Bitcoin Value Dips Again Beneath $8K as Prime Cryptos See Average Losses


Saturday, June 8 — many of the prime 20 cryptocurrencies are reporting average losses on the day by press time, as bitcoin (BTC) falls underneath the $7,900 mark.

Market visualization courtesy of Coin360

Bitcoin is down almost 3% on the day, buying and selling round $7,870 at press time, in accordance with CoinMarketCap. its weekly chart, the coin is down over 8%.

Bitcoin 7-day price chart. Source: CoinMarketCap

Bitcoin 7-day worth chart. Supply: CoinMarketCap

As Cointelegraph reported yesterday, cryptocurrency funding merchandise and analysis agency CoinShares estimates that 74.1% of bitcoin mining is powered by renewable power in its bi-annual mining report.

Ether (ETH) is holding onto its place as the biggest altcoin by market cap, which at present stands slightly below $26 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $17.Three billion at press time.

CoinMarketCap knowledge reveals that ETH has seen its worth lower by about 3.5% over the past 24 hours. At press time, ETH is buying and selling round $244. On the week, the coin has additionally misplaced over 8.6% of its worth.

Ether 7-day price chart. Source: CoinMarketCap

Ether 7-day worth chart. Supply: CoinMarketCap

XRP is down by simply over 4% over the past 24 hours and is at present buying and selling at round $0.409. On the week, the coin is down about 5%.

XRP 7-day price chart. Source: CoinMarketCap

XRP 7-day worth chart. Supply: CoinMarketCap

Among the many prime 20 cryptocurrencies, the one reporting essentially the most notable losses is tezos (XTZ), which is down over 8% on the day.

At press time, the total market capitalization of all cryptocurrencies is $251 billion, about 7.2% decrease than the worth it reported per week in the past.

Total market capitalization 7-day chart. Source: CoinMarketCap

Whole market capitalization 7-day chart. Supply: CoinMarketCap

Yesterday, information broke that a number of sources predict Fb to launch the white paper for its bespoke cryptocurrency on June 18.

At the moment, Cointelegraph reported that United States-based monetary analysis agency Weiss Scores introduced that it has downgraded its ranking of EOS. The agency cited “severe issues” with centralization within the EOS ecosystem.

EOS, ranked sixth largest coin by market cap, is at present buying and selling at $6.29, down over 6% on the day to press time.

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