Daily crypto: Calm markets and tether retrieves lost grounds

Daily crypto: Calm markets and tether retrieves lost grounds.

Image source: Shutterstock / Trijo News

Tim Haldorsson

tim.haldorsson@trijo.co

Tether has recovered after yesterday's fall in price.

The crypto markets have stabilized over the last 24 hours after having been quite volatile yesterday. At present, approximately half of the 100 biggest cryptocurrencies, by market cap, show green numbers.

The market cap of all cryptocurrencies is $213 billion. Over the past 24 hours, the market peaked at around $221 billion for a short period before it fell back to $213 billion.

Tether close to dollar price

When looking at the biggest cryptocurrencies, we see most red numbers. Ethereum (-2,22%), bitcoin cash (-1,21%), eos (-0,62%) and bitcoin (-0,98%) all show decline in prices while xrp (+1,93%) has risen in value over the past 24 hours.

Tether (+1.56%), which is supposed to function as a substitute for the dollar, has increased during the last day after yesterday’s fall in price. The cryptocurrency is at the time of writing trading at $0.976. When the tether price (USDT) differs from the dollar price, it seems like bitcoin costs different on some platforms.

If a platform only uses tether, the rates may be different from the usual dollar price. For example, on the crypto exchange Bitmex, bitcoin is trading against the U.S. dollar (USD) at $6,457 for each bitcoin, while on Bitfinex at the same time, bitcoin is traded against tether (USDT) with the price of 6,825 tethers, according to Coinmarketcap.

On the top 100 list for cryptocurrencies, the ones that performed the best during the last 24 hours were digixdao (+15,89%) and aurora (+14,63%), then ones that lost the most were digitex futures (-11,05%) and nebulas (-10,06%).

Asset: Price:  % (24h)*
Bitcoin $6 644,28 -0,98%
Ethereum $221,69 -2,22%
Xrp $0,458902 +1,93%
Bitcoin cash $464,35 -1,21%
Eos $5,48 -0,62%

*All numbers in this article are from Coinmarketcap.com.

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