Saturday, Aug. 11: after short-lived recovery attempt[1] yesterday, cryptocurrencies[2] have suffered another slump today. Almost all cryptocurrencies are down by significant percentages, with Bitcoin (BTC[3]) being a notable exception among the top 20[4] market cap, up under one percent on the day.
Crypto market visualization from Coin360[5]
Bitcoin is trading sideways, up by about 0.1 percent over the past 24 hours. The cryptocurrency is at the $6,438 price mark as of press time, following a dip to as low as $6,051 earlier today.
After surging to about $8,230[6] on July 25, BTC is down 8.5 percent on the week. However, the coin is still up 1 percent over the past 30 days.
Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index[7]
After losing[8] the $400 support this Monday, Ethereum (ETH[9]) has plunged to as low as $306 today. It is now trading at $327, with its price 8 percent down over the 24 hour period.
Unusually, the coin has experienced the heaviest losses[10] among top ten coins by market cap on the day. Ethereum has lost 25 percent of its value over the past 30 days, and more than 50 percent over the past three months.
Ethereum price chart. Source: Cointelegraph Ethereum Price Index[11]
Among the top 20 altcoins by market cap, EOS[12] and IOTA[13] (MIOTA) have seen the largest losses over the past 7 days, according to Coinmarketcap[14]. At press time, EOS is trading at $5.23, having lost around
