Crypto Market Decline Aggravates as Ripple and Ethereum Hit Yearly Lows

Gladys Abbott
August 18, 2018

The cryptocurrency market is in "panic mode" as the values of bitcoin and other digital coins plummet following a series of mass sell-offs.

"Based on the analysis of Woo, a likely scenario for Bitcoin and the rest of the crypto market is to record another major drop in the near future, bottoming out at a lower range of prices, and demonstrating stability before initiating a proper mid-term rally", CCN's report read.

Ether, which is the second largest cryptocurrency behind bitcoin, was the biggest loser among the top five by market capitalization and fell to its lowest level since September, according to historical data from CoinMarketCap.com.

Nimiq Exchange Token (NET) is now at $0.21 against the dollar, a 2.39% change in the last day.

XRP (XRP) traded up 8.2% against the dollar and now trades at $0.29 or 0.00004504 BTC.

Currently, price action indicates that investors, and moreover traders, are more interested in events that could affect the immediate price action of Bitcoin, and that they are mainly looking towards upcoming Securities and Exchange Commission decisions regarding Bitcoin ETF approvals.

Footy Cash (XFT) traded 14.3% higher against the dollar and now trades at $0.40 or 0.00004315 BTC.

Sapien (SPN) is now at $0.00 against the dollar, a -4.65% change in the last day.

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TRON (TRX) traded 4% lower against the dollar and now trades at $0.0194 or 0.00000307 BTC.

CHIPS (CHIPS) traded 33.1% lower against the dollar and now trades at $0.0813 or 0.00001311 BTC.

Tether (USDT) traded 0% higher against the dollar and now trades at $1.00 or 0.00015850 BTC.

Binance Coin (BNB) traded up 9.7% against the dollar and now trades at $9.88 or 0.00156069 BTC.

Terracoin (TRC) traded 5.5% higher against the dollar and now trades at $0.0653 or 0.00001054 BTC.

IOStoken (IOST) traded 0.3% lower against the dollar and now trades at $0.0396 or 0.00000526 BTC.

First Bitcoin Capital's total supply is 3,415,923 tokens.

A version of this article was first published by our sister publication, The Bitcoin Mag. The Reddit community for Marscoin is /r/marscoin and the currency's Github account can be viewed here. Investors seeking to trade Marscoin should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, GDAX or Gemini.

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