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On 14th August, the cryptocurrency market has been redded by the bear attack. In the past 7 days, the biggest losers among the top 20 cryptocurrencies have been recorded to be Tron [TRX], IOTA [MIOTA], NEO and Ethereum Classic [ETC].

Last week, Tron was one of the most controversial coins. The platform recently launched its Tron Virtual Machine beta version and unveiled their secret project, Project Atlas. Moreover, Tron’s partnership with BitTorrent has made it the largest open-sourced ecosystem in the world. Last week saw the rapid addition of three new entrants into the Super Representative Club. These three included Raybo, uTorrent, and Huobi Global.

Despite this, the coin turned out to be one of the biggest losers in the market in the past 7 days. On 7th August, TRX market opened at a trading price of $0.029 with a market cap of $1.95 billion. The week saw a solid wipeout of about $860 million in the market cap of TRX as its price dipped to a new low on 14th August.

At press time, TRX is trading at $0.018 with a market cap of $1.19 billion and has dipped to a severe -19.76% in the past 24 hours. On the other hand, throughout the week, TRX has taken a hit of more than 38% in its price.

TRX 7-day price chart | Source: CoinMarketCap

Simultaneously, another butchered coin in the cryptocurrency market is Ethereum Classic with its price drowning by 41.93%. Amonsgt the top 20 coins, Ethereum Classic was the only coin which was on a roll since the beginning of this month. The coin was listed on one of the leading cryptocurrency exchanges in the world, Coinbase Pro.

In addition, the coin turned out to be the 6th cryptocurrency to be listed on Robinhood. Bittrex, another leading cryptocurrency exchange also announced its support for the coin by revealing that it would be opening a USD market for the ETC.

At press time, ETC is holding on to $11.07 with a market cap of $1.14 billion. In the past 24 hours, the price has hit a low of 17.36% with a trading volume of $302.2 million.

ETC 7d price chart | Source: coinmarketcap

ETC 7d price chart | Source: CoinMarketCap

In the course of the week, the highest price that ETC traded at was $20.09 with a market cap of over $2 billion. Soon enough, the capitalization saw a massive elimination of close to a billion dollars, falling at $1.07 billion today.

Last week, the two co-founders of IOTA, Serguei Popov and Sergey Ivancheglo got engaged in an altercation regarding trust issues between the two. The point of distrust was raised by Ivancheglo and directed at Popov. This came after the talk of changing the Foundation statue among the board members.

As of IOTA’s token MIOTA, the red has soaked the price with a drop of 45.64% through the week and 19.91% in the past 24 hours. The week for MIOTA opened with a trading price of $0.802 with a market cap of $2.22 billion. However, the cryptocurrency price went down sliding all the way to a bearish $0.408 with a market cap of $1.13 billion, which was also the lowest of the week for MIOTA.

At the time of writing, MIOTA is trading at $0.432 with a market cap of $1.2 billion and 24-hour trading volume of $48.9 million.

MIOTA 7d price chart | Source: CoinMarketCap

MIOTA’s  7-day price chart | Source: CoinMarketCap


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Priyamvada Singh


Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.


(Excerpt) Read more Here | 2018-08-14 16:00:07

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