Daily Price Analysis 08/30: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), EOS, Litecoin (LTC)

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The total cryptocurrency market has lost $7 billion over the past 24 hours. The drop comes as Bitcoin and most of the top ten alts shed a bit of value. Yesterday’s total crypto market cap was sitting around $230 billion but has now dropped to $222 billion.

The daily trading volume, on the other hand, has remained stagnant at $13 billion over the past 24 hours.

Bitcoin price analysis

The leading cryptocurrency has lost 2% of its value over the past 24 hours and has dropped below the $7,000 mark. Yesterday, BTC was trading at $7,106 but has now dropped to $6,942.

Bitcoin wasn’t able to hold on to its gain though it seems to have established a strong support at $6,800.

Yahoo Finance announced that it has integrated Bitcoin trading on its platform but that hasn’t stopped the decrease in price.

The 24-hour trading volume has also dropped over the past few hours, dropping from $4.5 billion to now stand at $4.2 billion.

Despite the slight decline over the past few hours, the Bitcoin price has still appreciated by 7.3% over the past one week. Bitcoin was trading at $6,431 a week ago and rose steadily to reach a weekly high of $7,107.

Ethereum price analysis

Ethereum has shed the gains it recorded over the past two days. The second largest cryptocurrency has lost 4% of its value over the past 24 hours, dropping from $285 to now trade at $279.

The drop comes despite Yahoo Finance announcing that it has integrated Bitcoin, Ethereum and Litecoin trading services on its platform.

Despite the price decline, the daily trading volume still stands at $1.5 billion.

A look at Ethereum’s weekly chart shows that the cryptocurrency hasn’t recorded much gain. It was trading at $276 per coin a week ago though it experienced a weekly high of $297.

Ripple price analysis

After rising to $0.34, XRP has now lost 5% of its value to now trade at $0.52. Amongst the leading cryptocurrencies, Ripple was the biggest loser over the past 24 hours. There was no apparent catalyst for this drop as it participated in the wider market slip.

The daily trading volume of the cryptocurrency is down by $50 million. XRP’s 24-hour trading volume yesterday was $316 million but has since slipped to currently stand at $266 million.

A week ago, XRP was trading at $0.32 and is still trading at that price now. It, however, experienced a rise to $0.35 during the recent rise in crypto prices.

EOS price analysis

After rising by more than 5% yesterday, EOS has lost some of that gain over the past few hours. EOS was trading at $6.20 yesterday but the decline in the general market led to a drop $5.87.

EOS developers are currently looking for solutions after identifying a smart contract bug that allows malicious contract authors to effectively consume network resources owned by other users.

The daily trading volume has moved in the opposite direction. The 24-hour trading volume for EOS yesterday was $731 million but has now gone up to $663 million.

EOS has gained 18% over the past one week. The cryptocurrency was trading at $4.77 a week ago but started rising steadily and now trades at $5.87 after rising past the $6 mark yesterday.

Litecoin price analysis

LTC also lost big over the past 24 hours, shedding 4% of its value during that timeframe. Litecoin was trading at $63 yesterday but has now dropped to $59 per coin.

The 24-hour trading volume has also slipped, dropping from $245 million yesterday to its current level of $209 million.

Meanwhile, a look at its weekly chart shows that it has appreciated by 6.7% over the past seven days. It was trading at $55 a week ago but experienced a weekly high of $63.

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