The cryptocurrency market saw some bright blue skies yesterday, as most coins were seeing gains. However, that only lasted briefly because this morning most of the market is back in the red. The G20 summit helped to propel crypto investors spirits as the countries came to the decision that immediate regulations on cryptocurrencies were unnecessary. Added to that, news broke that Twitter and Square’s CEO Jack Dorsey, foresee’s Bitcoin becoming the world’s leading single currency.
The good news wasn’t enough though to hold up the market, as more negative news from Japan has surfaced; the country has come down hard on the world’s leading crypto exchange Binance. Also, rumors are flying that child pornography was found on Bitcoin’s blockchain. Are these two stories the reason the market’s in the red? Maybe.
Still, most of the coins in the cryptomarket are in the beginning stages of their project development and their price valuation isn’t a true representation of the value of the product. While the coins may be down in price, I urge you to seriously study each product’s whitepaper, roadmap, and do research on the teams behind these coins.
The panic selling within the crypto community is becoming a bit deflating. Still, correction of any market is inevitable but the past 90 days have been rough for the crypto market.
Here are some top coins taking a hit today, for all you day traders out there.
Currently, ADA is trading at $0.197 a coin, down -10.14%, in 24 hours.
At press time, TRX is trading at $0.0358 a coin, down -6.41%. Tron’s test net is set to launch in 8 days.
Presently, XLM is trading at $0.236 a coin, down -9.42%, in 24 hours.
At the time of writing, NEO is trading at $69.00 a coin, down -7.44%.
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Featured Image: Hive