Ethereum’s Market Share Sinks To A 30-Month Low

Ethereum s Market


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Ethereum’s share has seen better days since it is down again creating a pattern for the past 30 months as we are reading in the coming altcoin news below.

The world’s second-largest by market cap is in real bad shape recently in terms of price. Ethereum has ditched more than 7.5% percent today following a week of losses from the brief increase to $240. Being at the $225 yesterday, ETH plunged below $210 as it is continuously sliding towards the psychological $200 cliff edge. Aside from EOS which is also in a steep correction, Ethereum is the worst performing asset in the top twenty. Since it lost the support at $350 in June, ETH dumped about 40% in to current levels and bitcoin only lost about 15% from its 2019 high. This major disparity has crushed Ethereum’s market share to a 30 month low of about 7.6% according to the data from Tradingview.

According to the Coinmarketcap charts, Ethereum’s market share has now been this low since the end of February in 2017. This was before the major altcoin run that started in the summer and also during the ICO boom that followed. The closest that the assets have been was in June 2017 when BTC dipped below 40% while Ethereum was above 33%. The crash in ETH prices and market share has bitcoin a year high advance in terms of dominance since bitcoin tapped 71% earlier. Not only did Ethereum crush in terms of price and market share, but the realized volume is also at its lowest point in the past four months according to Skew Markets Data.

At the moment, ETH volume is currently about $7 billion and its highest point was at about $18 billion in mid-May during the first action rally for more than a year. Ethereum’s market cap is dropping also very hard as it returns towards the $20  billion where it was in early May. None of this is good news for Ethereum holders but as we have seen in the past this crypto asset is one of the first to rebound when the things go sideways.

Ethereum is now gaining attention in China causing some to believe that there will be a 50% surge in price that could take over the rest of this week. As we can read in the latest cryptocurrency news, the next week could be a bloody one for Ethereum and other assets since bitcoin’s return caused a huge avalanche.

The post Ethereum’s Market Share Sinks To A 30-Month Low appeared first on DC Forecasts – Leading Digital Currencies.


Source: dcforecasts
Ethereum’s Market Share Sinks To A 30-Month Low

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Ethereum Market Share Crashes to 30-Month Low

ethereum

is no disputing that has been ruling the crypto realm in recent weeks. However, its epic rise in market share has been at the expense of many other high cap crypto assets including Ethereum, which continues to be battered by bearish traders.


Ethereum Dominance Lowest For 2.5 Years

The world’s second largest crypto by market capitalization has not been in good shape in terms of price. Ethereum has ditched a further 7.5% today following a week of losses from a brief run up towards $240. From at support over $225 yesterday, ETH has plunged below $210 today as it slides precariously towards that psychological $200 cliff edge.

Aside from EOS, which is also experiencing a steep correction, Ethereum is the worst performing altcoin in the top twenty at the time of writing. Since its lofty height above $350 in mid-June, ETH has dumped 40% in value to current levels. Comparatively, bitcoin has only lost 15% from its 2019 high

It is this disparity that has crushed Ethereum market share to a 30 month low of 7.63% according to Tradingview charts.

ethereum

ETH market share – Tradingview.com

Coinmarketcap.com charts, which go back a little further, report that Ethereum market share has not been this low since February 2017. This before the big altcoin run that began in the summer of the same year and the ICO boom that . The closest the top two crypto assets have been was in June 2017 when BTC share dipped below 40% while Ethereum was above 33%.

This slump in ETH prices and market share has gifted bitcoin a two year high in terms of dominance as BTC taps 71% today. Bitcoin now commands more of the crypto market than it did in December 2017 when the asset skyrocketed to its all-time price high.

Not only has Ethereum plunged in terms of price and market share, realized volume is also at its lowest point in four months according to Skew Markets data.

At the moment ETH volume is currently around $7 billion. Its highest this year was over $18 billion in mid-May during the first altcoin rally for over a year. Ethereum market cap is also dropping like a stone as it returns towards $20 billion where it was in early May.

None of this makes good reading for Ethereum holders but as we have seen in the past this crypto asset is one of the first to rebound when things finally pick up for altcoin markets.

Will Ethereum see resurgence this year? Add your thoughts below


Images via Twitter @Skew_markets, Coinmarketcap, Shutterstock

The Ethereum Market Share Crashes to 30-Month Low appeared first on Bitcoinist.com.


Source: bitcoinist
Ethereum Market Share Crashes to 30-Month Low

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Bitcoin market share rises, what is “lottery-like” Altcoin? – OBN

Bitcoin market share rises, what is “-like” Altcoin?  OBNThe in BTC market share and the start of restrictions on access to exchanges for U.. traders has led to the suggestion of “altcoin winter”.
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We’re excited to share that we have been working on a Open Source RaspiBlitz Case, RUN YOUR OWN NODE!

