On Saturday, August 24, most of the cryptocurrency markets continued into negative territory. Bitcoin was consistently in the red for the day. Its value dropped to less than $10,000 several times over a period of 12 hours. Only two of the leading 20 digital coins by way of market cap had an increase in the 24 hour period up to noon on August 24. Those were Cardano and NEO. Cardano gained 1.3 percent, and NEO gained 2.6 percent for the day.
Bitcoin's value was $10,066 as of about noon on August 24. This was a decrease of 3.3 percent. It dropped below $10,000 three times between noon August 23 and noon August 24. It also fell below Friday's low value of $10,078. Over the past week, Bitcoin dropped by 1.3 percent.
Ether, which is the second-biggest digital coin by market cap, lost 2.3 percent in value. It was trading at $190 as of noon August 24. However, it saw a value increase of about 2.9 percent in the past week.
XRP, which is the third-biggest digital coin by market cap, lost 2.2 percent of its value in 24 hours. It is trading at $0.269 as of noon August 24. Its value is up by 2.1 percent over the past week.
The total market value of digital coins dropped from $270 billion at 12:01 am August 24 to $263 billion at noon August 24. The volume of trades dropped from $52 billion to $49 billion over 24 hours.
Alt coin Monero saw the biggest loss of all 20 top coins. It dropped 5 percent over 24 hours. An industry analyst noted that there is a possibility of digital currency Libra overtaking the US dollar as reserve currency around the globe. This executive stated that in the past 10 years, central bankers around the world went from lack of awareness of digital coin to calling for one as the global reserve currency. This could also affect people who prefer to invest in gold as a reserve currency. There is a chance of more investment as currency exchange disagreements flourish around Earth.