators  — is coming in just a few hours, and BTC has gained about 3 percent in price since the beginning of Jan. 2. The coin is traded at approximately $3,900 as of press time.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: CoinMarketCap Bitcoin Price Index

ETH has yet again beaten Ripple (XRP) as the world’s major altcoin by market capitalization after spending several weeks on the third place. The altcoin’s market cap reached almost $15.8 billion at press time, surpassing XRP’s market cap by almost $1 billion. ETH is now traded around $150, gaining more than 13 percent in price in comparison to yesterday’s charts.

Ethereum 7-day price chart

Ethereum 7-day price chart. Source: CoinMarketCap Ethereum Price Index

Meanwhile, XRP, the third-top altcoin, is trading at $0.36, seeing a slight growth in price during the day. The coin’s market cap is around $14.9 billion.

Ripple 7-day price chart

Ripple 7-day price chart. Source: CoinMarketCap Ripple Price Index

The total market capitalization of all cryptocurrencies has climbed up to $132 billion, $2 billion away from its weekly high of $134.3 billion reached on Sunday, Dec. 30.

7-day total market capitalization chart

7-day total market capitalization chart. Source: CoinMarketCap

All of the other altcoins from the top 20 are in the green today, with EOS (EOS), Cardano (ADA) and IOTA (MIOTA) having the most visible price increases with 5.1, 5.5 and 7.2 percent on the day respectively.

In the meantime, the crypto community is discussing the accusations against crypto exchange HitBTC, which allegedly froze the accounts of several of its users in the wake of the Proof of Keys campaign.

The firm itself has not yet responded to the accusations of Twitter and Reddit users, some of whom claim that BTC withdrawal was not available for them for the last few days. The connection between the blocked withdrawals and the Proof of Keys is not confirmed.

Meanwhile, major Japanese e-commerce conglomerate DMM.com Ltd. has announced the closure of its crypto mining services due to their deteriorating profitability. The news comes shortly after similar announcements made by Japanese internet giant GMO Internet Group, which has ceased the development and selling of BTC miners.

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Ripple, Monero, NEM See Solid Growth Amid Calm, Mostly Green Markets

Monday, Nov. 12: crypto markets are seeing a wave of stability, with most major assets seeing low-level fluctuations both red and green, with just a few exceptions, as data from Coin360 shows.

Market visualization. Source: Coin360

Bitcoin (BTC) is up around 0.85 percent, trading around $6,354 at press time. After a period of protracted stability, the top coin saw a recent spate of downwards momentum and has been trading beneath $6,400 for the past several days. After an intra-week low of $6,307 yesterday, Nov. 11, Bitcoin has stemmed its losses and pushed back above the $6,350 mark.

On the week, the top cryptocurrency is just a little down from the start of its weekly chart, in the red by a slight 0.4 percent. On the month, Bitcoin is up around one percent.

Bitcoin 7-day price chart. Source: Cointelegraph Bitcoin Price Index

The market’s leading altcoin Ethereum (ETH) has also seen a fractional gain, up around three quarters of a percent to trade at $210 at press time. Correlating with Bitcoin, the altcoin saw an intra-week peak at around $220 Nov. 7, declining in the following days to trade as low as $207 Nov. 11 before recovering ground today.

On the week, the asset is just under one percent in the green, but monthly growth is a healthy 8.5 percent.

Ethereum 7-day price chart. Source: Cointelegraph Ethereum Price Index

Ripple (XRP) has outstripped all of the top ten coins on CoinMarketCap, sealing almost six percent growth to trade at around $0.53 at press time. While still below its weekly peak at over $0.55 Nov. 6, Ripple saw a strong surge during the hours before press time, having traded sideways at a lower price point around $0.51 in recent days.

On the week, Ripple’s growth is now a solid 5.2 percent, with monthly gains at 25.6 percent.

Ripple 7-day price chart. Source: Cointelegraph Ripple Price Index

Most of the remaining top ten coins on CoinMarketCap are in the green, seeing growth capped below a two percent range, with the exception of anonymity-oriented altcoin Monero (XMR), which has seen solid a 3.35 percent gain to trade at around $107.03.

After a period of heated controversies ahead of its forthcoming hard fork Nov. 15, Bitcoin Cash (BCH) has tipped slightly into the red, down around 0.8 percent to trade at $527.74 at press time.

Mati Greenspan, an eToro senior analyst, has today pointed out on Twitter that despite “all this drama in BCH [Bitcoin Cash] and still Google searches aren’t even coming close to BTC [Bitcoin]. Tell me again, which is the real Bitcoin?”

Greenspan provided a screenshot of Google Trend analytics for the past 30 days, which show that Bitcoin — sometimes dubbed Bitcoin Core — continues to significantly outflank Bitcoin Cash in terms of Internet searches.

Comparison of Bitcoin (BTC) and Bitcoin Cash (BCH) Google searches over the past 30 days. Source: Google Trends

The top twenty coins by market cap are seeing more mixed red and green, with the 15th highest-ranked crypto NEM (XEM) a significant outlier, up 16.3 percent to trade at about $0.108 at press time. NEM saw a sudden, steep uptick during earlier trading hours to peak at $0.114, before correcting just slightly downwards ahead of press time.

NEM 24-hour price chart. Source: CoinMarketCap

Altcoins DASH (DASH) and IOTA (MIOTA) have both seen above-average growth over a 24 hour period, up 3.3 and 4.5 percent at $165.07 and $0.50 respectively.

Tezos (XTZ) and privacy-focused altcoin ZCash (ZEC), ranked 18th and 19th largest by market cap, are each down just a little over 2 percent on the day, trading at about $1.29 and $127.44 respectively.

Total market capitalization of all cryptocurrencies is around $212.9 billion as of press time, down from an intra-week high of around $220.7 billion Nov. 7.

7-day chart of the total market capitalization of all cryptocurrencies: Souce: CoinMarketCap

Today, Japanese IT giant GMO Internet published its third quarter (3Q) report, revealing a “historical performance” of its crypto-related business segments despite “the harsh external environment.”

Meanwhile in China, a new blockchain alliance has been formed by the Guangzhou City Blockchain Industry Association, the Hong Kong Blockchain Industry Association, and the Macau University Innovation Center to collaborate on four new finance-oriented blockchain platforms.

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