The cryptocurrency market seems to have crashed with most of the major coins seeing massive falls from their highest points. Popular cryptocurrencies like Bitcoin [BTC], Bitcoin Cash [BCH], Stellar Lumens [XLM] and Litecoin [LTC] have all witnessed the wrath of the bear over the past seven days.
At the time of writing, Bitcoin Cash [BCH] saw a 7-day drop i.e. approx 7.47% with a total market cap of $8.951 billion. The cryptocurrency was trading at $514.89 within a 24-hour market volume of $404.518 million. Most of the BCH trade volume was held by EXX with a total volume of $332.818 million. EXX’s trade volume was much greater than the second-placed BitForex which traded a total of $76.500 million in terms of Bitcoin Cash.
Bitcoin Cash’s fall comes right after news that the cryptocurrency is going to be traded on the TD Ameritrade backed ErisX, a new cryptocurrency market. ErisX is a platform that will allow individuals to trade cryptocurrencies and other derivatives.
TD Ameritrade’s Managing Director of Forex and Futures, JB Mackenzie said:
“We expect we will have customers interested in participating. The digital asset economy has been developing so much over the last nine months and investors are crying for a regulated, transparent platform.”
Stellar Lumens [XLM] was another cryptocurrency which is under the weight of the bear sliding at a weekly rate of 6.52%. At the press time, XLM was trading at $0.241 with a total market cap of $4.259 billion. Stellar Lumens’ 24-hour market volume of $33.959 million was majorly held by Binance with a total hold of 18.81%.
Binance was followed by BCEX which held 9.42% of the total trade that amounted to $3.351 million. Just a few weeks back Lumens had surpassed EOS to become the 5th biggest cryptocurrency on the back of a 26% jump in 24 hours.
Charlie Lee founded Litecoin [LTC] was also undergoing a spiral with weekly numbers showing that the cryptocurrency was falling at the rate of 7.90%. The cryptocurrency was trading at $58.16 with a total market cap of $3.407 billion and 24-hour market volume of $336.118 million. A major share of Litecoin’s trade volume was held by the Chinese cryptocurrency exchange called DOBI trade which enjoyed a 15.32% of the total volume.