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Source: BTC
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Market Cap Share of Mineable Alt Coins. AKA, the Dirty Dozen.

Market Cap Share of Mineable Alt Coins. AKA, the Dirty Dozen.

Since this chart doesn’t change very fast, I will publish it weekly. I’m also storing up data so I can post a “change over ” chart, but that will take a couple months. If you are unfamiliar with the “Dirty Dozen”, it a book and then a movie about 12 guys were outcasts in the army. They were in trouble, and they had shady pasts. But they were the opportunity to take on a near impossible task to make a difference in the war for the side of good. Not a bad analogy for the Alt Coin sector. A bunch of little upstarts giving the finger to the big bad banking industry.

Dash is purple, and we should be absolutely crushing LiteCoin. Plenty of room for improvement.

https://i.redd.it/ayxh1hzh0gd31.png

The pie chart is somewhat busy. Here is the “exploded” . Let me know which you prefer:

Explody Alt coin Pie chart

submitted by /u/solarguy2003
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Source: dashpay
Market Cap Share of Mineable Alt Coins. AKA, the Dirty Dozen.

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Unique Zero-Fiat ‘Bitcoin Bond’ Debuts on Bloomberg Terminal

Bitcoin investment

The range of Bitcoin investment options for institutional and retail investors continues to expand as two European companies debut a zero-fiat Bitcoin Bond on Bloomberg Terminal.


This one is for the HODL Crowd

A recently published press release shows that the London Block Exchange (LBX) and Argento have partnered to develop a zero-fiat bond which is denominated in Bitcoin. The UK and Luxembourg-based companies proudly proclaimed that the product is the first ever Bitcoin Bond in existence and according to Argento manager Phil Millo, “The large investment banks really dropped the ball on this one.” 

 

What the bond unique is that it is the first regulated cryptocurrency financial product with a dedicated ISIN code and the bond offers zero fiat exposure to investors. Accessible via the Bloomberg Terminal, the product is specifically targeted toward long investors and LBX CEO Benjamin Davies describes the bond being the most suitable for Bitcoin investors looking to grow their long-term Bitcoin wallets in an institutional grade their holdings are not exposed to traditional currency market fluctuations. 

Institutional Grade Products Gain Ground Everywhere Except the U.S.

The bond is regulated by the United Kingdom’s Financial Conduct Authority (FCA) and Argento has cleverly titled the various bond durations ‘FOMO’, ‘HODL’, and ‘MOON’, each of which is a standard crypto-oriented acronym commonly used by members of the cryptocurrency community.  

Keen investors will note that while the FCA has been stringent in regulated crypto-based financial products and putting a stop to crypto scams, the approval of the zero-fiat bond eclipsed Bakkt’s thrice-delayed debut. Institutional grade crypto-investment products are steadily racking approvals worldwide as the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) continue to drag their feet in approving institutional grade crypto-products like Bakkt’s Bitcoin exchange and the long-awaited Bitcoin-based Exchange Traded Fund (ETF). 

Another setback to note is Binance’s announcement that US-based users would be barred from using the exchange starting in September as a number of the assets listed on the exchange cannot be legally offered to U.S.-based investors. Binance CEO Changpeng Zhao explained that the company intends to launch a regulatory-compliant version of  Binance through its partner BAM but exact details of the exchange and its launch date have yet to be released.  

Do you think investors will rush into this new zero fiat Bitcoin Bond? Share your thoughts in the comments below! 


Images via Shutterstock, Coveware.com

The post Unique Zero-Fiat ‘Bitcoin Bond’ Debuts on Bloomberg Terminal appeared first on Bitcoinist.com.


Source: bitcoinist
Unique Zero-Fiat ‘Bitcoin Bond’ Debuts on Bloomberg Terminal

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Bitcoin Traps Gold’s Market Share as Sovereign Bonds Become Unattractive

Bitcoin’s revival is considered to be Facebook’s Libra doing. The social media’s giant sudden foray into the cryptocurrency industry gave bitcoin, as many believe, a reason to grow its valuation.

That is until one considers a simultaneous price rally that took in the gold market. Bitcoin’s rise above the $13,000 level has only one potential link to the yellow metal’s ascent above $1,400 an ounce: a weaker US dollar sentiment.

bitcoin, bitcoin price, btc usd

Bitcoin has Recovered by More than 275% Since Its Bounce Back from the $3,120 Level | Image Credits: TradingView.

