Crypto Markets See Slight Gains Since Yesterday’s Upswing, Despite US Indictment FUD

Published at: July 14, 2018

July 14: crypto markets are holding gains from yesterday’s mild upswing, with all top ten cryptocurrencies seeing slight growth over the past 24 hours, according to data from CoinMarketCap and Coin360.

Market visualization from Coin360

Bitcoin (BTC) is up just over one percent over the past 24 hours, trading at $6,274 at press time. The leading cryptocurrency has been mostly trading sideways today, holding gains from yesterday’s modest rebound.

Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index

Top altcoin Ethereum (ETH) is trading at about $435, up almost one percent on the day to press time. The top altcoin by market cap is still down over 10 percent over the past week.

Ethereum price chart. Source: Cointelegraph Ethereum Price Index

Total market capitalization of all cryptocurrencies is hovering near $250 billion, around yesterday’s levels, with an intraday low of $246 billion. Total market cap however has lost almost $30 bln on the week.

Total market capitalization chart. Source: CoinMarketCap

While most top ten cryptocurrencies have seen modest growth of around 1-2 percent over the past 24 hours, some coins have seen bigger gains.

Stellar (XLM), the seventh largest coin by market cap, is currently up almost 5 percent, trading at $0.21 at press time.

Cardano (ADA), the 8th largest coin, is the only one of the top ten coins in the red, down just a slight 0.01 percent over the past 24 hours, trading at $0.138 at press time.

On July 10, crypto markets took dip, reversing an overall upswing since late June that saw Bitcoin reach almost $6,800 this same week, July 9. Since July 10, markets have been following a further downward trend until yesterday, July 13, when the markets took a turn to make a modest comeback.  

Though slight, the general growth of crypto markets comes despite the fact that yesterday, July 13,  U.S. authorities indicted twelve Russian officials for allegedly using Bitcoin and other cryptocurrencies to fund “interference” in the 2016 U.S. presidential elections.

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