• Latest
Crypto Markets See Major Correction, BTC Below $7,350 as US Stock Futures Trade Lower

Crypto Markets See Major Correction, BTC Below $7,350 as US Stock Futures Trade Lower

May 17, 2019
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Litecoin

Crypto Markets See Major Correction, BTC Below $7,350 as US Stock Futures Trade Lower

coinnewsdaily by coinnewsdaily
May 17, 2019
in Litecoin
0
Crypto Markets See Major Correction, BTC Below $7,350 as US Stock Futures Trade Lower
191
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Bitcoin Will Overtake Gold’s MarketCap in 9 years, Says Bobby Lee |

Sell or hodl? How to prepare for the end of the bull run, Part 2

April 10, 2022
How to prepare for the end of the bull run, Part 1: Timing

How to prepare for the end of the bull run, Part 1: Timing

April 3, 2022

Friday, May 17 —  after a week of deep green and bullish price performance, crypto markets today are seeing a major correction, with bitcoin (BTC) dropping below the $7,350 mark, as Coin360 data shows.

Market visualization courtesy of Coin360

Bitcoin has taken a steep price hit, dropping 8% on the day to trade at $7,346 to press time. The top coin had brushed $8,300 yesterday, May 16 — a bullish price point not seen since August 2018.

Despite today’s major correction, bitcoin retains a strong gain of 16.61% on the week.

Bitcoin 7-day price chart

Bitcoin 7-day price chart. Source: CoinMarketCap

Largest altcoin by market cap ether (ETH) has seen a slightly milder drop, and is down 6.3% on the day to press time to trade at $240. The dip follows an intra-week high of above $270 yesterday. Nonetheless, the altcoin retains a 38.7% gain on its 7-day chart.

Ether 7-day price chart

Ether 7-day price chart. Source: CoinMarketCap

XRP has taken a double digit percentage tumble, dropping 10.9% on the day to trade at $0.38 by press time. As in the wider market, XRP saw an intra-week high yesterday. Even with today’s substantial correction, XRP nonetheless holds a strong 27.3% gain on the week.

XRP 7-day price chart

XRP 7-day price chart. Source: CoinMarketCap

Among the top ten cryptocurrencies, all are red, except for stablecoin tether (USDT). The market-wide price downturn includes an 11.8% loss on the day for stellar (XLM), an 11% loss for cardano (ADA) and a 10.2% loss for bitcoin cash (BCH).

Eos and litecoin (LTC) are down 7.9% and 8.6% on the day respectively, while native exchange token binance coin (BNB) is showing relative resilience — down 2.35% on the day — notwithstanding the recent high-profile hack of the exchange.

Widening out to the top twenty, all coins are again in the red, except for 17th largest altcoin cosmos (ATOM), which has seen a non-correlated 7.3% price hike. Red market action spans an 11.2% loss for tron (TRX), a 10.6% loss for dash (DASH) and a 12.3% loss for bitcoin SV (BSV).

Tezos (XTZ) has seen the mildest price hit, losing just 1.15% on the day to trade at $1.66 to press time.

The total market capitalization of all cryptocurrencies is currently around $230.15 billion — down from over $262 billion on May 16.

Total market capitalization of all cryptocurrencies

Total market capitalization of all cryptocurrencies. Source: CoinMarketCap

In response on today’s major market correction, eToro analyst Mati Greenspan has commented that:

“IF the pullback does reverse now and we continue past the recent highs, there is virtually no major levels of resistance until $20,000.”

In crypto regulatory news, leading cryptocurrency exchange Poloniex yesterday announced it will stop offering nine coins to United States-based customers due to uncertain regulations, citing a lack of clarity over their interaction with federal securities laws.

In regard to the ongoing legal action against Bitfinex cryptocurrency exchange, the New York Supreme Court yesterday accepted modifications to the New York Attorney General’s injunction order, which affects both Bitfinex and affiliated stablecoin operator Tether.

In traditional markets, United States stock index futures opened lower this morning, as a mark of ongoing trade tensions between the US and China, as CNBC reports. As of 3:00 a.m. ET, Dow futures reportedly fell 62 points, CNBC notes, with futures on the S&P 500 Index and Nasdaq also slightly down.



