Digital Assets Hammered - Mine Digital
Knowledge

Digital Assets Hammered

September 4, 2020 • 
Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Bitcoin Bear
Spread the word
Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Digital assets have been soundly routed overnight with broad 10-30% falls backing up yesterday's weakness. The NASDAQ was lower by almost 5%.

Morning Traders,

With weakness in risk assets starting in Bitcoin/Ethereum and now showing up in equities, markets have become a little dicier overnight. With a lot of talk of buying the dip, it is hard to see how the market doesn’t trade lower.

The two most interesting points on this turn are the expected policy responses to provide a put to market which we don’t expect soon (and as terrible as that knee-jerk reaction is) and the timing of an announcement from China this morning, attempting to smother the renewed life out of the USD index, announcing a sale of USD Treasuries.

Bitcoin

BTC has fallen further from its perch overnight, last trading a touch over $10k. The big levels in BTC to the downside are $10k and the trend-line at around $9700-9800.

24 hr high: $ 11,471

24 hr low: $ 9985

BTC/USD Chart

Ethereum

Ethereum has held up far better than Bitcoin so far, although is now down 25% from its high.

24 hr high: $ 451

24 hr low: $ 371

ETH/USD Chart

Digital Assets

Digital assets have been crushed overnight, with some moves as large as 30%.

AssetCodePrice (USD)24hr Change (%)VolumeMarket Capitalisation
Aave$LEND0.507643-26.6070917654510636588454
Algorand$ALGO0.358145-23.55829120180773285554163
Aragon$ANT5.06-21.0941142626500175132551
Balancer$BAL22.45-29.7671963026239166889795
Bancor$BNT1.39-12.165626760104691136672
Cardano$ADA0.096542-16.425894448658862985363528
Chainlink$LINK11.75-20.7090612083838764456433319
Compound$COMP188.37-15.79205380409614775925
Curve Finance$CRV2.93-33.152318063404389693199
Dai$DAI1-0.42612310388672515264271
Kyber Network$KNC1.29-22.62715100175912252395146
Loopring$LRC0.216822-3.44068119012191256614347
Maker$MKR573.41-13.7480443059636519349799
Meta$MTA5.76-24.756141334174426356344
mStable USD$mUSD0.997643-0.7687324259626251485
Ren$REN0.356808-29.6637672020306318290109
Reserve Rights$RSR0.01968058-28.1963727782410135069354
Stellar$XLM0.077863-16.012612308650981633441552
Synthetix$SNX5.25-17.9483894708380613620774
Tezos$XTZ2.54-19.769642678612761817878325
Universal Market Access$UMA16.87-28.5543236394866927893320
yearn.finance$YFI29454-7.50838519402414880079250

Whether you want to simply buy and sell or access advanced features, we have the tools you need. Mine’s order-book exchange lets you trade BTC, ETH, XRP, LTC and BCH against AUD, USD and USDT*. Mine Digital, Australia’s best Cryptocurrency Exchange.

Written By
Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email

Sign up

Never miss a thing! Sign up to
The Knowledge Mine Digital’s newsletter on all things Crypto