[2018-03-28] Markets Update: Cryptocurrency Prices Begin to Sink Once Again

[jamie.redman1]

Cryptocurrency prices have dropped considerably over the past 48 hours since our last markets update. Currently, the entire digital asset ecosystem has lost more than $32 billion since that time, and BTC/USD values have once again dipped under the $8K range.

Traders are seeing quite a bit of bearish sentiment within cryptocurrency markets as more than 60 percent of the top digital assets are seeing losses. BTC/USD markets are hovering just above the $7,800 region after losing momentum just above the $8K zone during today’s early morning trading sessions. BTC global trade volume is only a few million lower than our last analysis, as the past 24-hours has seen about $5.2Bn in trades. The top five exchanges worldwide trading the most BTC today include Bitfinex, Okex, Binance, Bitflyer, and Huobi. The Japanese yen is once again dominating the fiat pack traded with BTC as the yen has commanded over 54 percent of global trade volume. The rest of the currencies traded behind the yen include the USD (22%), tether (13.9%), the euro (3.5%) and the Korean won (2.9%). There’s around $14.4Bn worth of global trade volume among all 1,500+ cryptocurrencies during the past 24-hour trading sessions.

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