Tuesday, August 28 most of the cryptocurrency markets have recovered momentarily when Bitcoin (BTC) price exceeds $7000 and almost all top hundred cryptocurrencies except for 3 altcoins grow on this day too. According to Coin360 data, the most impressive ranges have reached from 4.5 to up to 20%.
Cointelegraph’s Bitcoin price index shows that the price of Bitcoin (BTC) has reached $7016 and that is 4.2%.
Fortunately, after a low price of the most popular coin on August 22 caused by tough measures against cryptocurrencies in China and a number of disapproval orders for Bitcoin ETFs made by SEC, the currency has gradually recovered.
Only within the latter week BitCoin has gained 4.1% growth, while a monthly gain has reached 9.1%.
The press time price of Ethereum (ETH) is about $289 and it is 3.4% growth per day.
Despite the fact that this crypto has not beaten $300 price point (and it happened last August 20), August 28 was the first day after a rather long break when it jumped up in price after the average weekly range between $270-280. Ethereum has grown for 3.4% during the week, though monthly losses resulted in remaining at 37.8%.
If to analyze other top cryptos, Cardano (ADA) has grown by 9% and is trading at $0.10, both Litecoin (LTC) and Ripple (XRP) have seen 7.64% and 7.3% growth correspondingly and cost $61.88 and $0.35 at the moment.
The highest increase in the total cost was achieved by IOTA, which has soared up to 19.4% within a single day and its current price is $0.71. Such a skyrocketing increase in price within a couple of days is a result of the news that Fujitsu, an ICT conglomerate located in Japan announces the release of PoC based on IOTA to control every audit trail process during the dproduction.
If to consider the list of top 20 cryptocurrencies offered by CoinMarketCap, the increase of TRON (TRX) is 14.5% and its current price is $0.03, NEO has grown by 17.77% and its trading price is $21.18, while DASH that takes the 13th place in the list has speeded up all coins and grown by 27% within one day to cost $186.54.
The current crypto market capitalization has achieved $230.55 billion with the increase of about $15 billion since Monday, August 27.
Despite the fact that the market of cryptos is soaring and Bitcoin does not fall below $7,000, according to the latest data by CFTC there will be a decline in the nearest future of non-commercial Bitcoin contracts.
A recent COT report indicates a negative total tally and it is a proof of the net shortness of the market. However, fresh figure of -1266 shows a better turnaround in comparison with the previous figure of -1926 written down this summer.
This week has seen one more important event, as 2 global audit firms such as Deloitte and PwC have shown interest in Blockchain. Their recent reports indicate that a huge number of employees do not lose trust in the great potential of technology.
A representative of the banking system, JP Morgan CIO Lori Beer supposes that most of the modern technology will be replaced by Blockchain in a couple of years.The evidence of this fact is a prolonged partnership of Deutsche Boerse (DB) and HQLAx, a liquidity provider based on Blockchain, where a joint company from Germany invested a million Euro to be a minority shareholder.
Moreover, the government of South Korea made an announcement to start a blockchain hackathon sponsors by state with the purpose to attract the technology’s inroads to either public or private sector.