Thursday, Jan. 17: crypto markets are stable, with major coins seeing negligible price change over the 24 hours to press time. Most of the top ten cryptocurrencies seeing only mild losses, capped within a 2-3 percent range. Almost half the coins in the top ten-twenty range have tipped slightly into green, as data from Coin360 shows.
Market visualization by Coin360
After an intraweek tumble to ~$3,550 Jan. 13, Bitcoin (BTC) is down a mild 0.9 percent on the day to press time, slipping from a 24-hour high of $3,685 to its current price point around $3,630.
On the week, Bitcoin is down 5 percent; monthly gains are at a solid 10.5 percent, according to CoinMarketCap.
Bitcoin 7-day price chart. Source: CoinMarketCap
Ripple (XRP), which has recently regained its rank as largest altcoin by market cap, is down fractionally more, shedding 1.4 percent on the day to trade at ~$0.33 to press time. Ripple’s market share is currently $13.5 billion — as compared with Ethereum (ETH)’s $12.7 billion.
After a volatile and jagged week, Ripple is about 5 percent in the red on its 7-day chart, with monthly gains nonetheless at a solid 13 percent.
Ripple 7-day price chart. Source: CoinMarketCap
The second largest altcoin, Ethereum (ETH), is down a slightly less mild 2 percent on the day, and is trading at ~$122 to press time. The alt has correlated closely with Bitcoin’s trading patterns, seeing an intraweek low of ~$116 Jan. 13, and recovery to ~$131 Jan. 15.
On the week, Ethereum is down a hefty 9.6 percent, but monthly gains are at an impressive 41 percent.
Ethereum 1-month price chart. Source: CoinMarketCap
The remaining top ten coins on CoinMarketCap are all in the red, but losses are capped at 2-3 percent. Seeing the most volatility is Litecoin (LTC), down 2.86 percent at $31 to press time, and recently-forked Bitcoin SV (BSV), which is down 1.83 percent at $77. Bitcoin Cash (BCH), too, is down 1.6 percent at about $128.
The remaining coins in the top twenty by market cap are seeing more scatterings of green, capped at 2 percent, with the highest losses capped under 4 percent.
7-day chart of the total market capitalization of all cryptocurrencies from CoinMarketCap
In Australia, meanwhile, the World Wildlife Fund-Australia (WWF-Australia) has just announced the launch of a supply chain tool that uses blockchain to allow businesses and consumers to track food items.