It’s time for our Weekly Recap once again, where we talk about how the market fared in the last 7 days by looking at the movements of the top 10 cryptocurrencies by market capitalization, and we also find out which token performed the best in that time. Let’s take a look at what happened:
Top 10 Cryptocurrencies - Market Value
1 - BTC: $7266, with a change of -0.36% since yesterday and -14.51% since last week.
2 - ETH: $151.24, with a change of 0.68% since yesterday and -17.18% since last week.
3 - XRP: $0.233, with a change of 0.91% since yesterday and -11.24% since last week.
4 - USDT: $1.005, with a change of 0.00% since yesterday and 0.20% since last week.
5 - BCH: $210.49, with a change of 1.49% since yesterday and -20.67% since last week.
6 - LTC: $47.54, with a change of 0.08% since yesterday and -18.53% since last week.
7 - EOS: $2.636, with a change of 0.15% since yesterday and -22.03% since last week.
8 - BNB: $15.79, with a change of 1.74% since yesterday and -21.75% since last week.
9 - BSV: $103.64, with a change of 7.18% since yesterday and -16.19% since last week.
10 - XLM: $0.06068, with a change of 1.95% since yesterday and -15.06% since last week.
Another week of drops all around. The predictions of crypto finishing the year in a low note are becoming realer with every week that passes, and this one is certainly one to highlight, with the entire market losing nearly $40 billion to drop below the $200 billion mark for the first time since May 2019.
All the major coins saw drops above two digits, with BTC reaching nearly 15% in drops, and is now trading around the $7,300 mark again, also since May. Some reports are linking this decline to the People’s Bank of China declared that measures would be taken to fight against cryptocurrency exchanges that operated illegally in the country.
This comes after the public announcement of support to blockchain technology from the Chinese government, which some traders might have taken advantage on to perform unauthorized operations. After this, rumors of possible takedowns of legitimate businesses have spread, and that fear is what might be dragging down the prices. However, some analysts are optimistic about this situation, as situations of fear are often followed by periods of greed, so there is a chance of a resurgence before we welcome 2020 in a few weeks.
Top 10 Cryptocurrencies - Performance
1 - PRE: $0.005233, with a change of 207.82% since last week.
2 - AKRO: $0.001599, with a change of 118.20% since last week.
3 - VRA: $0.0003634, with a change of 46.51% since last week.
4 - ENG: $0.4227, with a change of 46.43% since last week.
5 - FDZ: $0.002441, with a change of 36.39% since last week.
6 - KEY: $0.00218, with a change of 35.05% since last week.
7 - EDC: $0.009811, with a change of 31.18% since last week.
8 - AMP: $0.001745, with a change of 27.83% since last week.
9 - DGTX: $0.05402, with a change of 24.70% since last week.
10 - MFT: $0.001236, with a change of 21.86% since last week.
As we do, we will release a special feature covering the best performing token of the week, which means that in the next week’s article we will talk about Presearch, a blockchain-powered search engine that relies on the community to keep the results updated and takes advantage of the distributed nature of blockchain to avoid malicious results from popping up, aiming to replace the corporate nature of current engines like Google and Bing.