Credit: Source link

Tags: Litecoin
Share76Tweet48
Previous Post

Ava Labs Exits Stealth, Launches Blockchain Testnet Based on ‘Avalanche’ Protocol

Next Post

Bahamas Securities Regulator Proposes Rules for Token Sales

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

Bitcoin Will Overtake Gold’s MarketCap in 9 years, Says Bobby Lee |
Bitcoin

Sell or hodl? How to prepare for the end of the bull run, Part 2

April 10, 2022
How to prepare for the end of the bull run, Part 1: Timing
Bitcoin

How to prepare for the end of the bull run, Part 1: Timing

April 3, 2022
Bull or bear market, creators are diving headfirst into crypto
Alt Coin

Bull or bear market, creators are diving headfirst into crypto

April 2, 2022
crypto listing and delisting announcements: week 9
Alt Coin

Crypto Listing and Delisting Announcements: Week 9

February 28, 2022
unstable markets how to invest in cryptocurrency
Alt Coin

How to invest in cryptocurrency when the market is uncertain, explained

December 21, 2021
be your own banker secrets
Alt Coin

Bitcoin and Crypto Wallet Hygiene 101

November 22, 2021
Load More
Next Post
Bahamas Securities Regulator Proposes Rules for Token Sales

Bahamas Securities Regulator Proposes Rules for Token Sales

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$23,702.002.06%
  • ethereumEthereum(ETH)$1,631.012.21%
  • tetherTether(USDT)$1.000.03%
  • binancecoinBNB(BNB)$314.381.91%
  • rippleXRP(XRP)$0.4128960.23%
  • cardanoCardano(ADA)$0.3912601.39%
  • dogecoinDogecoin(DOGE)$0.0888770.01%
  • matic-networkPolygon(MATIC)$1.150.74%
  • okbOKB(OKB)$39.19-0.82%
  • solanaSolana(SOL)$25.505.70%
  • polkadotPolkadot(DOT)$6.520.42%
  • shiba-inuShiba Inu(SHIB)$0.0000121.01%
  • litecoinLitecoin(LTC)$94.90-0.09%
  • tronTRON(TRX)$0.063440-0.11%
  • daiDai(DAI)$1.000.00%
  • cosmosCosmos Hub(ATOM)$13.672.72%
  • chainlinkChainlink(LINK)$7.27-0.95%
  • moneroMonero(XMR)$186.111.17%
  • leo-tokenLEO Token(LEO)$3.60-7.76%
  • ethereum-classicEthereum Classic(ETC)$22.873.03%
  • bitcoin-cashBitcoin Cash(BCH)$135.430.13%
  • stellarStellar(XLM)$0.0938170.99%
  • crypto-com-chainCronos(CRO)$0.0818840.37%
  • filecoinFilecoin(FIL)$5.371.01%
  • algorandAlgorand(ALGO)$0.256545-0.85%
  • vechainVeChain(VET)$0.024210-1.51%
  • internet-computerInternet Computer(ICP)$6.100.10%
  • aaveAave(AAVE)$85.96-0.13%
  • eosEOS(EOS)$1.110.70%
  • elrond-erd-2MultiversX(EGLD)$44.870.38%
  • theta-tokenTheta Network(THETA)$1.09-0.46%
  • tezosTezos(XTZ)$1.15-1.58%
  • paxos-standardPax Dollar(USDP)$0.99-0.76%
  • bitcoin-cash-svBitcoin SV(BSV)$43.70-0.47%
  • huobi-tokenHuobi(HT)$5.13-0.02%
  • havvenSynthetix Network(SNX)$2.45-0.86%
  • pancakeswap-tokenPancakeSwap(CAKE)$4.102.34%
  • iotaIOTA(MIOTA)$0.2393000.91%
  • dashDash(DASH)$57.701.29%
  • makerMaker(MKR)$673.611.25%
  • zcashZcash(ZEC)$46.09-2.79%
  • neoNEO(NEO)$8.320.14%
  • zilliqaZilliqa(ZIL)$0.029021-0.97%
  • basic-attention-tokenBasic Attention(BAT)$0.267371-0.91%
  • compound-governance-tokenCompound(COMP)$56.01-0.50%
  • nemNEM(XEM)$0.0397520.19%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • kusamaKusama(KSM)$36.22-0.70%
  • bitcoin-goldBitcoin Gold(BTG)$17.600.16%
  • qtumQtum(QTUM)$2.793.99%
  • wavesWaves(WAVES)$2.68-1.76%
  • sushiSushi(SUSHI)$1.321.29%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • yearn-financeyearn.finance(YFI)$7,726.402.17%
  • golemGolem(GLM)$0.245858-0.84%
  • omisegoOMG Network(OMG)$1.49-0.53%
  • ontologyOntology(ONT)$0.2220412.54%
  • digibyteDigiByte(DGB)$0.0109091.99%
  • umaUMA(UMA)$2.111.14%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%