Sunday, September 22: The crypto markets see a wave of losses in the middle of the next launch of Bitcoin (BTC) futures delivered physically from Bakkt, scheduled on Monday.
Bitcoin is the only cryptocurrency of the 20 major attempts to gain momentum today, while the rest is experiencing significant losses, with some falling more than 7% in the last 24 hours before the end of this release.
Market visualization. Source: Coin360
Bitcoin has continued to round the $ 1
24 hour Bitcoin price list. Source: Coin360
Ether (ETH), the second largest cryptocurrency by market value, has fallen 4.1% to quote $ 207 at the time of publication of this report. Over the past seven days, the main alternative currency rose by 9.5%, following a significant upward movement earlier this week.
Ether seven day price chart. Source: Coin360
XRP, the third larger cryptocurrency with market value, fell nearly 6% over the past 24 hours and is listed at $ 0.272 at the time of publication, but the currency has still risen more than 5% over the past seven days.
XRP seven day prices. Source: Coin360
Tron (TRX), the thirteenth largest cryptocurrency by market value, experiences the largest losses, with a decline of more than 9%. Earlier today, Tron's founder, Justin Sun, announced a new plan for the Tron Testing Mechanism that will focus on ways to distribute participation revenue and greater community participation.
Total Capitalization The market experienced another fall today, from $ 266 billion to $ 263 billion, at the end of this issue.
At the same time, the current state of the market may be the beginning of a new bull market, according to investor and entrepreneur Bitcoin Willy Woo. In a tweet on September 21, the merchant cited the chain metric as potential evidence of "closing the bull market opening."
Bakkt's physical future BTC will launch in approximately hours
As reported by Fortune, the new wave of losses in the market comes just hours before the launch of the physically delivered Bitcoin futures from Bakkt, one of the most anticipated events in the industry to date.
At the same time, the crypto community's views on whether the launch of Bakkt's physical future BTC will be successful, with 50% of people waiting for the platform to fail, according to a public survey on Twitter launched by cryptocurrency enthusiast Alex Krüger on September 21. At the end of this issue, the vote has accumulated 2,355 votes.
In a tweet on Sunday, key cryptocurrency defender John McAfee supported the upward trend at Bakkt, claiming that the release of physical futures in exchange would increase the confidence of institutional investors. McAfee added that the event could increase the adoption of cryptocurrencies.