As the cryptocurrency market sees another fierce ambush by the bear, the situation keeps getting worse for Ethereum [ETH] and XRP. Today, ETH broke its support of $165 to form an even lower support level at $161. At press time, the coin was trading at $159, with a market cap of $16.4 billion. The total 24-hour trading volume was recorded at $1.92 billion.
Over the day, the highest price at which Ether traded was at $179.15, when its market cap was $18.5 billion. Furthermore, the token saw a massive wipeout of over $1.5 billion over the course of a day. This has acted as a great contributor and played in favor of XRP to maintain its dominance on the second spot.
Prior to the cryptocurrency market crash that shook all the big coins across the board, Ethereum’s one-month price chart had witnessed trading prices as high as $221, with its market cap at $22.7 billion. This was before ETH lost its glory to XRP and its market cap diminished.
Currently, XRP is much above its competitor, trading at $0.47, with a swelled market cap of $19.3 billion. The total difference in the market caps of both the coins is approximately calculated to be $2.8 billion.
Another defeat was witnessed by the Ethereum ecosystem was when Tron [TRX], the eleventh-largest cryptocurrency, surpassed ETH in terms of dApp volume. Here, IDEX, the No 1 dApp on the Ethereum blockchain was observed to have the 24-hour transaction volume of 2,430 ETH.
Meanwhile, Tronbot, which is a successful dApp on the Tron blockchain had the 24-hour transaction volume of over 422 million TRX, racing ETH in its own game.
Subscribe to AMBCrypto’s Newsletter
Tron [TRX] rises in the charts as Justin Sun-led cryptocurrency becomes biggest gainer in the top 20
Central bank cryptos will follow after being battle tested by corporations, says PwC’s Pauline Kalfon
Facebook Coin’s plan to overhaul the US Dollar falls short of conviction
WaykiChain [WICC], Blockchain Industry Delegate, with over 150 Top Global Firms Attends China Development Forum [CDF] 2019
Ripple’s class-action lawsuit takes a step further as court sets schedule for next year
Flash hike: Qtum skyrockets by over 36% in 1-hour after Apple Pay & Samsung Pay announcement
Craig Wright’s Twitter account suspended after threatening harassment and libel lawsuits
Qtum partnership with Zeus enables users to trade cryptocurrency on Apple Pay, Samsung Pay
Bitcoin Cash [BCH] developers introduce privacy-protecting lightweight protocol, Neutrino
Bitcoin Cash [BCH] Price Analysis: Bears return as market correction precipitates decline
Bitcoin [BTC]: Dubai gets its first ATM; users can acquire BTC using any fiat currency
Stellar and IBM’s World Wire gets another boost as MatchMove joins service
- Press Release
Blockchain technology in the Utilities and Energy Market explored at the Blockchain Expo London
CFTC Commissioner: Regulated cryptocurrency market could attract institutional investors