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It’s been a rough week for traders, as the markets took a serious knock – fortunately not as bad as traditional stock & equity markets though – but still not great.
Bitcoin finally had a break out of the stable range of the $6400 to the $6600 range this week, and it was a break to the downside, with a $300 selloff in the space of 90 minutes in the early hours of Thursday morning (CAT), with the price falling from $6520 to finally find some support at $6220.

As our analyst Graeme Tennant has been expecting a violent break, possibly to the downside, and in this episode of the roundup, we ask him if this was the break he was expecting, take a listen below:

Here’s the rest of the roundup in written form, for you…

This time last week the overall marketcap was sitting on $217.5 billion and after the flash crash, we’re now sitting on $201.3 billion at time of recording, reflecting a 7.48% loss, a far cry from last week’s 0.9% weekly price differential.

Today sees 57 coins of the Top 100 in red on the 24 hour timeframe, and 22 in green. The remaining 21 indicate a change below 1%, which we’ll be calling “non-movers” in our daily analysis.
The biggest loser in the Top 100, is MOAC (a sharded blockchain development platform), which is down 10.51% to $1.27 in 24 hours.
HyperCash is the 2nd biggest daily loser, down 9.27% to $1.80 per HC.
Bytecoin, a cryptonote based privacy coin, is the 3rd worst daily performer, down 8.95% to 0.14 US Cents per BCN.

Biggest gainers on the daily in the Top 100 are 0x (the Ethereum token exchange platform), up 19% to 78cBAT (Basic Attention Token), the blockchain-based digital advertising platform, up 8.18% to 17c – and MANA token (from the Decentraland project – the virtual reality platform), up 7.2% to 7 US Cents.

Looking at our exclusive CMC16, the Top 16 coins with a marketcap over $1 billion… Not a single one of them are in green on the 7 day period as Thursday’s selloff really hit the big boys hard. The CMC16 is down overall from 198.7 billion dollar marketcap to 179.3 billion dollars, losing 9.76% in the last week.
The best performer being USD Tether because it’s the most stable (apparently) sitting at 99 US Cents, down 0.24% in 7 days. Tron is the 2nd best performer in the CMC16, down 3.56% to 22c.
The worst performers in the CMC16 are XRP, down 18.53%, ETC down 13.41% and CH down 12.97% respectively.

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Dominance wise, no major changes, but Bitcoin continues to gain ground. With a dominance of 54.16%, up 2% from last week, with Ether at 10.01% and XRP at 8.32%, – while all others still share 18.99% of the market.

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That’s where I’ll leave it for this week.

A big shoutout to everyone who came out to the co-hosted meetup at Lucky Shakers in Umhlanga, KZN on Thursday night. It was great to partner with Linum Labs, Blink and BECSA for a great opportunity to network with like-minded blockchain enthusiasts.

Don’t forget to make sure you’re signed up to the SA Crypto weekly newsletter below, where we bring you the most important news in crypto from the past week.

Have a great weekend everyone.

Luke is a senior software engineer at one of South Africa's most prominent development agencies. His recent areas of focus include real-time transaction processing systems, real-time mobile payment systems, mobile web applications and back-office financial management systems. With his skill in a variety of programming languages such as C#, JavaScript, Python, SQL Server, HTML5, Erlang, and many more, Luke is a knowledge powerhouse for the SA Crypto community, where his understanding of the various mining algorithms make him the go to person for insight and advice on what coins give the best ROI, and are the most sustainable. He is also a developer for SnowGem, a prominent privacy coin.