The total cryptocurrency market has lost $9 billion over the past few hours as the price of tokens and small market cap cryptocurrencies dropped substantially. The total cryptocurrency market cap currently stands at $212 billion.
After demonstrating a relatively strong corrective rally, the crypto market saw a decline in the value of tokens, which recorded 30 to 50% gains over the past 48 hours.
Nano, Zilliqa, and Aelf, the best performers against both the US dollar and Bitcoin on August 17, dropped by 18%, 13%, and 12.9% respectively, becoming the worst performers over the past 24 hours.
The 24-hour trading volume meanwhile stands at $12 billion, which is close to the $13 billion recorded 2 days ago.
Bitcoin price analysis
The Bitcoin price has lost 1.8% over the past 24 hours to currently trade at $6,407. The leading cryptocurrency was trading at $6,526 yesterday but a slight dip in the cryptocurrency market has seen its price also dip.
Bitcoin’s daily trading volume has dropped by $1 billion. Yesterday, the trading volume was $4.4 billion but has now dropped to $3.4 billion.
The Bitcoin price has been trading between the $6,300 and $6,500 regions over the past one week, with only a slight dip below $6,000 experienced during the week.
Ethereum price analysis
Ethereum price has dropped below the $300 mark again as altcoins suffered a dip. ETH lost 3.8% of its value over the past 24 hours, dropping from $309 yesterday to now trade at $298 per coin.
There was no apparent catalyst for the drop in Ethereum price as it reacted to the drop in the general market.
The daily trading volume has dropped by nearly $400 million. The 24-hour trading volume yesterday was $1.9 billion but has now dropped to $1.5 billion.
A look at Ethereum’s weekly chart shows that the second largest cryptocurrency has lost 8.3% of its value over the past one week. It was trading at $325 a week ago but has dropped and now trades at $298.
Ripple price analysis
XRP has dropped 2% over the past 24 hours. It hit $0.34 yesterday but has participated in the general market dip to now trade at $0.33. This drop comes after the coin rallied by roughly 16% 48 hours ago.
The daily trading volume has also dropped significantly. Yesterday’s trading volume was above $500 million but has dropped to $322 million today.
Over the past one week, XRP has gone up by 9%. It was trading at $0.30 a week ago but has gone up now trade at $0.33, after experiencing a weekly high at $0.37 during the week.
EOS price analysis
EOS has lost 2.6% of its value over the past 24 hours. The smart contract and DApp cryptocurrency was trading at $5.44 yesterday but has dropped to $5.21. The 24-hour trading volume has also slipped from $945 million to $643 million.
The EOS price has gone up by nearly 2% over the past one week. It, however, experienced dips below the $5 mark and highs above $5.55 mark before settling at its current price of $5.21.
Litecoin price analysis
Litecoin is currently trading at $57 per coin. The currency has dropped by 3% over the past 24 hours, from $59 to $57. The 24-hour trading volume has also dropped from $263 million to $221 million.
There was no apparent catalyst for this drop in price as LTC reacts to the slip in the general market.
Over the past seven days, LTC has lost 5.4% of its value. It was trading at $60.51 a week ago but has now dropped to $57.14. The currency witnessed a dip at $51 and also a weekly high at $61.