Crypto prices fall but bitcoin holds $8,000 mark

July 31, 2018
Chris Wheal

Cryptocurrency prices fell on Tuesday, but bitcoin managed to find support at the $8,000 level, holding the key level for the eighth-consecutive trading session.


Bitcoin price finds support at the $8,000 level

While there has been some unwinding of recent gains across the crypto market, bitcoin remains nearly 25% higher over the month as a number of influential investors appeared to be warming to the crypto market.

ETFs denied

In recent sessions, however, the news has not been quite so encouraging. The US Securities and Exchange Commission refused to allow the Winklevoss twins to list a bitcoin exchange-traded (ETF) fund on the Bats Exchange, while CME Group said it was not planning to allow altcoin ETFs on its platforms.

While there was little fresh newsflow on Tuesday to influence prices, most of the top 10 cryptos by market capitalisation were lower.

Most were also lower over July, but Stellar’s lumen broke that trend in style, climbing nearly 40% over the month as it announced a string of new high-profile partnerships using its influential blockchain and token.

Price round-up

Here’s a round-up the top 10 cryptocurrencies on Tuesday, 31 July at 11am [London time]:

  • Bitcoin -1.4% at $8,054
  • Ethereum -3.8% at $446.36
  • Ripple -3.4% at $0.44
  • Bitcoin cash -3.2% at $795.83
  • Eos -11.4% at $7.35
  • Stellar lumens -10.5% at $0.27
  • Litecoin -3.4% at $80.49
  • Cardano -10.1% at $0.14
  • Iota -3.4% at $0.97
  • Tether flat at $1

We’ll publish another daily price round up at this time tomorrow – including July’s monthly price moves.

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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