Bitcoin Falls Under $9,600 as Most Altcoins See Major Losses
Most of the top 20 cryptocurrencies are reporting losses on the day by press time, as Bitcoin fell below the $9,600 mark.
Sunday, July 28 — Most of the top 20 cryptocurrencies are reporting losses on the day by press time, at the same time that Bitcoin (BTC) fell below the $9,600 mark.
Market visualization courtesy of Coin360
Bitcoin is currently down by 5.2% on the day, trading at $9,538 at press time, according to Coin360. Looking at its weekly chart, the coin is down by 12.68%.
Bitcoin 7-day price chart. Source: Coin360
The Bank of China, one of the four biggest state-owned commercial banks in the country, recently released an infographic on its website illustrating what Bitcoin (BTC) is, how it works and why it’s valuable.
Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at $22.3 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $13 billion at press time.
Coin360 data shows that ETH has seen a loss in value of roughly 5% over the last 24 hours. At press time, ETH is trading at around $209. On the week, the coin’s price has gone down by about 9%.
Ether 7-day price chart. Source: Coin360
As Cointelegraph reported yesterday, institutional cryptocurrency exchange San Francisco Open Exchange suggested that Ether may not be an altcoin anymore.
XRP is down by nearly 2.95% over the last 24 hours and is currently trading at around $0.310. On the week, the coin is down about 6.7%.
XRP 7-day price chart. Source: Coin360
Among the top-20 cryptocurrencies the only one reporting gains is Unus Sed Leo (LEO), which is up 0.56% at press time.
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