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Hard Fork Hits Ethereum And Mildly Impacts Cryptocurrency Market


Feb-2019 | Intense Research | Technology and Media

Cryptocurrency markets shrink marginally again; Ethereum suffers significant delays, following Tron and Maker. The small recovery of yesterday collapsed as quickly as it started and the cryptographic markets are retreating. The total market capitalization is just over $120 billion and there are likely to be some drop ahead.

Bitcoin found a new level of short-term resistance at $ 3,700 and failed to outperform. As a result, the bears are back in the game and the BTC returned for $3650 at the time of writing, a drop of 1.5% on the day. Bitcoin fell nearly 10% from the same time last Wednesday, when it was more than $4,000.

On the other, Ethereum is getting worse every day. Delays in the long-awaited interval of Constantinople hard fork dropped ETH to more than 5.5% to $120. XRP, which lost less than 15 on the day, consolidated its leadership in Ethereum to $800 million.

The top ten are completely red again during the Asian trading session of the day. Tron and Litecoin fall 3% to 4% and Stellar is not far behind. This led Tether to move up the rankings and topple XLM by sixth place, only $200 million behind EOS in fifth place. The altcoins are all very weak at the moment, which has made the cryptocurrency market to struggle.

There are two coins today that get the Fomo and win two digits. Stratis is 18% bigger and with WAX the next 14% do not seem to motivate much. Dentacoin and Factom both lost 16% and 12%, respectively.

In addition, the future of cryptocurrency also relies on the adoption of blockchain technology as it will clear multiple challenges for cryptocurrency in terms of flexible and secure financial service. This will also create some lucrative opportunities in the global cryptocurrency market.

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