It seems that the market is returning to the green, after days of sharp falls by Ethereum, Zcash, Bitcoin or Litecoin, where large packages of cryptocurrencies have been sold.

We have several days of constant falls in terms of values ​​in all cryptocurrencies. The market situation is truly atypical and if we analyze the data in a comprehensive and individualized way, we will quickly see that with the current data, the situation does not make the slightest sense, since with the volume of transactions in the last 24 hours, all cryptocurrencies they should be green. Depending on the market we use, the fall of Bitcoin, Ethereum, Zcash or Litecoin, they fall more or less against the dollar. If we go to the global market, some are in green, despite being in red in Poloniex or Bittrex.

ETHEREUM

What to say about Ethereum that hasn't already been said, about the causes of the impressive drop. We have already explained the factors in other posts, being the cause of those who mine that when they have coins, they sell without thinking about it, the problems of the blockchain network that has problems to support the usual transactions and ICOs at the same time, but also, it seems It is that investors who compared at $ 50-60 are now selling at relatively low prices, to raise capital. The graph of sales volume in the last hours doubles the data of the last seven days and not only that, it is very similar to that of Zcash, which we will touch on next.

ZCASH

It has cost us, but we already know why Kraken, Poloniex and Bittrex have deactivated the wallets of this cryptocurrency and that is it seems that there is an error inside of ZEC chains, which can cause a bad count of operations, and may be the subject of capital losses and fraudulent operations. This has forced the exchange houses, to avoid problems in operations and losses to users, to close these portfolios temporarily until this error is solved.

During a security review of the code provided by IOHK and the ZenCash project, it was determined that a buffer overflow might occur. What would cause this is a denial of service situation and remote code execution against all nodes currently running the code base. Subsequent investigations and revisions indicate that this vulnerability is based on the ZenCash code. Security research work on cryptocurrencies often identifies these issues and they are usually resolved as quickly as possible.

VOLUME ... BUT SALES

If we look at the volumes in the last 24 hours, with respect to transactions, in Poloniex we see Bitcoin exceeds 69 million, Ethereum exceeds 45 million and Litecoin 12 million, while Zcash is around 3 million in volume of operations with respect to the USDT. If we go to the world market in WorldCoinIndex, we see that the volume of Ethereum is 1 trillion, Bitcoin is 674 million, Litecoin registers 405 million, while Zcash registers 21 million, that because the wallets are deactivated.

Analyzing the top 10 of WorldCoinIndex (Zcash is in position 11 in volume), we see that there are securities that are pointing strong such as Ripple (4), which despite the decrease registers 163 million in volume of operations, Ethereum Classic (5) is in fifth position with 128 million, EOS (6) records 95 million, Dash (7) records 29 million, Bitshares (8) records 26 million, Stratis (9) records 24 million, and finally, Siacoin (10) records 22 million.

WHEN WILL THEY RISE AGAIN?

I would like to give a specific date for all cryptocurrencies to return to their prices before this avalanche of sales, but that is difficult to say. The data, at this time, point to a market recovery, which, as we already know, during the first days after a big drop, the rebound is soft and after a week, the rise starts to be stronger. It is possible that going from the current $ 200 to $ 300 will cost two weeks for Ethereum and Zcash, and Bitcoin, it will take up to a month to reach $ 3000 again, although of course, this is relative data, since the market is sovereign.