Cryptocurrencies lose 10% of total market cap this week

August 10, 2018
Chris Wheal

Cryptocurrency prices were mixed on Friday, after losing around 10% of their total market capitalisations this week.

Cryptocurrencies fall, and collectively lose more than 10% of their market cap this week

The losses followed news that the US Securities and Exchange Commission was postponing its decision on whether to change its ruling on the listing of a bitcoin exchange-traded fund (ETF), that could have paved the way for further cryptocurrency ETF listings.

Bitcoin traded a little higher on Friday but was down 13.2% over the week after the SEC postponement. It was not the worst performer during the week, however, as iota slid nearly 32% after losing Sirin Labs as a key partner in a blockchain venture.

Stellar was among the best performers over the week after Shift Markets, which operates crypto-exchange platforms, announced a partnership with Lightyear to support the integration of Stellar technology and promote the adoption of its lumens currency.

Price round-up

Here’s a round-up of the price moves of the top 10 cryptocurrencies by market capitalisation at 11am on Friday [weekly moves in brackets]:

  • Bitcoin +0.8% at $6,363 (-13.2%)
  • Ethereum -0.7% at $357.61 (-11.9%)
  • Ripple -2.8% at $0.33 (-23.3%)
  • Bitcoin cash flat at $590.95 (-16.9%)
  • Eos -1.8% at $5.50 (-21.6%)
  • Stellar lumens +4.3% at $0.21 (-13.3%)
  • Litecoin -1% at $61.30 (-17.9%)
  • Cardano +0.6% at $0.12 (-7.4%)
  • Tether unchanged at $1 (flat)
  • Iota -7.5% at $0.58 (-31.7%)


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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