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Crypto market wrap: Altcoin prices stay in the green

By Monte Stewart


Updated

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In this article:
ANKR/USD
ANKR/USD
0.02276 USD
0.00085 +3.920%
ATOM/USD
ATOM/USD
10.5443 USD
0.2184 +2.140%
BTC/USD
Bitcoin / USD
17123.90 USD
606.75 +3.690%
CEL/USD
CEL/USD
1.8300 USD
0.014 +1.250%
EOS/USD
EOS / USD
0.9571 USD
0.0242 +2.630%

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Illustration of the cosmos
The Cosmos blockchain's ATOM coin led the way as altcoin prices stayed in the green on Wednesday. - Photo: Shutterstock

Altcoin prices stayed in the green Wednesday as investors continued to display a healthy appetite for cryptocurrency.

The Cosmos blockchain’s coin (ATOM) led the way, showing a 9% gain at the time conventional markets closed in North America. (All figures based on CoinMarketCap data.)

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ATOM to USD

Chiliz keeps gaining

Chiliz (CHZ) posted the second-best increase – approximately 8% – after leading the market with a 24% gain on Tuesday.

Ankr also rose 8% on Wednesday, rounding out the top three gainers.

CHZ to USD

Celsius coin falls out of top 100

Most declines were modest, but the beleaguered Celsius Network coin (CEL) got hammered, sinking 17% and falling out of the top 100.

The plunge came a day after Celsius sued its former money manager Jason Stone, accusing him of theft.

The coin has been prone to extreme volatility since the Celsius Network collapsed, and fellow crypto lender Voyager Digital and hedge fund operator Three Arrows Capital imploded.

All three companies filed for bankruptcy protection after being pounded by the collapses of the original luna coin and related terraUSD stablecoin.

SOL/USD

13.88 Price
+2.630% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 0.2853

XRP/USD

0.41 Price
+2.450% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 0.00407

DOGE/USD

0.11 Price
+2.440% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 0.0015874

BTC/USD

17,123.90 Price
+3.690% 1D Chg, %
Long position overnight fee -0.0500%
Short position overnight fee 0.0140%
Overnight fee time 22:00 (UTC)
Spread 66.00

Of the top 100 coins, EOS was the biggest loser – but only dropped 4%.

EOS to USD

 

Bitcoin approaches $22,000

Market leader bitcoin (BTC) approached $22,000 after starting the week slowly. But analysts are wary of a potentially large decline in September.

Edward Moya, a senior market analyst at Oanda, wrote in a note Monday that it could be difficult for bitcoin to stay above $20,000 “if King Dollar continues to appreciate leading up to [US Federal Reserve] chair [Jerome] Powell’s speech at the Jackson Hole Symposium,” Bloomberg reported.

Bitcoin is down more than 50% this year. According to Bloomberg, its price has fallen 10% on average in each of the last five Septembers.

Ether (ETH), the main coin of the Ethereum blockchain, continued to outperform bitcoin and stayed about $1,600.

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

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