Cryptocurrency markets are losing some gains today, as most digital assets are down between 3-15 percent during this morning’s trading sessions on May 16, 2018. The overall cryptocurrency market cap has shaved a few billion in losses since our last markets update, leading to the valuation of all 1,600 cryptocurrencies hovering around $374Bn today. During the last 24-hours Bitcoin Cash (BCH) value has dropped 10.4 percent and prices are around $1,258 per BCH. Bitcoin Core (BTC) prices have also dipped, but by only 5.6 percent with one BTC priced at $8,234 at the time of publication.
Also read: Circle Raises $110Mn With Plans to Launch USD-Backed Coin
BCH Markets Down 20% This Week
At least three-quarters of the entire cryptocurrency ecosystem has lost value today as many coins are seeing losses this Wednesday. Total 24-hour trade volume for today’s trading session is around $22.6B worth of exchanges. Bitcoin Cash markets have lost a bit of value since yesterday as the network experienced an upgrade which increased its block size to 32MB. BCH trade volume is thinner than the week prior as only $1Bn has been traded during the last day. The top five exchanges swapping the most BCH during today’s trading sessions are Okex, Bitfinex, Huobi, Upbit, and Hitbtc. Both the South Korean won and tether (USDT) BCH trading pairs have seen exponential volumes but BTC still dominates pairs by 34 percent. The BCH/BTC pair is followed by tether (USDT 25.4%), USD (22%), KRW (14%), and the EUR (1.4%).
BCH/USD market action on May 16, 2018, according to Satoshi Pulse.
BCH/USD Technical Indicators
Looking at the four-hour BCH/USD chart on Bitfinex the price is seeing some deep triangular consolidation at the moment. The MACd is on the
