Ethereum (ETH) and Other Altcoins Struggle As Bitcoin Widens Dominance Gap

Ethereum’s native token ETH is languishing below the $200 mark after it—and other top altcoins—failed to follow bitcoins lead it its latest price recovery effort. Ether (ETH)

Bitcoin Price Analysis – BTC Price Today

#NamePrice24H %
1
bitcoin
Bitcoin(BTC)
$8,738.24
-0.30%

As Smartereum reported, Bitcoin (BTC) price movements made a sharp move upwards in a few minutes earlier today. Though trading around $10,340 at the time of writing, BTC price did hit over $10,500 from $10,100 in a matter of minutes. Bitcoin is currently in the green, posting a 1.5% gain from yesterday but is yet to shed a 3% loss on its week-on-week charts. The bitcoin dominance has also risen to 69% of the cryptocurrency market—formerly 70% at the BTC’s peak earlier today.

Ethereum, Ripple (XRP), Litecoin (LTC), and other top altcoins have not kept up the pace.

Ethereum Price Analysis Today – ETH to USD – ETH Price News

At the time of writing, the second-rated cryptocurrency market cap is trading at $189 to the U.S. dollar. After an impressive spell above the significant $200 mark that lasted months, ETH price succumbed in mid-August. ETH has failed to find its footing after that crypto market downturn as analysts fear the worst.

#NamePrice24H %
2
ethereum
Ethereum(ETH)
$185.68
-0.22%

Smartereum reported last week that analysts were making doomsday ethereum price predictions 2019 based on some factors. Ethereum co-founder Vitalik Buterin had at the time suggested that the Ethereum blockchain was “almost full”. He was referring to the lingering problem of blockchain scalability which he says is not endemic to the ethereum blockchain.

Ripple (XRP) Price Today / USD

#NamePrice24H %
3
ripple
XRP(XRP)
$0.272
-0.72%

Ripple (XRP) is another altcoin on the losing side today albeit a less than 1% loss in the last 24 hours. According to XRP price data from CoinmarketCap, XRP is trading at 0.27 to the USD with a total market cap of just under $11.6 billion. XRP which saw trading activity north of $1 billion is down by about 5% in the last 7 days.

A rare positive piece of news is coming from live XRP price charts and will interest digital asset investors in the cryptocurrency. Originally reported by cryptocurrency news outlet AmbCrypto, XRP may be on its way to new price gains as technical charts suggest a recovery in coming days. Citing a bullish trend in the Moving Average Convergence Divergence (MACD), the outlet suggested a BTC price uptrend in the short term at least. It also predicted reduced volatility and deficiency for capital flow in the market based on converging Bollinger Bands and Chaikin Money Flow line respectively.

Bitcoin Cash (BCH), Litecoin (LTC), EOS Price Analysis – Altcoin Price News

NamePrice
bitcoin
Bitcoin
$8,738.24-0.30%
bitcoin-cash
Bitcoin Cash
$286.78-0.13%

Bitcoin Cash (BCH) price is relatively unchanged from its value the same time yesterday. Trading at $308.7 at the time of writing, BCH is trailing its last week price by 4.3%.

NamePrice
litecoin
Litecoin
$61.02-1.31%

Litecoin (LTC) is trading at $73.86 to the USD at the time of filing this report. Not very long ago the cryptocurrency underwent a halving which was expected to boost price as supply reduced. LTC continues to struggle like other altcoins as it brought home a week-on-week loss of 4.5% at the start of the new week.

NamePrice
eos
EOS
$3.45-0.68%

EOS may have been listed on popular crypto custody wallet Bitgo but this has done little to alter its price in relation to other altcoins today. EOS is trading at $3.61 which is down by 1.3% in the last 24 hours and 3.3% in the last 7 days.

 

Information from Coinmarketcap.com and ambcrypto.com were used in this report.

Riccardo Lopp is a writer specializing in Crypto, ethereum and whole blockchain ecosystem. His background is in economics and statistics.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.