CRYPTO-DAILY THE NUMBERS: $43BILLION LOSS IN 3 DAYS AS CHINA EXITS THE MARKET.#0053
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Market Overview.
The market has lost over $43Billion since the rumor on the ban on Chinese exchanges started, bringing the market to a low last experienced 5th of August. This came to a peak when some Chinese exchanges announced they were closing shop, the market responded diving a massive 19.27% and lost an unbelievable $25.67Billion to close (GMT+9) at $107.549Billion while volume traded was a huge $7.809Billion a 70.09% increase from the previous day as investors fled. A total of 866 cryptocurrencies, 243 Assets, and 5,494 market pairs were traded. Bitcoin's market dominance increased to 48.1% of the total market cap.
**TOP 10 BY MARKET CAP **
| RANK | COIN/ASSET | MARKET CAP (BILLION$) | %CHANGE |
|---|---|---|---|
| 1 | BITCOIN BTC | 51.806 | -18.02 |
| 2 | ETHEREUM ETH | 20.625 | -18.68 |
| 3 | BITCOIN CASH | 6.492 | -16.65 |
| 4 | RIPPLE XRP | 6.136 | -18.63 |
| 5 | LITECOIN LTC | 2.249 | -28.56 |
| 6 | DASH DASH | 1.822 | -17.41 |
| 7 | NEM XEM | 1.573 | -24.74 |
| 8 | MONERO XMR | 1.297 | -23.57 |
| 9 | IOTA IOTA | 1.190 | -22.22 |
| 10 | ETHEREUM CLASSIC ETC | 0.919 | -30.69 |
| - | TOTAL | 94.109 | -18.79 |
| - | OTHERS | 13.440 | -22.46 |
The board is bloody red no gains recorded, ETC took the biggest hit recording a 30.69 % loss. Bitcoin recorded a huge loss of 18.02% and traded as low as $3,080, as all coins on the board retained their spots. The top Ten cryptos combined market cap declined by 18.79% to close at $94.109Billion controlling 87.5% of the total market capitalization, while the remaining cryptos market cap also declined by 22.46% to close at $13.44Billion.
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TOP 10 BY VOLUME TRADED
| RANK | COIN/ASSET | 24HR VOL (M$) | %CHANGE | DOM PAIR |
|---|---|---|---|---|
| 1 | BITCOIN BTC | 3,150.09 | 61.72 | BTC/USD |
| 2 | ETHEREUM ETH | 1,451.31 | 91.84 | ETH/USD |
| 3 | LITECOIN LTC | 978.29 | 153.42 | LTC/CNY |
| 4 | TETHER USDT | 415.27 | 111.08 | BTC/USDT |
| 5 | BITCOIN CASH BCH | 368.65 | -6.75 | BCH/KRW |
| 6 | ETHEREUM CLASSIC ETC | 299.55 | 295.45 | ETC/CNY |
| 7 | RIPPLE XRP | 212.41 | 172.81 | XRP/KRW |
| 8 | QTUM QTUM | 176.74 | 22.63 | QTUM/KRW |
| 9 | MONERO XMR | 135.59 | 6.55 | XMR/KRW |
| 10 | OMISEGO OMG | 101.59 | 53.32 | OMG/USD |
| - | TOTAL | 7,289.49 | 74.65 | |
| - | OTHERS | 519.51 | 24.50 |
All coins on the board recorded high increase in selling volumes except BCH with a slight decrease, as they all recorded huge negative growth. ETC recorded the biggest growth in volume of 295.45% with a corresponding loss of 30.69% of value. Our dominant pairs show a rare 100% CRYPTO/FIAT pairing for the two days in a row with a negative effect indicating massive outflow of funds. Combined volume was $7.2Billion a 74.65% spike, and a 93.35% of total volume traded, while the remaining cryptos traded $519.51Million a 24.50% rise in investors attention.
NEW LISTINGS
| COIN | SYMBOL |
|---|---|
| DROXNE | DRXNE |
Even DROXNE barely 24Hrs old recorded loss.
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NEWS
-From Bear to Bull: Bitcoin Just Won't Die (So Josh Brown Buys)-CoinDesk
-China Moves Towards Tougher Bitcoin Regulation, But Not to Outright Ban: Jihan Wu -CoinTelegraph
I hope this post helps your investment decisions. If you like it PLS don't forget to UPVOTE, RESTEEM and FOLLOW for MORE. THANK YOU FOR YOUR ENCOURAGEMENT.
