Ethereum (ETH) is today’s most resilient large-market-cap altcoin

Friday, September 14: After yesterday’s bullish upswing, crypto markets have today been hit with widely-dispersed rectifications. Ethereum (ETH) is today’s most resilient immensely colossal-market-cap altcoin, visually perceiving the most eminent magnification on the day among the top twenty cryptoassets, as data from Coin360 shows.

Market visualization by Coin360
After soaring 18 percent on the day yesterday, September 13 – and peaking as high as $223 during early trading hours today – Ethereum has visually perceived a tempering downwards, afore regaining some losses in the hours afore press time.
At its current $214 price point, the top alt has sealed a solid virtually 4 percent of magnification on the day.
Even as Ethereum optically discerns a bullish couple of days on the markets, fresh research from TrustNodes has revealed data that may account for the top alt’s middle-term price impotency.
According to TrustNodes, in the 10 days leading up to September 13, Initial Coin Offering (ICO) projects have sold three times more ETH than they did in August, with major implicative insinuations for price performance.
Ethereum remains down virtually 9 percent on its weekly chart, but has significantly closed down its losses on the month, which are now at 26.3 percent.

Having reclaimed the $6,500 mark yesterday, Bitcoin (BTC) is trading just scarcely down today at $6,480 as of press time, optically discerning a negligible percentage loss over the circadian period. The leading crypto briefly tumbled back to $6,430, shedding $150 in value in a narrow two-hour time window earlier today, after trading as high as $6,580. Bitcoin has since bounded upwards in a jagged instauration in the hours afore press time.
On the week, Bitcoin is just about breaking even, with monthly gains at a solid 3.67 percent.

Bitcoin circadian price chart. Source: Cointelegraph Bitcoin Price Index
Among the other top ten coins on CoinMarketCap, virtually all cryptoassets are visually perceiving mild losses on the day, mostly capped below 2.5 percent. The only alt to have shed fractionally more is Stellar (XLM), ranked 6th, which is down 3.22 percent to trade at around $0.20 at press time.
Litecoin (LTC) and Monero (XMR) are the only top ten coins aside from Ethereum to visually perceive any magnification, but only just, both up under 2 percent on the day to press time.
Among the top twenty coins by market cap, Dogecoin (DOGE), ranked 20th, has optically discerned the heftiest losses, down 5.5 percent on the day. DOGE eminently visually perceived relatively lacklustre magnification yesterday, as the wider market soared, but is still significantly up on its monthly chart after a vertiginous price hike in early September.

Dogecoin 1-month price chart. Source: CoinMarketCap
Binance exchange’s native token, Binance Coin (BNB), ranked 16th, is the only other top twenty coin to visually perceive green, up 1.89 percent on the day to trade at $9.79 at press time.
Dash (DASH), IOTA (MIOTA) and TRON (TRX) are each down around 2 percent on the day to press time.
Total market capitalization briefly spiked as high as $204.3 earlier today, but has since declined to $201.1 billion as of press time.
The week has been a volatile and uneven one, during which total market cap briefly plummeted to around $186.3 billion September 13, but have managed to virtually plenarily regain losses.

7-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap
As investors nervously ocular perceiver the markets, Mike Novogratz, progenitor and CEO of crypto investment firm Galaxy Digital Capital Management, claimed that cryptocurrency prices have hit a bottom in a tweet yesterday, September 13.
He further noted that the Bloomberg Galaxy Crypto Index (BGCI) – which is designed to quantify the performance of the most astronomically immense cryptocurrencies traded in U.S. dollars – “retouched the highs of tardy last year and the point of expedition that led to the massive rally/bubble.”
Moreover, today visually perceived a further revelation that capped a positive week for potential institutional investor exposure to Bitcoin and other crypto assets. U.S. stock brokerage firm EF Hutton unveiled plans to issue $60 million in sundry cryptocurrency instruments as of January 2019, the same week as it substantiated it was the major sponsor of a forthcoming U.S. cryptocurrency exchange that will be kenned as ACEx.
EF Hutton’s plans followed sultry on the heels of reports that U.S. banking giant Morgan Stanley plans to offer clients Bitcoin trade swaps, the same week as Citigroup insiders alluded it is withal orchestrating an ingression into crypto-predicated products.