Bitcoin Dances Around $7,000 As Top Cryptos Record Losses
Most of the top 20 cryptocurrencies are reporting moderate losses by press time, as bitcoin (BTC) holds over the $7,000 mark.
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Bitcoin is down about 1.5 percent by press time, trading at $7,048. Still, BTC is also over six percent down from its mid-day high of $7,500. Looking at its weekly chart, the coin is up nearly 23%.
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Ether (ETH) is still the largest altcoin by market cap, which currently stands at $20 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $13.4 billion as at press time.
According to CoinMarketCap data, ETH is down over 2.25% over the last 24 hours. At press time, ETH is trading around $189. On the week, the coin has also seen its value increase by over 16%.
Messari Ryan Selkis, CEO of crypto analytics firm recently predicted that Ethereum version 2.0’s transition to proof-of-stake (PoS) will not take place until 2021.
XRP is currently trading at around $0.317. On the week, the coin is up 6%.
Among the top 20 cryptocurrencies, only Bitcoin cash (BCH), binance coin (BNB) and dash (DASH) are posting gains on the day to press time.