The last 24 hours have been tough for cryptocurrencies as most of them have been in the red. Here’s how the top five digital assets by market capitalization performed over the last 24 hours.
Bitcoin, the world’s largest cryptocurrency, traded at $9,236.75. The cryptocurrency’s weekly performance remains positive at 0.31%.
BTC accounted for 28.11% of the industry’s total 24-hour trading volume, which translates into $166.58 billion.
Ethereum, the native cryptocurrency of the blockchain platform that enables the development of decentralized applications (DApps), traded at $187.41, but added 2.22% over the last seven days.
XRP, the cryptocurrency underlying Ripple’s payment network, traded at $0.292, losing 3.05%. The poor performance has neutralized its growth from previous days, as its week performance shows a 1.98% loss.
Bitcoin Cash (BCH)
Bitcoin Cash (BCH) or BCash — which split from Bitcoin through a process called Hard Fork in 2017 — traded at $291.93, a 3.11% loss.
BCash is backed by former Bitcoin proponent Roger Ver who controversially claims that it's the real Bitcoin. The cryptocurrency has only 3% of Bitcoin’s market capitalization.
Tether, being a stablecoin, doesn’t work the same way as the rest of the cryptocurrencies on this list. Tether is a U.S. dollar-backed currency (a highly contested claim) and strives for its market price to be stable around $1.
Trading volume is a better indicator of its performance rather than the market price, which sees a lot fewer fluctuations compared to others.
As of press time, it traded at $1.00.