Altcoins have been bleeding out all morning following Bitcoins lead. In fact, the fall in prices started yesterday. While almost every major coin fell against the USD, some coins fell lower than others. For example, ETH, EOS, and TRX fell by more than 6% against the USD within one hour. The three native tokens of smart contract platforms have only been able to recover slightly since the bears gained ground.
Price Analysis for ETH, EOS, And TRX
The second largest cryptocurrency per market capitalization, ETH, has fallen by 6.46% within a 24 hour period. Within a seven day period, ETH is down by 9.32%. ETH is down by 1.6% within the hour. At the time of publication, the cryptocurrency was trading at $127.26. This shows that it is down by 5.73% against the USD and down by 3.26% against BTC. The trading volume over a 24 hour period is $3,976,081,577 and the market capitalization is $13,377,839,784.
Ethereum (ETH) Price Today – BTC / USD
Cryptocurrency exchange EXX is reporting the highest ETH trading volume with about $174 million of ETH to BTC trading pairs. The second largest volume is coming from BW which is $152 in ETH to USDT. In third place is LBank which is recording $131 million in ABT to ETH pairs.
Within the past hour, EOS is down by 2.4%. Within the past week, the token is down by 9.84% while it is down by 9.62% within the last 24 hours. At the time of writing, EOS was trading at $3.25. This shows that it is down by 9.12% against the USD and down by 6.84% against BTC. The trading volume is $1,444,529,479 and the market capitalization is $2,943,264,180.
EOS Price Today – EOS / USD
OKEx recorded the highest EOS trading volume at $135 million with the EOS/USDT pair. Bibox is in second place at $100 million for EOS to ETH trading pairs. BW is in third place with $82 million in EOS to USDT pair.
According to the price analysis of Namrata Shukla from AMBCrypto, Tron is down by 8.72% within a 24 hour period. Over the last seven days, Tron TRX is down by 11.92% while it is down by 2.29% within the last hour. At the time of writing, the token was trading at $0.021490. This shows that it is down by 6.85% against the USD and down by 4.34% against Bitcoin. The trading volume over a 24 hour period $154,597,203 and the market capitalization is $1,432,994,350.
TRON (TRX) Price Today – TRX / USD
The TRX to USDT pair on OKEx accounted for most of the trading volume at $14.78 million. HitBTC is in second place while BitForex is in third place with a volume of about $13 million in TRX to USDT pairs.
It’s a bloody Monday indeed and no recovery is in sight. However, some investors have suggested that Bitcoin may be preparing for a price rebound. Hopefully, this will reflect on the general market.
What do you think is responsible for this sudden reversal in price and how long do you think it will last? Share your thoughts in the comment section.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.