Some Crypto Assets Are Trending Up Amid Today’s Drop

26. December 2017.

Some Crypto Assets Are Trending Up Amid Today’s Drop

The vast majority of cryptocurrencies may be down on the day’s trading, but new data suggests that some assets are trending up this afternoon.

As reported earlier today by CoinDesk, both bitcoin and the wider cryptocurrency market saw significant declines this morning, sending some assets as low as 30% or more in price and dropping the overall market capitalization below $500 billion. The rout also marked a significant turnaround from the gains seen earlier this week.

Market data suggests that in the hours that followed, some of the cryptocurrencies caught up in the rout are trending upwards.

During the afternoon trading session between 12:01 UTC and 18:00 UTC, the cryptocurrency RaiBlocks rose by 16.8 percent. By comparison, the Santiment Network Token climbed by 13.12 percent during that period.

Two other cryptocurrencies, QASH and Veritseum, saw minor gains within the session, with those prices increasing by 2.12 percent and 1.43 percent, respectively.

A fifth cryptocurrency, bitcoin cash, climbed 1.42 percent during the period. Yet as other of the top-10 cryptocurrencies today, BCH and the other four assets are down compared to their market highs from this week.

Several cryptocurrencies experienced notable declines during the afternoon session. Of those, dogecoin declined the most, falling by 14.3 percent in that time. Status and IOTA fell by 13.28 percent and 12.87 percent, respectively.

According to CoinDesk’s Bitcoin Price Index (BPI), the price of bitcoin fell to as low as $10,834.94 at 14:23 UTC, a figure that has since rebounded. At the end of the afternoon session, the cryptocurrency’s value was roughly $12,935.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Coinbase (GDAX’s operator).

Market graph image via Shutterstock

The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at [email protected].

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.

Published at Fri, 22 Dec 2017 19:35:48 +0000

0 0 votes
Article Rating

Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x
Register New Account
Login to
Reset Password