Sea of red for crypto, BTC holds above $5,200

26 Apr, 2019 | Updated: 26 Apr, 2019
by Joeri Cant
Price Action
Sea of red for crypto, BTC holds above $5,200

The cryptocurrency market took a bad hit, following the controversy surrounding the Tether and BitFinex 'fraud' news, with most coins remaining well into the red, while Bitcoin recovered slightly from its plunge to $5,005 per coin on Thursday. 

The entire crypto ecosystem took a plunge on Thursday, and although many have regained some ground, most are still deep into the red candle sticks.

After breaking above the $5,500 price mark yesterday, followed by an immediate plunge to $5,005 per coin, BTC regained some ground, and is currently trading at $5,235.31, dropping more than 5% on the day.

Currently, the market cap is sitting at $169,245,350,935, down about $10 billion since yesterday, while Bitcoin dominance is still around 54.7%.

All top 10 coins are in the red, but hardest hit was Cardano which saw its price slip -10.88% to $0.067.

The largest altcoin by market capitalization Ethereum has also taken a beating from yesterday's news, having lost 6.74% in the last 24 hours. Ethereum is currently trading at $154.39, which is a new weekly low.

Ripple saw a 2.82% loss in the last 24 hours, and is currently trading at around $0.294. The third most popular crypto coin saw its weekly low today at $0.288, while its weekly high was at $0.332 on April 19.

Tether is still down, not surprisingly, with a -1.77% drop to $0.989.

Despite recent news we still have some gainers today, being DigixDAO, and Maximine Coin, with gains around 19% each, followed, not that closely by Bitcoin SV, taking third place, with a modest gain of 2.48%, which is still pretty impressive on a day like this.

Biggest loser of the day is Nano, which recorded a loss of more than 16%, and is currently trading at a $1.52 price mark.

Now that we had to endure the Bitfinex and Tether headlines, we can safely say that uncertainty is amongst us once again and as a result we might see the bullish sentiment slowly fade away yet again.

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