Market Analysis

ETH falls down under the level of 200 USD

ETH falls down under the level of 200 USD
Sep 18, 2018 by Rico Wise

The world’s second dominant digital currency, Ethereum, has experienced a reasonably ascending movement subsequent to its drop to the 175 USD area on previous week, highlighted by hitting 225 USD at some point during the weekend, and, in spite of some losses endured in the morning, held itself at 200 USD mark upon entering yesterday’s afternoon.

However, it took only a few hours for the situation to worsen, when the BitMEX cryptotrading network registered a selling volume surge, which brought Ethereum back down under the 200 USD level. ETH/USD trading pair has ultimately reached 192 USD by yesterday’s evening on BitMEX, further recovering slightly to the price of 196 USD per ETH token.

Ethereum is currently 11% down, responsible for reduction of its own market capitalization to a little bit above 20 billion US dollars.

Nevertheless, Ether was not the only alternative currency with large capitalization to record a substantial drop yesterday, with EOS, the #5 digital currency by capitalization, also dropping by 11%, whereas BCH, LTC, ADA, IOTA, TRX, NEO, and ETC have all made a pull-back at approximately 8%.

Bitcoin has shown better dynamics, dropping only by 4% and still accounting for a little over 56% of the market share.

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BitMEX is a Peer-to-Peer Trading Platform that offers leveraged contracts that are bought and sold in Bitcoin
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