Crypto Markets See Another Wave of Red, Despite Bullish News From Major Industry Players

Monday, September 10: crypto markets have seen mainly red today, with just two coins out of the top 20 cryptocurrencies in the green, and total market cap hovering around $194 billion.

The major cryptocurrency is currently trading at $6,287 by press time, down 1.5 percent over the past 24 hours.

As the overall market sheds billions, Bitcoin has again seen significant growth in dominance, currently taking the highest point of market share it's seen over the past 30 days.

At press time, Bitcoin dominance is just over 56 percent.

In a market where most coins are down by at least 3-4 percent, DOGE is up 13.6 percent over the 24 hours period.

The altcoin is currently up 2.3 percent over the past 24 hours and trading at $201. In contrast, Ripple, ranked 3rd, has suffered the biggest losses among the top 20 cryptocurrencies over the past day, having lost 6 percent to trade at $0.268 at press time.

The coin is down over 20 percent over the past 7 days, according to CoinMarketCap.

Markets appeared to react negatively to yesterday's news that the U.S. Securities and Exchange Commission temporarily banned trading in XBT Provider's exchange-traded notes Bitcoin Tracker One and Ether Tracker One.

In more bullish news for the industry, the crypto industry today saw the launch of two new stablecoins approved by New York regulators.

Yesterday, anonymous sources revealed that U.S. multinational bank Citigroup is developing a cryptocurrency product to give institutional investors access to crypto markets without owning cryptocurrencies directly.