Bitcoin News

Bitcoin Worth Over $8,400 as Most Top Altcoins See Losses

Friday, June 14 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as bitcoin (BTC) crossed the $8,400 mark again after breaching it earlier today.

Market visualization courtesy of Coin360

Market visualization courtesy of Coin360

Bitcoin is currently up over 2.8% on the day, trading around $8,420 at press time, according to Coin360. Looking at its weekly chart, the coin is up about 7.35%.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: Coin360

American digital asset manager Grayscale claimed in recently published research that bitcoin vastly outperformed traditional wealth preservation assets during the United StatesChina trade war.

Ether (ETH) is holding onto its position as the largest altcoin by market cap, which currently stands at just under $27.3 billion. The second-largest altcoin, Ripple’s XRP, has a market cap of $16.7 billion at press time.

Coin360 data shows that ETH has seen its value decrease by about 1.2% over the last 24 hours. At press time, ETH is trading around $257. On the week, the coin has also gained over 3.5% of value.

Ether 7-day price chart

Ether 7-day price chart. Source: Coin360

XRP is down by just over 1% over the last 24 hours and is currently trading at around $0.396. On the week, the coin is down about 4.19%.

XRP 7-day price chart

XRP 7-day price chart. Source: Coin360

Among the top 20 cryptocurrencies, the one reporting the most notable losses is binance coin (BNB), which is down over 11%.

At press time, the total market capitalization of all cryptocurrencies is $266 billion, about 3.87% lower than the value it reported a week ago.

As Cointelegraph reported earlier today, major crypto exchange Binance announced that it has updated its terms of use, which notably includes a restriction of services to United States-based individual and corporate traders.

In traditional markets, the United States stock market is seeing slight losses so far today, with the S&P 500 down 0.33% and the Nasdaq down 0.61% at press time. The CBOE Volatility Index (VIX), on the other hand, has gained 0.44% on the day at press time.

Major oil futures and indexes are seeing discreet gains today, with WTI Crude up 0.96%, Brent Crude up 1.37% and Mars US up 2.03% at press time. The OPEC Basket is up 0.82% and the Canadian Crude Index has seen its value increase by 0.7% in the 24 hours by press time, according to OilPrice.

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