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Bitcoin Dips Below $8K Again as Top Altcoins See Mild Losses
Sunday, May 26 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as bitcoin (BTC) falls under the $8,000 mark again.
Market visualization courtesy of Coin360
Bitcoin is down less than one percent on the day, trading at $7,990 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin has seen almost no net change, up about a fraction of a percent.
Bitcoin 7-day price chart. Source: CoinMarketCap
Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $26.5 billion. The second-largest altcoin, XRP, has a market cap of $16.2 billion at press time.
CoinMarketCap data shows that ETH is down a little over half a percent over the last 24 hours. At press time, ETH is trading around $250. On the week, the coin has also seen its value decrease by about two percent.
Ether 7-day price chart. Source: CoinMarketCap
Ripple’s XRP is just under one percent down over the last 24 hours and is currently trading at around $0.384. On the week, the coin is down a more notable 5%.
XRP 7-day price chart. Source: CoinMarketCap
Among the top 20 cryptocurrencies, the one reporting most notable price action is bitcoin SV (BSV), which is over 17% up at press time.
Earlier this week news broke that BSV proponent Craig Wright has filed United States copyright registrations for the bitcoin white paper authored by Satoshi Nakamoto.
At press time, the total market capitalization of all cryptocurrencies is $249.1 billion, about the same value it reported a week ago.
Total market capitalization 7-day chart. Source: CoinMarketCap
As Cointelegraph reported earlier today, following its hard fork on May 15, bitcoin cash (BCH) appears to have experienced a two-block chain reorganization resulting in a 3,392 BCH (about $1.35 million at press time) double spend.