Market Loses Staggering $26 Billion in 24 Hours

Twitter Facebook LinkedIn Over the last 24 hours, the crypto market suffered a devastating wipeout of more than $26 billion, making it one of the most intense daily sell-offs in all of 2018. Bitcoin (BTC), which demonstrated a record high level of stability from August to November, recorded a drop of more than 11 percent within a 12-hour period. The unforeseen decline in the price of BTC led other major cryptocurrencies and small market cap digital assets to initiate steep downward movements. Bitcoin Cash (BCH) recorded the worst drop on…

The Crypto Market Just Fell to a New 2018 Low

Bitcoin sank to its lowest price in over a year on Wednesday, with the prices of other major cryptocurrencies falling alongside it. As of press time, bitcoin is trading at $5,525.92 – a more than 12 percent decline on the day – in the latest sign that volatility around the world’s largest cryptocurrency by market capitalization has returned with a vengeance. Indeed, bitcoin’s collective market cap dropped below the $100 billion level for the first time since November 12 of last year, according to CoinDesk’s Crypto-Economics Explorer (CEX). In the past 12-hours…

Bitcoin (BTC) Crash! Price Plummets to One-Year Low as Cryptocurrency Market Sees Red

Bitcoin (BTC) fell by more than 11 percent on Wednesday to reach its lowest level since October 2017. This sudden fall comes after months of contracting volatility leading to a prolonged period of sideways trading and stability. Presently, numerous theories are circulating as to why the top-ranked cryptocurrency has taken such a nosedive. Bitcoin “Death Candle” Looking at the chart below, one can easily make out the massive “death candle” that took the price of Bitcoin all the way down to $5,600. This is the second time that the top-ranked…

OKEx Notes Early Delivery of BCH Futures After Trading Stop to Avoid Market Manipulation

The world’s current biggest crypto exchange OKEx has announced early delivery of Bitcoin Cash (BCH) futures contracts immediately after trading stop time today, Nov. 14, according a press release shared with Cointelegraph. As per the announcement, all Bitcoin Cash futures contracts have been set to stop trading at 9:05AM CET and delivered subsequently at 10:00AM CET due to the upcoming hard fork of Bitcoin Cash, Bitcoin ABC, scheduled for tomorrow, Nov. 15. According to Twitter, OKEx has released a notice on early delivery of Bitcoin Cash futures eight hours ago…

France Accounts for Minor Part of Global ICO Market, While US Leads the Industry

The Initial Coin Offering (ICOs) industry in France represents a minor part of the global ICO market, according to a report on ICOs released by French financial markets regulator AMF (l’Autorité des marchés financiers) today, Nov. 14. According to the recent study, the global ICO market has accounted for 19.4 billion euros ($21.8 billion) since 2014. Having experienced rapid growth since 2016, most of the market share has mainly been concentrated in 2017 and during the first three quarters of 2018, with 13.4 billion euros ($15 billion) raised within this…

Crypto Market Loses over $8 Billion in Market-Wide Selloff, Intense Downtrend

Today is a tough day for cryptocurrencies. A large-scale selloff action has erased over $8 billion off the crypto market. The total market capitalization is $205 billion at the press time, down from $213 billion from yesterday. The market has a record of recovering from anywhere near $186 billion, which could be called the crypto bottom level of this year. The monthly perspective also shows a stable recovery from circa $200 billion, according to data available at CoinMarketCap.com. Source: CoinMarketCap.com | Global Crypto Market Cap A rebound at this point…

Crypto Market Wipes Out $8B, Bitcoin Cash Down 24.4% in 1 Week

Twitter Facebook LinkedIn Over the past 12 hours, more than $8 billion was wiped out from the crypto market, as several major digital assets including Bitcoin Cash (BCH) and Stellar (XLM) suffered. For the first time in the past ten days, the price of BCH has dropped below the $500 mark to $480. Within the past week, after securing a monthly high at $630, BCH has dropped by more than 24.4 percent. What’s Happening to Bitcoin Cash? Prior to a hard fork, especially a contentious hard fork in which a…

Bear Market and Declining Hashrates Mean Mining ETH No Longer Profitable, Analysis Finds

Mining Ethereum (ETH) using a graphics processing unit (GPU) is no longer profitable, according to an analysis from U.S.-based global trading and technology firm Susquehanna. CNBC reported Nov. 13 on Susquehanna’s findings, which point to the protracted slump in crypto markets and declining network hashrates as reasons for the profit decrease. In Susquehanna’s analysis, profit per month for ETH miners using GPU-based setups hit a round $0 as of Nov. 1 this year, down from almost $150 in July 2017. Susquehanna notes the decline in Ethereum’s price as a major…

$3 Billion Deleted From Crypto Market as Big Digital Assets Perform Poorly

Twitter Facebook LinkedIn Over the last 24 hours, the crypto market has seen a drop of $3 billion from $212 billion to $209 billion, as major cryptocurrencies including Stellar (XLM) and Cardano (ADA) have fallen by 3 to 6 percent. Peculiarly, Stellar and Cardano are amongst three cryptocurrencies alongside Zcash that are expected to be integrated into Coinbase, the world’s fourth-largest fiat-to-crypto exchange behind Bitfinex, Bithumb, and Upbit. Why are Stellar and Cardano Falling? Prior to their listing, Basic Attention Token (BAT) and 0x (ZRX) recorded gains in the range…

Smallcap Token Cobinhood (COB) Gains 14.26% in Wider Market Downturn

Twitter Facebook LinkedIn The COBINHOOD token ‘COB’ has been reported across various sources such as CoinMarketCap as having appreciated significantly over the past 10-12 hours at the time of writing, when compared to the same trading values from the previous 24 hours. Current token value stands at $0.024001, a reported 6.81% increase in average trading price compared to the previous 24hrs. One Day Chart The highest price seen so far has been at 23:04:07 PM (UTC), where the coin rose to 0.027935 USD value from a low of 0.021245 at…