Monday, May 28: crypto markets are experiencing a significant decline with all top ten cryptocurrencies listed on Coinmarketcap[1] (CMC) in the red. Some altcoins[2] such as Cardano[3] (ADA) and Bitcoin Cash[4] (BCH) are seeing losses up to around 30 percent over the last 7 days.
Market visualization from Coin360[5]
With a decline of around 35 percent over the last 30 days, Bitcoin[6] (BTC) has hit a monthly low of $7,259[7] at press time. The cryptocurrency continues its downward trend started[8] in early May after the price almost touched[9] the $10,000 mark on May 6.
Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index[10]
Ethereum[11] (ETH) is down 20 percent over the past week, trading at $536[12] at press time.
Ethereum price chart. Source: Cointelegraph Ethereum Price Index[13]
Total market cap[14] has lost up to $85 bln over the last 30 days, currently at $313 bln.
Total market capitalization chart. Source: Coinmarketcap[15]
Of the top 10 coins, Cardano[16] has seen the largest loss over the past 7 days, currently trading at $0.18, according to Coinmarketcap[17].
BCH has lost 26 percent over the past week and is down 7 percent in 24 hours to press time, currently trading at $934[18].
While the crypto markets overall are seeing a downward trend, some of the fundamental Bitcoin indicators such as the hashrate[19] and the number[20] of the Segregated Witness (SegWit[21]) transactions are growing steadily, indicating the continued development of the network.
Last recorded on May 27,
