After the tight trading range over the last few weeks, many people joked about cryptocurrency prices remaining stable indefinitely. Of course, most crypto enthusiasts know better and on Monday, after a dull trading weekend, the majority of digital asset markets saw price declines across the board.
Bitcoin (BTC) prices saw a low of $6,208 and bitcoin cash spot prices dipped to $414. Even though markets are now in the red, trading volumes have increased immensely since our last report. At the time, $8.6 billion worth of 24-hour cryptocurrency global trade volume was recorded but today the worldwide trade volume touched around $12 billion.
Bitcoin (BTC) is currently trading for $6,344 per coin and has seen a loss of around 2% over the last 24 hours. Following behind is ethereum (ETH), as markets have seen a 3.5% loss during the morning trading sessions. One ETH is being swapped for $197 at the time of publication. The third largest market capitalization held by ripple (XRP) lost 3.5% and each token is trading for $0.44.
The morning dip has erased 4.7% off the overall eos (EOS) capitalization and each token is trading for $5.14. On Oct. 29, at 12:15 p.m., the market valuation of all 2,000+ cryptocurrencies is around $206 billion. Just before the dip, dwindling cryptocurrency trade volumes started to reverse and now many traders are scrambling to find new positions.