Crypto Markets Continue Trading in Red, Oil Reports Losses

Crypto markets are down on the day, with some top-20 coins reporting double-digit losses.

Thursday, July 11 — major cryptocurrency markets are trading in the red zone, with just a few coins reporting moderate gains, according to Coin360.

Market visualization courtesy of Coin360

Market visualization courtesy of Coin360

The leading cryptocurrency, Bitcoin (BTC), has continued coming down after yesterday’s sharp drop to trade at around $11,740 as of press time. The coin has lost 4.39% over the past 24 hours. During the day, Bitcoin has been trading in a narrow corridor between $12,191 and $11,377.

As reported earlier today, Bitcoin trading in Zimbabwe has continued to surge after the government banned the use of foreign currencies on June 24. The country is reportedly seeing a rise in peer-to-peer crypto trading as there are no local exchanges offering crypto transactions due to the existing ban on providing such services enacted by Zimbabwe’s central bank in May 2018.


Bitcoin 7-day price chart. Source: Coin360

Ether (ETH) has witnessed similar losses of around 4.67% on the day and is trading at around $273.88 at press time. Today, the largest altcoin has seen $290.15 as its highest price point and $261.71 as the lowest.


Ether 7-day price chart. Source: Coin360

XRP has reported larger losses over the past day, hitting an 8.81% slump to trade at around $0.329 at press time. The third largest coin is down over 18% on the last 7 days, with monthly losses at over 16%. Coin360

XRP 7-day price chart. Source: Coin360

Bitcoin Cash (BCH), Bitcoin SV (BSV) and TRON (TRX) are currently reporting double-digit losses of over 10%. The exception is Bitfinex’s Unus Sed Leo (LEO), stablecoin Tether (USDT), and Chain (CRO), which gained 0.73%, 0.14%, and 7.38% respectively.

Total market capitalization of all digital currencies is over $317 billion at press time, while the daily trading volume is around $95 billion.

In traditional markets, Brent crude futures fell 39 cents to $66.61 a barrel, and U.S. West Texas Intermediate (WTI) crude futures dipped 23 cents, or 0.4%, to settle at $60.20 a barrel, after hitting their highest since May 23 at $60.94.

Keep track of top crypto markets in real time here
Publication date: 
07/11/2019 - 22:10

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