The cryptocurrency market has held its position from last week quite well hovering around the $170 Billion market capitalization range, hitting a low of $162 billion on Tuesday before bouncing back to its current levels. The major dip that Bitcoin (-1.21% week-on-week) saw around Tuesday could be attributed to the Bitcoin Gold (BTG) hard fork which took effect on October 25, 2017 as people started dumping their Bitcoin for alt coins after receiving free BTG. But Bitcoin recovered rather quickly from the dip and was priced at $5819 at the time of publishing this article.
Among the list of top ten cryptocurrencies, Bitcoin Cash (+ 33% week-on-week) has seen explosive growth this week in part due to people looking for alternatives to Bitcoin in times when there is uncertainty in the markets. Ethereum (+ 1.5% week-on-week), Litecoin (– 3.5% week-on-week), Dash (+ 0.2% week-on-week), Neo (– 3.3% week-on-week) and Monero (– 0.57% week-on-week) have seen sideways movements this week with no major surges or dips. IOTA (+ 3.5% week-on-week) is still not in the top ten coins but has made some recovery in price and is getting closer to Monero for the 10th spot.
Since Bitcoin has been through numerous hard forks in the last couple months and only the Segwit2x fork remains, we can expect to see the same pattern in price movements emerge where the price of Bitcoin will keep rising until November 14, 2017 and then the growth will trickle into altcoins after the hard fork has taken effect. Hence it would be advisable to keep close watch on the markets for the next 15 days in anticipation for the last major hard work which will finally end the debate over the optimum scaling solution which has led to infighting in Bitcoin communities for over 2 years.
List of Top Ten Cryptocurrencies as on October 29, 2017
KryptoMoney.com publishes a list of top ten cryptocurrencies every Sunday. This is our 25th weekly report and the previous one was published on 22 October 2017.
|S.NO||Name of Cryptocurrency||Market Capitalization*||Price (IN US$)||Supply (in circulation)|
|4||Bitcoin Cash||$7,433,081,260||$443.77||16,749,738 BCH|
*Market Capitalization is calculated by multiplying the price with the supply of cryptocurrencies in circulation.
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