Daily Price Analysis 14/08: Bitcoin, Ethereum, Ripple, EOS, Litecoin | Crypto Gazette – Daily Crypto News, Articles & Tips

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The cryptocurrency market has lost $24 billion over the past 24 hours, dropping from $217 billion yesterday to currently stand at $193 billion. This is the first time the market cap has dropped below the $200 billion since the start of the year.

The market cap dropped despite Tether printing $50 million USDT, which usually leads to a slight increase in market cap. The 24-hour trading volume has slipped $1 billion to stand at $15 billion after it was at $16 billion.

Bitcoin price analysis

The Bitcoin price slipped below the $6,000 mark over the past 24 hours. BTC lost 7.8% of its value over the past 24 hours, slipping from $6,500 to its current $6,073.

The daily trading volume lost $1.4 billion. It slipped to $5.2 billion from $6.6 billion over the past 24 hours.

The Bitcoin price slipped despite Tether printing $50 million USDT. The printing of USDT usually leads to a slight increase in Bitcoin price, but that didn’t happen this time around.

Over the past one week, the BTC price lost 14% of its value. It was trading at $7,065 a week ago but has since then slipped to its current $6,073.

Ethereum price analysis

The Ethereum price has plunged by 17% over the past 24 hours. Amongst the top cryptocurrencies, ETH was the biggest loser, dropping to its 2018 low. It dipped from $322 to its current $267.

The trading volume meanwhile increased to $2 billion from $1.7 billion that was recorded yesterday. The ETH price followed the general market in recording massive loss over the past few hours.

A look at Ethereum’s weekly chart shows that the currency has lost 35% during that timeframe. The cryptocurrency was trading at $411 a week ago but has since dropped to its current $267.

Ripple price analysis

XRP just like the other plunged over the past 24 hours. It lost 15% of its value, dipping from $0.307 to its current $0.267. The 24-hour trading volume meanwhile surged by $100 million, from $197 million yesterday to reach $299 million today.

The general dip in the cryptocurrency market affected Ripple, making it one of the biggest losers amongst the top cryptocurrencies.

XRP shed 14% of its value over the past one week. It was trading at $0.413 a week but has been on a steady decline over the past seven days.

EOS price analysis

EOS slipped by 15% over the past 24 hours. It was trading at $5.15 yesterday but has since dropped to $4.39.

The 24-hour trading volume went up from $619 million to $657 million. The sell-off that affected the general cryptocurrency market also affected EOS price.

Amongst the top cryptocurrencies, EOS lost the highest in a week. It lost 38% of its value over the past seven days. It was trading at $7.08 a week ago but has been steadily declining to now trade at $4.39.

Litecoin price analysis

Litecoin lost 14% of its value over the past 24 hours. It was trading at $60.64 per coin yesterday but has since slipped to $51.55. The daily trading volume has slipped to $250 million, after recording $314 million yesterday.

Litecoin also declined like the others over the past one week. It plunged by 30% over the past seven days, slipping from $74.45 to its current $51.55.

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