Markets Update: ETH Hits 14-Month Low Amid Heavy Altcoin Losses

Markets Update: ETH Hits 14-Month Low Amid Heavy Altcoin Losses

Many altcoins have posted significant losses in recent days, with ETH currently testing price levels not seen in over 12 months after losing 40% in roughly one week. The declining value of altcoins has also driven BTC to continue to establish new highs for market dominance during 2018.

Also Read: Chinese Report Finds 9 in 10 Altcoins to Have Stolen 80% of Their Code

BTC Gains Dominance

The heavy losses sustained by many leading altcoin markets have led BTC to continue to further its market dominance over other cryptocurrencies. As of this writing, BTC has a market dominance of 57.6% and is trading for roughly $6,300 USD.

Despite stable price action over recent days, BTC has shed approximately 16% in the last 8 days. BTC currently has a market capitalization of nearly $109 billion.

The number of BTC short positions is testing the all-time high level of roughly 38,000 for the second time in roughly one month.

BCH Hits New Low for 2018

Bitcoin Cash has experienced a bearish week or so of price action, losing approximately 30% in the last 8 days when measuring against the dollar. With prices currently hovering at the $420 area, BCH has established a new low for 2018 and is currently testing price areas not witnessed since late October 2017.

When measuring against BTC, BCH is trading for approximately, 0.067 BTC – a key support area dating back to the market’s inception a year ago.

 

BCH is currently the 4th ranked cryptocurrency market by capitalization with roughly $7.35 billion.

ETH Breaks Below $200

In the last 8 days, ETH has lost roughly 41% when measuring against the dollar. The drop plunged the price of ETH down to the $170 area – prices not seen since mid-July 2017.

Ethereum’s market dominance has dropped below 10% for the first time since December 8th, 2017, and March 2017 before then – with ETH currently comprising 9.6% of the total cryptocurrency market cap, according to Coinmarketcap.

When measuring against BTC, ETH is testing the support area of approximately 0.0275 BTC for the first time since December 2017.

Both ETH/USD Shorts and Longs Test All-Time Highs

As of this writing, the number of both ETH/USD shorts and longs are testing record highs on Bitfinex – with longs breaking into new all-time highs above the 350,000 area as of this writing, and shorts testing the 240,000 area for the second time in just a few days.

ETH/USD Longs – Bitfinex – 1D
ETH/USD Shorts – Bitfinex – 1D

ETH is the second largest cryptocurrency market with a capitalization of $17.76 billion.

Other Leading Altcoins Post Significant Losses

XRP dropped by 21% in 8 days to retest support at its 2018 low of approximately $0.26. XRP is the third-ranked market by capitalization with $10.43 billion.

XRP/BTC – Bitfinex – 1D

EOS is trading for approximately $4.85 after losing 25% in 8 days. EOS has now tested the roughly $5 area for several consecutive weeks. EOS is the fifth largest cryptocurrency by market cap with nearly $4.4 billion.

EOS/USD – Bitfinex – 1D

Stellar has posted the most modest losses among leading altcoins for the last 8 days – falling by roughly 16%. Stellar is the sixth largest crypto market with a capitalization of $3.65 billion.

STR/USD – Bitfinex – 1D

LTC set a new low for 2018 today, breaking below $50 for the first time in nearly 12 months. As of this writing, LTC is trading at $49 after shedding roughly 28% of its value in 8 days. LTC has the seventh largest cryptocurrency market cap with $2.87 billion.

LTC/USD – Bitfinex – 1D

ADA is the ninth largest cryptocurrency with a market cap of $1.65 billion. ADA posted the most violent losses of the leading altcoin markets this week, losing roughly 60% in 8 days. ADA is currently trading at a record price low of $0.064 USD.

ADA/USD – Bitfinex – 1D

XMR has fallen by 29% in the last 8 days and is currently testing support at the $100 area. XMR is the tenth largest cryptocurrency market with a capitalization of $1.62 billion.

XMR/USD – Bitfinex – 1D

Do you think we will continue to see bearish market action across the cryptocurrency markets in the short-term? Share your thoughts in the comments section below!


Images courtesy of Shutterstock, Tradingview


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PR: AidCoin Sells out Its ICO in Minutes and Gets Listed on Bitfinex

AidCoin Listed on Bitfinex

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.

AidCoin to revoluzionize charitable giving by making the non-profit sector more transparent.

AidCoin just announced the success of its token sale raising a total hard of 14,333 ETH ($16.5 million USD at the time of close) in minutes with hundreds of contributors unable to participate.

This is no small milestone for any project and in particular for AidCoin, the ERC20 utility token aiming to become the preferred method to donate transparently through the Ethereum blockchain. AidCoin is solving a real world issue: the sharp decline in trust in the charity sector driven by the misuse and misappropriation of donor funds.

The AidCoin project is conceived and developed by CharityStars, a charity fundraising platform since 2013 that has been working with 500+ charities like Unicef and WWF, 200+ celebrities and 100+ brands such as Cristiano Ronaldo, Lewis Hamilton, Ferrari and Armani.

Following the successful ICO, the AidCoin token (AID) has been listed on Bitfinex, the leading crypto exchange.

CEO and Co-founder of AidCoin and CharityStars, Francesco Nazari Fusetti said,

“Our team is proud and incredibly humbled by this tremendous show of support for both our project and mission. For years we have worked relentlessly to meet the needs of the most vulnerable in societies around the world, and the success of the AidCoin token sale clearly shows that people everywhere are eager to join us in our journey to not only meet those needs but do so in a way that is more transparent, accountable, and ultimately trustworthy.”

What sets AidCoin ahead of the competition is its ability to provide the non-profit sector with an ecosystem of services within a single platform called AIDChain.

AIDChain services include:

– Register and verify identity: Charities and causes must register and get verified to receive donations.
– Convert and donate: An internal exchange to convert major cryptocurrencies into AidCoin and a built-in wallet to easily manage them.
– Track donations: Follow AidCoin transactions both on-chain and off-chain.
– Deduct from taxes: Get a receipt for your charitable donation to make it tax deductible.
– Discover and connect: Tools to connect donors with all the actors involved in the non-profit sector.
– Deploy smart contracts: Templates of smart contracts that can be easily customized with the click of a button.

With a strong team and years of expertise in the sector, AidCoin is poised to play a leading role in this new era of fundraising. Keep an eye on this project and make sure to fill up your bags now that it is listed on Bitfinex, one of the most popular exchanges.

Website: https://www.aidcoin.co
Telegram group: https://t.me/aidcoincommunity
Telegram announcements: https://t.me/aidcoin
Twitter: https://twitter.com/aid_coin
Medium: https://medium.com/aidcoin

Contact Email Address
hello@aidcoin.co

This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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