As per usual, we are here to bring you a roundup of the action that has been happening with some of the more well-known cryptocurrencies in the markets this past seven days.
In actual fact, it has been a fairly quiet week for many – especially when compared to the last few. This week we will look at their performance between Saturday the 18th of August at 00.01am and Friday the 24th of August at 23.59pm.
We are struggling to think of two consecutive weeks where Bitcoin has had a relatively stable time with the price of the cryptocurrency barely moving. In our last report, we explained how Bitcoin had seen an increase in its value of 1% which is incredibly small for such a volatile cryptocurrency market and this week has been very similar.
It started off with a value of $6,498.79 when we left it last time and in the week following it has gained around $43 in value. This works out as an increase of 0.65% and leaves the worlds most well-known cryptocurrency valued at $6,542.22
It really does seem like an awful time to be holding onto Ethereum right now unless you know something the rest of us don’t. After suffering combined losses worth 40% of its value in just three weeks, many would have been hoping for some kind of reversal, or at the very least, a halt in the decline in its value.
Unfortunately, there has been no such luck and the only positive that can be taken from the last seven days is that at least the rate of its losses has slowed down. The previous three weeks saw ETH lose 10+ percent each time but this time at least, those losses are around 8.5%. This is by no means good news though as Ethereum is now valued at $272.31, down from the $298.25 it was valued at last week at our cutoff point.
Litecoin is yet another cryptocurrency that has been struggling quite badly in the past few weeks as it has lost a combined chunk of its value of 31%. That figure has now gone up to 36% after another poor seven days has seen it drop 5% of its value.
Most of the losses incurred by Litecoin happened on the Tuesday of the week just gone and despite a slight revival, those losses were never able to be recouped in time for the cutoff time in this crypto report. Those losses mean that LTC has gone from a value of $58.81 to that of $55.99 in the space of a week.
This report has certainly been a bit of a mixed bag so far with Bitcoin seemingly holding its value while two other cryptocurrencies have lost a fair chunk of theirs. Monero falls into the former category as it has managed to see a slight but welcome increase in value.
This might not be much when compared to its losses of 10% last time around but at least some of it has been gained back on the markets. XMR now has a value of $89.62 with it having climbed up from $87.95.
Things just seem to be going from bad to worse for NEO and its investors. Yet another loss has been shown on the cryptocurrency market for NEO and this time it is 7%. Add that to the staggering 52% of value it has lost in the past three weeks and you really have to wonder what has gone on with this crypto.
If you are holding onto this cryptocurrency for the long term you might not really be interested to learn that it is down from $18.51 in value to that of $17.21. Could it bounce back and shoot up into the green next week? We can only hope.
While a gain of 2% is nothing in the world of cryptocurrencies, it will still be seen as a very welcome one for those of you that have Ripple in your portfolios. The last two weeks have seen it lose a combined value of 30% and you only just have to look at NEO to see how these losses can keep coming.
That small increase now means that XRP has a value of $0.3160 compared to that of the $0.3107 last time around.
Yet another week in cryptoland has come to an end and while there have been a few sizable losses this week there has not been any on the scale of what we witnessed in our last report. That being said, there has hardly been very many large increases either with a few coins gaining small amounts or practically staying as they were from last time.
Check back with us next week to see if there are any big majors shifts in value with six of the leading cryptocurrencies on the market.
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