Yesterday’s recovery has been tempered by a small reversal, with the vast majority of coins in the red – albeit not by mammoth amounts. BTC is at 7360 (-2.3%) and ETH is at 563 (-2.2%), with total market cap down to 323b. There appears to be a sort of tenuous temporary equilibrium.
Altcoins have largely fared poorly, although not to a catastrophic degree. A handful have managed positive 24h returns, including YouTube co-founder Steve Chen backed Theta Token (THETA + 32.2%), Golem (GNT +14.1%) and All Sports (SOC +7.2%). THETA and GNT have both experienced tremendous growth in the last week.
It’s been the coins towards the tail end of the top 100 which have suffered the largest losses. MyBit Token (MYB -18.5%), Mixin (XIN -11.9%) and Centrality (CENNZ -11.6%) have been the altcoins hit hardest.
Xi Jinping, the President of China, has hailed blockchain as a “breakthrough” technology. This comes despite the country’s overall hostility to crypto thus far, indicating that either China will soften their tone on crypto or they are positive on the non-crypto aspects of blockchain only. The latter seems more likely at this point in time.
PayFair has added support for Indian Rupee pairs, including for ETH, EOS, TRX etc. Potentially big development as the Indian market has been very closed off to crypto thus far and this is an avenue for Indian retail investors to buy into crypto. PayFair is a P2P trading network with low volume at the moment though, so this will be potentially good in future.
TRON and OysterProtocol Mainnets have both gone online.