Gold, Bitcoin against US Dollar

The trouble in the American greenback started with politically-influenced overborrowing. President Donald Trump’s massive tax cut of $1.5 trillion in 2017, followed by his pressure on the Federal Reserve to the interest rates steady burdened the US with a $22 trillion debt and $1 trillion in deficits. Ahead of the 2020 elections, President Trump is hinting more tax cuts. Atop that, the Fed has declared that it is going to cut rates in July.

The impact is already out in the open. The US dollar on Thursday drifted further away from its highs, although the index recovered from its three-month lows of 95.843 in June. Waning sentiments for a resolution in the ongoing US-China trade war is also hurting the dollar sentiment.

“Everyone from the Reserve Bank of Australia to the Fed is talking  inflation disappointing to the downside,” Mayank Mishra, Singapore-based macro strategist at Standard Chartered, told CNBC. “The Fed arguably has more to ease than anyone else. That, in theory, should lead to a weaker dollar.”

The dwindling sentiment in the greenback market is lending credibility to both traditional and modern safe-haven assets, including bitcoin and gold.

Holger Zschaepitz, the financial correspondent at WELT, a Berlin-based financial service, noted that the cryptocurrency had passed the digital divide towards the yellow metal. He said on Thursday:

“Bitcoin gaining traction as store-of-value and digital gold in this crazy politicized central bank world with negative or lower for longer low rates. Digital currency passes digital divide toward Gold. Both assets reached key thresholds in June, $10k &; $1,400, now trade in tandem.”

Miles to Go

Many analysts think that bitcoin still has to solve its price volatility before it becomes a store of value asset. .com reports that investors are hedging into bitcoin as a lottery ticket while hunting for returns.

Meanwhile, prominent gold bull Peter Schiff says that the cryptocurrency is a “fool’s gold,” mainly because it has no intrinsic value like the yellow metal, which still gets used for industrial purposes. While arguing with Barry Silbert, the founder & CEO of Digital Currency Group, Schiff noted that people buy bitcoin expecting they would be able to sell it at a higher rate in the future.

“This is pure speculation,” he added.

The post Bitcoin Traps Gold’s Market Share as Sovereign Bonds Become Unattractive appeared first on NewsBTC.


Source: newsbtc
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Bitcoin Rally Crushes Alt Season Hopes, Small Cap Coins Down 54%

Bitcoin

New data is laying bare the extent of altcoin losses in 2019 as Bitcoin 00 steals lion’s share of the cryptocurrency market. 


70 ‘Alts’ Down 19 Percent Against BTC

Published by digital asset firm Bletchley, a variety of indices put some altcoin losses at over half since April this year. The has remained intact in recent weeks, despite volatility in the Bitcoin price. 

At press time, it was smaller-cap tokens which showed the worst performance, trading 54 percent down in the past three months. 

That number improves slightly among other indices tracking altcoins with larger market caps, such as the top ten.

Overall, Bletchley , the top 70 altcoins – selected according to meeting various criteria – has gone from 0.048 BTC to 0.039 BTC since April 1, a shift of 18.75 percent.

“There are plenty of people who still think ‘alt season’ is just the corner, but all eyes are on Bitcoin right now,” crypto journalist and commentator Kyle Torpey wrote in comments on the figures. 

Altcoins’ Dot Com Boom

As Bitcoinist reported, that idea that the ongoing Bitcoin price rally will ultimately spark a knock-on effect for altcoins is being increasingly called into question. 

Unlike in 2017, analysts worry that this time around, Bitcoin is definitively differentiating itself from the rest of the crypto sphere. 

According to veteran trading guru Peter Brandt last week, for instance, every token from Ethereum downwards is on the losing , and only a few will survive the rout. 

Brandt likened the current climate to the Dot Com Boom of the 2000s, noting how a return to form from the initial crash failed to materialize for all but a handful of such as Amazon. 

Traders should be focused on Bitcoin only at this point, he had said, eyeing a potential trajectory to $100,000.

“No other market in my 45 years of trading has gone parabolic on a log chart in this manner. Bitcoin is a market like no other,” he summarized on social media. 

Indeed, in of attention, Bitcoin will continue to profit more than ever into 2020, thanks to the launch of multiple institutional investor products. 

Three of these will be physically-delivered Bitcoin futures, where investors take delivery of , not cash. Bakkt, first of the thre will begin a trial later this month. 

Crypto exchange Binance and trading platform ErisX will also follow suit, the latter having received US regulatory permission last week.

What do you think is the future for altcoin markets? Let us know in the comments below!


Images courtesy of Shutterstock, Longhash.com

The post Bitcoin Rally Crushes Alt Season Hopes, Small Cap Coins Down 54% appeared first on Bitcoinist.com.


Source: bitcoinist
Bitcoin Rally Crushes Alt Season Hopes, Small Cap Coins Down 54%

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