Following the bloody weekend, altcoins try to recover against the USD. Unfortunately, Tether (USDT) was able to take the 4th position from Stellar (XLM) during the bloodbath this weekend. Keep in mind the price of all cryptocurrencies fell this weekend with most of them reaching new yearly lows. The total market capitalization almost dropped below the $100 mark. While it was able to hold above the position this weekend, it’s only a matter of time until it falls below this level with the current state of the market.
Stellar (XLM) Briefly Gets Kicked Out Of The 4th Position As Cryptocurrency Market Tumbles
On Saturday, the price of BTC fell as low as $3,195. Although it quickly recovered to $3270 before the end of trading that day, analysts believe that it’s only a matter of time until the price will get to $3000. While this level is expected to be BTCs bottom, there are chances that it may fall below this level if it doesn’t break the descending trendline soon. Within a seven day period, the price is down by 9%. It is currently trading at $3,420.05. This shows that it is up by 4.02%.
Bitcoin (BTC) Price Today – BTC / USD
Ethereum (ETH) also struggled this weekend falling lower than $83. Fortunately, it was able to recover to $85 this morning. Still, this is the lowest low it has hit within the last 18 months. Right now, ETH is trading in green at $90.39. It is up by 3.67% against the USD and down by 0.25% against BTC.
Ethereum (ETH) Price Today – BTC / USD
This morning, there was a mixture of green and red among the top ten coins. XLM was removed from 4th position briefly as it fell against the USD. Right now, it has reclaimed the 4th position trading at $0.102975. This shows that it is up by 4.24% against the USD and down by 0.16% against BTC. The trading volume over a 24 hour period is $72,871,647 and the market capitalization is $1,972,430,032.
Stellar (XLM) Price Today – XLM / USD
Tether (USDT), the most dominant coin in the market is trading at $1.00. This shows that it is down by -0.26% against the USD. Against BTC, it is down by 4.35%. The trading volume over a 24 hour period is $2,589,399,367 and the market capitalization is $1,863,580,448. Right now, USDT is occupying the 6th position in CoinMarketCapital’s list of largest cryptocurrencies per market capitalization.
Tether (USDT) Price Today – USDT / USD
The market capitalization for all the coins combined is $108,983,547,013. This is an improvement considering that it almost crossed the $100 billion mark during the weekend. Notwithstanding, it is still doing poorly as it is less than half of what it was a little over a month ago.
There is currently a minor bullish rally in the market. If the coins keep it up, the price of all cryptocurrencies may accumulate significant gains this week. However, if they go back to trading in red, they may create new yearly lows all over again. Investors need to be careful at this point.