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Bitcoin Cash [BCH] bleeds by 18.71%; EOS and Tron [TRX] fail to recover as tokens fall by over 16%

Namrata Shukla

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Bitcoin Cash [BCH] bleeds by 18.71%; EOS and Tron [TRX] fail to recover as tokens fall by over 16%
Source: Pixabay

The cryptocurrency market saw a massive crash on January 10 and most of the major cryptocurrencies suffered heavy losses, and even on January 11, the market does not seem to be in a good shape. The top losers in the bear attack are currently Bitcoin Cash [BCH], followed by EOS and Tron [TRX].

Source: CoinMarketCap

Source: CoinMarketCap

Source: CoinMarketCap

Source: CoinMarketCap

Bitcoin Cash, at the time of press, was valued at $131.20, with a market cap of $2 billion. The coin registered a 24-hour trade volume of $357 million. The coin recorded a huge 18.71% slip in the past day, and has seen an overall dip of 19.35% in the past week. The coin is slowing recovering as it noted a rise of 0.19% in the past hour.

The fourth-largest coin was highly traded on Huobi, with $50 million in trading volume with the BCH/USDT pair. Huobi was followed by LBank, which registered a trading volume of $32 million with the BCH/BTC pair. Upbit, in the third place, noted a volume of $25 million with the BCH/KRW pair.

Source: CoinMarketCap

Source: CoinMarketCap

As per the CoinMarketCap chart, EOS recorded a loss of 17.57% over the past day and had a market cap $2 billion. The coin registered a 24-hour trade volume of $1 billion and made a recovery of 0.38% over the past hour. The coin saw a dip of 10.54% over the past week.

The coin was highly traded on OKEx, with a trading volume of $159 million with the EOS/USDT pair. The second place was taken by Bibox, which registered a volume of $95 million with the EOS/ETH pair. Bibox was followed by Bitz, which traded $91 million volume of the coin with the EOS/USDT pair.



Source: CoinMarketCap

Source: CoinMarketCap

TRX was pumping for the past few weeks, but this pump was suddenly restricted on January 10. At the time of press, the coin was valued at $0.0266, with a market cap of $1.7 billion. The 24-hour trading volume of the coin was $1 billion, with a fall of 16.95% over the past day. The coin registered an overall growth of 31.45% and is seen to be making a recovery with a 0.80% growth in the past hour.

The coin was highly traded on Upbit, with a trading volume of $176 million with the TRX/KRW pair. The exchange that reported the second-highest trade volume was Binance, with $141 million with the TRX/USDT pair. Binance followed itself as it registered a volume of $110 million with the TRX/BTC pair.





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Altcoins

Rabobank announces plans to drop its crypto-project

Sarvesh Kumar

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Robobank to drop its plans of having their own crypto-wallet
Source: Pixabay

Rabobank, a bank based out of The Netherlands, has decided to drop their idea of creating their own native cryptocurrency called Rabobit. The bank had announced their cryptocurrency plans in February 2018. Rabobank was looking at closing the gap between banks and cryptocurrency wallets. However, they have taken this decision after exploring the field for more than a year.

According to a report by Hard Fork, a spokesperson from the bank said,

“After careful consideration with our customers in mind, we recently decided that now is not the time to develop the idea further and bring it to the next phase of innovation”

Their cryptocurrency idea was part of the Rabobank Moonshot program, which was looking at boosting innovation in Fintech services. The bank does not consider their research a waste, but the same has led to valuable insights and experience in general, the spokesperson added

The spokesperson also said,



“We have learned valuable lessons about our customers and the crypto market and on how to design blockchain and crypto applications.”

The spokesperson cited regulatory uncertainty as the reason why the Dutch institution pulled out of the project. Although the bank has dropped the idea, they will be keeping a tab on the market and the regulatory changes in the industry.

Rabobank is not the only bank to drop the idea of having a cryptocurrency wallet. Recently, ABN AMRO, another Dutch bank, also dropped their plans of “Wallie,” their own cryptocurrency wallet. The reason for their drop was also with respect to regulatory conditions in the industry.





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