Market Watch: Bearish Monday Following Bitcoin’s Drop Below $3500
It’s a new week with a massive wave of red splashing across almost all the top 100 coins of the cryptocurrency markets.
The bearish Monday has pushed Bitcoin below $3500 from a high price of $3660 on Saturday. The top three coins are recording losses of 3.05%, 4.01%, and 6,89% respectively with their current prices hovering around $3,478 (BTC), $0.297 (XRP), and $107 (ETH). The data is according to Coinmarketcap.
The total market cap is ~$114 billion | Bitcoin’s market cap is ~$60.9 billion | BTC dominance at 53.3%
Major Crypto Headlines
Iran to launch its central bank backed cryptocurrency this week. The Arabic country is drawing closer to unveil its national cryptocurrency as a way to evade the US sanctions.
Cryptos Would Only Have Value in ‘Dystopian’ Economy: JPMorgan. The investment bank has once again, showed its skepticism about cryptocurrencies stating that they would only become valuable when investors lose confidence in all significant reserve assets.
Is Crypto Adoption Finally Here? TRON is Launching its New BitTorrent BTT Token: In an exclusive interview, Cliff Edwards, Director of Global Communications, Tron’s Foundation shared information about Tron’s vision and strategic acquisition of BitTorrent.
For more news, visit our crypto news section.
Market’s Significant Gainers And Losers
Sentinel Chain (92%)
Despite the current decline in the market, Sentinel Chain (SENC) is recording gains of almost 93% against the USD with a press time of $0.007935. The price increase is coming after a bearish run over the last month. SENC has a market cap of $1,565,387 with a trading volume of $3,351,113 across all exchanges. SENC’s daily high reached $0.019, which is roughly a 500% increase.
We recently published post ICO Analysis and token price valuation for Sentinel Chain.
Beam (74.02%)
Beam (BEAM), a new kind of privacy coin based on the Mimblewimble protocol, is still on its bullish run since yesterday, recording gains of more than 74% over the last 24 hours. The coin has been receiving a lot of attention, thanks to its more advanced anonymity and scalability features. With a press time price of $2.25, Beam now boasts of a daily trade volume of $7,081,433.
SoPay (-39.92%)
Just like many other cryptocurrencies in the market today, SoPay (SOP) has its share of the general decline in prices. However, the altcoin emerged as the most significant loser with loses of almost 40% over the last trading session. SOP now trades at $0.00137 with daily volumes of $223,808.
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