Ethereum

Ethereum Market Report: Social Media Giants Ban Crypto Ads and $ETH Tanks

Brief:


The latest social media ban on crypto ads came into effect this week on Twitter and prices continue to tank across the board. Ethereum is down -7.92% in 24 hours, down -26.45% on the week and down -52.83% on the month on a last price of $411.03. The Ethereum marketcap is $40,482,676,812 with a circulating supply of 98,490,808 $ETH. $ETH/USD is trading between a 24hr high of $450.99 and a 24hr low of $395.00 on a 24hr Bitfinex volume of $139,305,000. This trading volume is moderate to heavy in a worldwide volume of USD$ 1.76 billion. The weekly price trend is down.

Last price

411.03 $ETH/USD

$USD

last price $ 411.03
one week ago $ 558.83

Price change

Price change is the $ETH percentage change within the period:

period change
day -7.92%
week -26.45%
month -52.83%

Volume

Volume

$ETH 24 hour volume
USD $139,305,000
all $ETH currencies $1,766,230,000

The 24 hour volume for $ETH/USD on Bitfinex is $139,305,000. This volume weight is moderate to heavy when compared with Bitfinex daily trading levels for $ETH over the last month.

The total 24 hour volume for all reporting $ETH markets is $1,766,230,000.

Market Share

The Bitfinex currency pair $ETH/USD is 7.89% of all $ETH traded in twenty-four hours. OKEx (4.94%) and Huobi (4.71%) hold second and third ranked $ETH pairs today.

Top $ETH Pairs
Tap/click for detail:

Remarks

The latest social media ban on crypto ads came into effect this week on Twitter and prices continue to tank across the board. Ethereum is down -7.92% in 24 hours, down -26.45% on the week and down -52.83% on the month on a last price of $411.03. The Ethereum marketcap is $40,482,676,812 with a circulating supply of 98,490,808 $ETH. $ETH/USD is trading between a 24hr high of $450.99 and a 24hr low of $395.00 on a 24hr Bitfinex volume of $139,305,000. This trading volume is moderate to heavy in a worldwide volume of USD$ 1.76 billion. The weekly price trend is down.

Cryptocompare.com Market Analysis Report 29 March 2018 states:

“The Russian Association of Crypto-Currency and Block-Finish (RACIB) along with industry associations in Korea and China are planning to sue Google, Twitter, Facebook and Yandex for refusing to place cryptocurrency advertising. RACIB head Yuri Pripachkin told the Blockchain RF-2018 congress. The actions of these four tech companies have negatively affected the crypto market:

“We believe that this is a use of the monopoly position of these four companies, which have entered into a cartel agreement with each other in order to manipulate the market. The ban from these four organizations has led to a significant drop in the market in recent months.”

Cointelegraph ran a story today titled “Bitcoin Drops Below $7500 As Twitter Ban Takes Toll On Markets”. They observed it was “a depressing week for traders since Twitter confirmed it would ban cryptocurrency advertisements March 26, BTC/USD fell to $7450 on Cointelegraph’s Price Index.”

Zane Huffman on TheMerkle wrote “When individuals want to exit cryptocurrency markets, they likely have to dump their altcoins for BTC to dump BTC for cash. Every one dollar sold generates two or three dollars of sell pressure. This would explain the extreme volatility through both the recent upwards and downwards trends.”

CoinDesk ran a story “Major Cryptocurrencies Are Hitting 2018 Lows Today” but gave no reason why.

Regulatory uncertainty and restrictive banking and corporate measures in months past have also taken their toll on the descending price of bitcoin and crypto.

The last time ethereum was at today’s price was four months ago on or about November 23 of 2017, according to CoinMarketCap.com.

One Year $ETH Chart

$ETH One Day Candles

Browse Ethereum Collection

Learn about the unique characteristics of $ETH. Browse our collection of Ethereum Market Reports.

Thursday March 29 2018 Bitcoin Background

Altcoins such as Ethereum ($ETH) may show a relationship with Bitcoin ($BTC) which changes with the alt, bitcoin and market conditions:

24 Hours of Bitcoin
24 Hours of #Bitcoin
-5.11% price $7,537.90
vol $5,495,130,000
mktcap $127,740,080,112
16.95M #XBT 18:45
http://kittybitcoin.com/bitcoin/24_hours_of_bitcoin.php

XBTLivePriceTM

Yesterday

Highlight Chart

Tap / click to enlarge:

The latest social media ban on crypto ads came into effect this week on Twitter and prices continue to tank across the board. Ethereum is down -7.92% in 24 hours, down -26.45% on the week and down -52.83% on the month on a last price of $411.03.
The latest social media ban on crypto ads came into effect this week on Twitter and prices continue to tank across the board. Ethereum is down -7.92% in 24 hours, down -26.45% on the week and down -52.83% on the month on a last price of $411.03.

Data sources

Main Data Source

Bitfinex is the main data source for this report. The One Day Candles chart, highlight chart, and digital asset numeric trading data are from Bitfinex.

Secondary

CoinMarketCap is the secondary data source for this report. The One Year Chart, cryptocurrency rank, token circulating supply, and daily market share are sourced from CoinMarketCap.com.

Tertiary

XBTLivePriceTM and 24 Hours of Bitcoin are fine data products from KittyBitcoin.com

Other sources are credited where used.

Market capitalization

Market capitalization is the total $US dollar value of the Ethereum market calculated using the formula:

market cap = ( circulating supply x last price )
Market cap $ 40,482,676,812
Circulating supply 98,490,808
Last price $ 411.03

Daily High Low

daily high 450.99 USD
daily low 395.00 USD

Trend

The weekly trend is down.

trend is DOWN

Trend is "down" when the weekly price movement is predominantly downwards.

Resistance

Resistance is the highest price within the period:

period resistance
day 450.99 USD
week 578.18 USD

Support

Support is the lowest price within the period:

period support
day 395.00 USD
week 395.00 USD

Today’s low is the lowest in the week and month.

Market sentiment

Market sentiment is bearish.

sentiment bearish

Image courtesy Pixabay.com

Summary

The latest social media ban on crypto ads came into effect this week on Twitter and prices continue to tank across the board. Ethereum is down -7.92% in 24 hours, down -26.45% on the week and down -52.83% on the month on a last price of $411.03. The Ethereum marketcap is $40,482,676,812 with a circulating supply of 98,490,808 $ETH. $ETH/USD saw weekly resistance at $578.18 USD and weekly support at $395.00 USD. Market sentiment is bearish. The weekly price trend is down in daily moderate to heavy volume trading.

Analytic Strategy: Objective Analysis

Objective analysis begins free of subjectivity. Interpretation of technical analysis geometric patterns, for example perceived shapes on a trading chart, is inherently subjective. This report is free of technical subjectivity to the maximum extent reasonably possible.

Disclaimer

Past history is NOT an indicator of future results. Read the legal disclaimer:

http://kittybitcoin.com/docs/disclaimer.php

Printed

This report was printed on Thursday March 29 2018 17:28 hours UTC. Contact KittyBitcoin to request custom reports. Share your thoughts with @KittyBitcoin on Twitter.

Bitcoin & Ethereum

Thanks for reading! 🙂

Tags

Ethereum, $ETH, USD, Bitfinex, Market, Report, $ETH/USD, altcoins

KittyBitcoin supplies blockchain intelligence on http://kittybitcoin.com, on industry leading websites, and through white label channels since 2014. Follow @KittyBitcoin on Twitter®.
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