Over the last seven days, we have had another tough week, there has been an overriding general pattern that mirrored the global market capitalization. Over seven days, the market cap is down 9% from $ 276 billion to $ 251 billion. But one good sign is that some players in the top 100 didn’t follow the pattern, indicating that maybe we are ready to break free from the market slavishly following Bitcoin and Ethereum in bearish moods. And we have green signs of growth from Sunday night to Monday morning, so cross your fingers and hope for a good week to follow.
Bitcoin is doing better than the general market, ok at the start of the week and then dropping below the 6k mark, something a lot of commentators find to be a bad mid-term sign. Note it only lost 5% across the week whilst the leading altcoins were 10 - 25% losses.
Ethereum, struggling to get back on top of the $ 500 line and languishing around the $ 450 mark.
Ripple, following the pack above, losing five cents and 8.33% across the week.
Bitcoin Cash slicing off 11% in value on the seven days.
EOS, concerns in the community over centralized power, confusion on getting wallets set up, a phishing scam clearing some investors out, all making it a darker week for the new network on the block, down nearly 24% to $ 7.86; looks like it is heading for a $ 5 bottom.
Litecoin, Stellar, Cardano, moving almost as one, 15-18% losses.
Tron, in a week where one expert dubbed it the “Frankenstein of cryptos” and it approaches its Independence day, over 7 days it lost less than 1%, 41 cents, good news for the team there.
Let’s look for the lucky winners in the top 100, and head and shoulders above the pack from New Zealand is Centrality, as they announced they had become an Amazon (NASDAQ:AMZN) Web Service trusted partner and had an 80% peak, a great weekly average at just above 55% in gains.
Basic Attention Token, the privacy browser project, seeing a 6% increase over the week after news of a new user trial system launch was announced midweek that pushed the price by 24% over 24 hours.
Ethereum Classic enjoying its new home on Coinbase and newfound attention, 4.4% weekly gains and Monero doing itself proud with a 3.66% gain, and gaining again today.
And now, which coins got hammered this week? Well, it turns out the market doesn’t like anything that begins with Byte.
Bytecoin, one of the few currencies that bucked the market last month with good gains, listed itself on a Cyprus exchange mid-week, went up and then fell through the floor as somebody used the new route to exit, down 35% over the week,
And Bytom slip sliding away all week to say goodbye to 35% of its value.
This article appeared first on Cryptovest