Daily crypto: Wide declines in the markets – but tether is rising

Daily crypto: Wide declines in the markets – but tether is rising.

Image source: Shutterstock / Trijo News

Tim Haldorsson

tim.haldorsson@trijo.co

All the major cryptocurrencies have lost in value during the last 24 hours. The stablecoin tether has increased, which seems to have contributed to smaller differences for the price of bitcoin on various platforms.

Over the last 24 hours, the crypto markets have seen wide declines in prices. All major currencies have lost between one and four percent. Approximately 90 of the 100 biggest cryptocurrencies currently show red numbers.

The total market cap of all cryptocurrencies has also decreased in the last 24 hours: from about $211 billion to $207 billion.

Tether gains about one percent

If we look at the biggest cryptocurrencies, all show red number over the last 24 hours. Xrp (-3,90%), bitcoin cash (-3,96%) and ethereum (-2,68%) have lost the most, but also bitcoin (-1,40%) and eos (-1,95%) have lost in value in the past day.

The cryptocurrency tether (+1,08%), which is meant to work as a substitute and follow the price of the U.S. dollar, has risen by just over one percent over the last 24 hours. It is currently trading at $0,9817. This may have contributed to the fact that the difference between the bitcoin price has decreased between platforms such as Binance who uses tether and Coinbase who uses the U.S. dollar.

For example, yesterday it cost $340 more to buy bitcoin on Binance than on Coinbase’s platform, but today, on Binance one bitcoin is 6,588 tether (USDT) and at the same time $6,381 at Coinbase, a difference of about $200.

The cryptocurrencies on top 100 that performed the best during the last 24 hours were polymath (+16,66%) and aelf (+14,42%), and the ones that performed the worst were pivx (-12,33%) and ark (-7,59%).

Asset: Price: % (24h)*
Bitcoin $6 454,97 -1,40%
Ethereum $202,01 -2,68%
Xrp $0,45155 -3,90%
Bitcoin cash $433,84 -3,96%
Eos $5,31 -1,95%

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

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