Cryptocurrency News

Cryptocurrency Fails to Sustain Yesterday’s Jump

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The jump met with a slump yet again! What was meant to be a silver lining in the dark clouds has disappeared with another blow of crypto slug. Cryptocurrency markets have slid down even after a hopeful jump yesterday, thus sending the market reeling yet again. Bitcoin is down by 2.5% a day. It is currently trading at $4,125 to $4,457 at the peak time today. According to the CoinTelegraph, Bitcoin has dropped by 5%, while the monthly losses are 5.15%.

Ripple, the second largest cryptocurrency by the market is also down by 5% and is trading at $0.376 at press time. XRP’s market cap is around $15 billion, and its daily trading volume is about $654 million. The weekly chart of cryptocurrency is also dull, down by almost 13% with the token reaching a high of $0.435 and a low of $0.327 over the past seven days.

It is to be noted that Ethereum also lost 5% and is now trading at around $117.99 at the press time. However, cryptocurrencies like TRON and Zcash are seeing a little profit and are up by 1.8 and 5.35 percent. On Nov 29, major US-based cryptocurrency exchange Coinbase announced it had added support for Zcash on the Coinbase Pro platform. EOS and Bitcoin Cash are showing very poor performance over the past 24 hours. EOS has lost more than 11% on the day and is trading at $2.96 at press time. BCH has dropped by over 8% on the day and is trading at around $179.74. The coin’s highest price was $198.

This, however, is in contradiction to the market capitalization of cryptocurrencies, which saw a spike from $115 to $136.8. In the meantime, TRON declared that it would launch a blockchain gaming fund TRON Arcade. The project will see an investment totaling $100 million over the next three years.

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