The cryptocurrency market seems to have hit a downturn with most of the major coins seeing massive falls from their bullish peaks. Popular cryptocurrencies like Bitcoin [BTC], Bitcoin Cash [BCH], Stellar Lumens [XLM] and Litecoin [LTC] have all witnessed the wrath of the bear over the past seven days.
At the time of writing, Bitcoin Cash [BCH] saw a 7-day drop of a massive 7.47% with a total market cap of $8.951 billion. The cryptocurrency was trading at $514.89 with a 24-hour market volume of $404.518 million. Most of the BCH trade volume was held by EXX with a total volume of $332.818 million. EXX’s trade volume was much greater than the second-placed BitForex which traded a total of $76.500 million in terms of Bitcoin Cash.
Bitcoin Cash 7-day chart | Source: CoinMarketCap
Bitcoin Cash’s fall comes right after news that the cryptocurrency is going to be traded on the TD Ameritrade backed ErisX, a new cryptocurrency market. ErisX is a platform that will allow individuals to trade cryptocurrencies and other derivatives associated with virtual assets.
TD Ameritrade’s Managing Director of Forex and Futures, JB Mackenzie said:
“We expect we will have customers interested in participating. The digital asset economy has been developing so much over the last nine months and investors are crying for a regulated, transparent platform.”
Stellar Lumens [XLM] was another cryptocurrency buckling under the weight of the bear sliding at a weekly rate of 6.52%. At press time, XLM was trading at $0.241 with a total market cap of $4.259 billion. Stellar Lumens’ 24-hour market volume of $33.959 million was majorly held by Binance with a total hold of 18.81%.
Stellar Lumens 7-day chart | Source: CoinMarketCap
Binance was followed by BCEX which held 9.42% of the total trade that amounted to $3.351 million. Just a few weeks back Lumens had surpassed EOS to become the 5th biggest cryptocurrency on the back of a 26% jump in 24 hours.
Charlie Lee founded Litecoin [LTC] was also undergoing a spiral with weekly numbers showing that the cryptocurrency was falling at the rate of 7.90%. The cryptocurrency was trading at $58.16 with a total market cap of $3.407 billion and 24-hour market volume of $336.118 million. A major share of Litecoin’s trade volume was held by the Chinese cryptocurrency exchange called DOBI trade which enjoyed a 15.32% of the total volume.
Litecoin 7-day chart | Source: CoinMarketCap
Litecoin [LTC] was also in the news recently when it was announced that the cryptocurrency was among three coins that can be purchased on Brazilian investment funds. This effectively means that investment firms can now buy a share in foreign funds, mostly in cryptocurrency portfolios, including Bitcoin [BTC], Ethereum [ETH] and Litecoin [LTC].
The post Bitcoin Cash [BCH], Stellar Lumens [XLM] and Litecoin [LTC] bleeds red; bear reign continues appeared first on AMBCrypto.
Source: AMBcrypto
Original Post: Bitcoin Cash [BCH], Stellar Lumens [XLM] and Litecoin [LTC] bleeds red; bear reign continues
