Daily crypto: Markets are going down and bitcoin cash succeed with stress test

Daily crypto: Markets are going down and bitcoin cash succeed with stress test.

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Christian Ploog

christian.ploog@trijo.co

The crypto markets have gone down during the last 24 hours.

On September 1, a stress test was conducted on the bitcoin cash mainnet. Over 2.1 million transactions were sent over the network to show the blockchain’s capacity and scalability. Among other things, the community wanted to check if the transaction fees would go up, Cointelegraph reports.

The test showed that the average transaction fees for bitcoin cash did not increase, but instead decreased from $0.002 to $0.0017, according to data from Bitinfocharts. The test was therefore considered a success and as a result, the price of bitcoin cash increased by over ten percent during Sunday.

Increase in short positions

During Sunday, the number of so-called short positions (trading tools that make it possible to bet on the bitcoin price to go down) increased at the crypto exchanges Bitmex and Bitfinex.

This could mean that many now think that the bitcoin price will go down, CCN reports.

Markets are going down

The crypto markets have gone down during the last 24 hours. All major cryptocurrencies except bitcoin (+0,04%) have gone down: xrp (–2,99%), bitcoin cash (–2,91%), ethereum (–2,53%) and eos (–1,04%).

The cryptocurrencies on top 100 that performed the best were holo (+24,61%) and ethereum classic (+5,08%), and the ones that performed the worst were wanchain (–10,41%) and digibyte (–9,71%).

Asset: Price: % (24h)*
Bitcoin $7 242,36 +0,04%
Ethereum $289,82 –2,53%
Xrp $0,337124 –2,99%
Bitcoin cash $629,01 –2,91%
Eos $6,50 –1,04%

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

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