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Top 20 Coins Weekly Sentiment Analysis: The Drops Pertain in the Second Week of August

Although slight rises have been noted during the previous week, the market still seems to be acting sluggish, with some minor improvements visible in the market throughout the top 20 coins.

While some of the toppers are missing out on collecting rises during a mildly positive impact in the market in the last 24 hours, the other part is hoping for a rebound with the latest increases against the fiat.

Frequent Drops and the Market Rollercoaster

The past week’s charts starting from August 5th and concluding with August 12th are not showing much progress among the top 20 cryptocurrencies.

That is how Bitcoin (BTC) went down by -10.03% during the period of the last seven days while showcasing some progress in the last 24 hours.

Bitcoin (BTC) Weekly Charts

Currently available at 6.342$ per one BTC unit, Bitcoin has lost over 90% of its value during the massive drop after reaching its all-time high of over 20.000$ per one unit.

However, Bitcoin is seen bullishly trying to acquire a rebound in the last 24 hours.

Meanwhile, the second largest crypto by its market cap, Ether (ETH) has dropped by -20% during the last week, doubling losses as seen with BTC, while it went up by 2.19% today while trying to bounce off.

Ethereum (ETH) weekly chart

During the last hour, ETH has had a minor drop of 0.05% which probably means that a small portion of traders is taking advantage of the last rise, now being traded around 323$ per one unit.   

Among the top losing coins among the list of top 20 cryptocurrencies in accordance with market capitalization, stands Ripple’s XRP with over -29% “chipped” off its value during the course of the last seven days.

However, the biggest loss among the top 20 crew carries IOTA (MIOTA) by losing nearly -40% of its price during the last week. However, MIOTA is seen jumping up by nearly 5% during the last 24 hours in a bold attempt of bouncing off, while XRP is up by only 0.52% against the fiat in the last 24 hours.

Bitcoin Cash (BCH) is worth around 574$ per one BCH while losing -18% in the last 7 days and getting back 2.18% to its value during the last 24 hours.

EOS is barely pulling off a rebound while rising only 0.39% in the last 24 hours while losing over -24% during a single week.

Stellar XLM might be the biggest winner here, alongside with jumping to the spot number 6 during the last couple of weeks, while losing only -9% in the course of the last seven days.

Litecoin (LTC) is still being traded under 60$ despite the latest rise of 4.20% while losing -19.33% during the last 7 days.

Stellar Lumens is now seen going up by 3.39%, already getting the third of its loss back in a single day.

Tether is holding on to the value of 1$, as it is a common case with USTD in the market, while Cardano (ADA) has dropped by -13% during this week, getting back by slight 0.22% during the last 24 hours.

Monero (XRM) is holding on well with over 3% of gains in a single day after losing over -18% on weekly charts.

TRON (TRX) is one of the rare top coins not experiencing rises in the last 24 hours, while it lost over -23% this week.

Ethereum Classic dropped by -20% in the last week, followed by NEM and OmiseGo that went down by over -24%. NEO suffered greatly with -30% of the drop in the last 7 days, while Dash, Tezos, Zcash and Binance Coin managed to keep their losses under -20% percent.

Author: Maja

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