Blockchain Market Update: 26 November 2018

NKB TEAM 26. 11. 2018

The crypto sell off continues as last week wiped almost another 34% off the total market cap, bottoming at $115 million. Bitcoin has fallen to its 420-day low at around $3,500 representing a 36% weekly loss. Although this Monday will bring Americans back from the holidays, which has helped to push the price towards $4,200, BTC is currently back below $4,000 and continues to fight its support. Ethereum is no different, more than a 37% intra-week loss has brought ETH towards double digits at $99 on Sunday, and the same as BTC, ETH has slightly recovered and currently sits at $114. The sell-off has no particular trigger, although some may argue with the increased negative activity of the SEC, Bitcoin Cash and Bakkt launch delay, experienced traders called sub $4k and BTC is most likely bottoming at ~$3k from August via historical BTC charts.

  • Bitcoin’s dominance rose to 53.9% from 53.4% a week ago. The total Crypto Market fell by almost 27%, and overall volume has increased 32%. Bitcoin is down by more than 25%, Ethereum lost 29%, XRP is down by 24%, and EOS is down by 21%. Best performers among top-40 crypto were Bitcoin Diamond (-10.4%) and Dogecoin (-16,3%).
  • US Justice Department Tether Investigation
  • European Commission Launches Blockchain Association
  • UK Considers Banning Crypto Derivatives
  • Major OTC Desks Creates OTC Sport Index
  • Bakkt Moves BTC Futures Launch
  • ICOs Liquidated 172,000 ETH Over Past 2 Months
  • Bitcoin Merchant Payments Down by 80%
  • Auditor Claims USDC Stablecoin is Fully Backed
  • Ethereum Development Plan Acceleration
  • Singapore Authority Approves Digital Security Exchange

Date: 26 November 2018

Crypto MktCap: $128 bn

24h volume: $19.8 bn

BTC dominance: 53.9%

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NKB TEAM 26. 11. 2018

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