HAVE A PROFITABLE INVESTING DAY!
SOURCE:CoinMarketCap
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Choyna will come back with his millions soon
This is look's like ongoing negotiations over the size of the bribe.
I hope they do soon, after i have taken position.
I have to open with, "I am somewhat of an ignoramus", but getting better all the time. I'm not an investor (yet), but have discovered this community, which has led me to learning about cryptocurrency, which, just for the record, I think is brilliant. There is much going on, as always, on the political stage, which will affect Bitcoin and the various other cryptocoins.
Donald Trump, on behalf of America has issues with China and Russia (and with North Korea a tiny bit), and the attack on President Rodrigo Duterte, recently has been exposed by Mr. Duterte, publically. His main point was regarding supporting America, if they decide to attack China. He says that he has no issues with China (or America), but refuses to play with the Elitists that start all the wars and try to control all of the movement of money.
My point, although rather awkwardly thrown at the window, is that Bitcoin is under attack from those that want control. They want to centralise the cryptocurrency and control it. It means a deal of some form, to mainstream cryptocurrency, but from what I have seen in my lifetime and throughout history (though it's all but impossible, due to lies, deception, cover-ups and hardcore propaganda, to discover what really happened in any particular case (due to centralised control and governments)) is that all deals are made after a war. After the destruction and annihilation of one country by another, the aggressors move in to re-build that country with a new order, so to speak.
Anyhooooooo, and I hope I'm not pissing you off here with this waffling @cryptoinvestor, I think the best move here for all people involved in crypto is to HODL or to buy. I don't understand the market drop, unless it is a fear issue and if it is, then this drop is surely good in the long term? Am I wrong, and I feel I am, but besides general trading and nominal fluctuations, aren't we just losing the chaff and the wheat stands strong and safe in the field?
I know that for investors, this is a serious issue and I have had my eyes widened a little bit, regarding the market, but this is the way of investments anyway. Even with the best projections, nothing is a certainty, without involving corrupt of nefarious methodologies.
I am selling items and asking for Bitcoin and am not presently solvent, because I have just lost of lot of money on something ridiculous, but hey ho. I can see that cryptocurrency is definitely the future way to trade, and is only short of mass support. Until that time, I intend to learn as much as I can, invest, grow and use this to help others grow and build better securities for each other.
This feels so similar to the movement aimed at 'waking' people up to what's happening in the world and how it is or might affect them, before it's too late. Once people realise that money is fiat and based on trust, they might start to broaden their horizons, but as with much such information, until some of them turn off the tv, or unless the tv tells them it's okay, they will really struggle with critical thinking, which is all that is needed here.
It's nice, also, to take the place of Neophyte in this wonderul new place and there is a very positive community vibe here. I do apologise for waffling on and for maybe not being a little more succinct in getting my point across.
Thank you for your post. All the best.
Thanks, this is the longest comment i have ever had on a post. This is about the 4th time the Chinese govt is interfering and each time the market falls but from available stats its effect reduces with each fall. I believe as the market deepens and become more global we will have less of this disruptions, and the thought of anyone controlling Bitcoin i dare say impossible.
That makes a lot of sense and from a World economy viewpoint, those that are trying to get more and more control over the financial world, seem to show the most paranoia, with regards to cryptocurrency. Thanks for the reply and any elucidation is good news, as I have a lot to learn. It was nice to come home and see Bitcoin at $3,650 :).
@cryptoinvestor got you a $1.81 @minnowbooster upgoat, nice! (Image: pixabay.com)
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Bitcoin is resilient and even if it goes below the $3000 resistance level i have a good feeling it is going to surprise a lot of naysayers when it hit $10 000 before 2018. Bitcoins has proven many critics wrong over the years and i bet it will do it again not to mention the many times it was said that it will die or crash. If bitcoin was a woman man she would be more beautiful than any super model out there. The Asians are up too something here with these announcements seem like they have their hand in the cookie Jar.
@rogerblu
I agree Bitcoin has proven its resilience what is happening is not new.
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Is this not just FUD to crash the market only to buy cheap and build confidence in this shiny digital currency once more?
Ofcourse for those with huge funds and experience, this is their time. A market this shallow this will always recur.
Hmmm true, so the advise will be to HODL until the dust settles?
Yes, if you are not a whale or experienced.
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STOP@cryptoinvestor Masses of knowledge. Many thanks. Resteemed.
Thank You.