CV Market Watch™: Weekly Trading Overview (11-18 May)
Cryptovest
Published May 18, 2018 09:47AM ET
Updated May 18, 2018 10:01AM ET
CV Market Watch™: Weekly Trading Overview (11-18 May)
Bitcoin (BTC) was reassuring in the first half of the week, but after a shakedown on Thursday the asset sank toward the $8,000 level, with no chance of breaking above $10,000 soon. Altcoins also retreated.
Bitcoin (BTC) is down to $8.159.81, down 6.5% this week. During the week, the trading profile of Bitcoin changed dramatically. Trading activity for BTC fell to around 30% of all deals.
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Bitcoin trading volumes sank to just above $6 billion, and the share of the Japanese Yen fell to lows of 14%, before trading suddenly exploded to above 53%. The share of US dollars fell, after dominating 30% of deals. The influence of Tethers (USDT) decreased from above 30% to regular levels around 16%. The dominance of BTC in terms of market capitalization inched up to 37.6%.
Ethereum (ETH) broke the rising trend, and sank below $700 again, as the asset often suffers through sell-offs. ETH sank by 1.6% net this week, to $684.77. Despite being listed by China as the most robust blockchain in a recent top 28 chart, the price shows weakness and selling pressures.
Ripple (XRP) hovered almost unchanged at $0.67, down around 3% on the week net, after the price was shaken down again. Trading volumes are sinking for XRP.
Bitcoin Cash (BCH, BCC) returned to a lower range, losing more than 15% net this week, to $1200.90, down an additional 6% in the past 24 hours. The asset slumped after the planned hard fork passed on May 15, without an upward effect on the price.
EOS (EOS) had a mixed bag of days, with some rapid growth, but also setbacks. EOS headed for the weekend with a price of $12.72, down a net 18% in the past week, as the approaching mainnet launch is not helping the price.
Litecoin (LTC) lost 6.5% in the past seven days, to $130.09, down nearly 4% in the past day. The asset did not benefit from the Consensus 2018 conference, where the founder, Charlie Lee, was extremely prominent.
Cardano (ADA) is back down to $0.24, as the asset lost the hype, and erased around 9% in the past week.
Stellar (XLM) remained without change at $0.31, with a net slide of 2% in the past seven days, and a 4% loss ahead of the weekend. The network competes for attention, and the asset’s price has started to drift sideways.
IOTA (MIOTA) slid by nearly 9$ to $1.76, as the Trinity wallet is still in beta testing, and the mentions of potential partnerships cannot lift the asset.
TRON (TRX) hsa found support, sliding only 0.68%, to $0.068. Although the asset may need to be sent to exchanges by the end of May, activity seems subdued.
NEO (NEO) slid to $58.61, down around 10% in the past week, as demand fell, and the Consensus conference failed to inspire price growth.
DASH (DASH) displaced Monero, but slid a net 5% this week to $382.09.
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Monero (XMR) is at $189.94, down around 10% this week, as the project has slid after the disabling of ASIC mining.
NEM (XEM) hovered at $0.30, down 4.8% this week, as attention moved to newer digital assets.
The past few weeks showed that a bull market across the board may not be possible, but separate assets manage to chart their own path. This article appeared first on Cryptovest
Written By: Cryptovest
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