The past 24 hours were a bit stressful for investors as the market recorded a new loss of $18 billion. Major cryptocurrencies led by Bitcoin and including Ethereum, EOS and Bitcoin Cash all dropped by 4% to 13%.
Bitcoin was first to move downwards, ending the day with a minus of 4%. Ether, which is the native cryptocurrency behind Ethereum, also dropped by 13% against the dollar, becoming one of the worst cryptocurrencies alongside NEO.
The tokens recorded the steepest drop yesterday. The Ethereum-based ones were obviously the biggest losers here. Speaking of, Theta Token, Aion, Pundi X, Aelf, DigixDAO, WanChain, and VeChain all recorded declines which varied from 14% to 18%.
Even though Bitcoin broke the 50% dominance and became half of the total crypto market cap, the price did not follow the news. Over the past few weeks, Bitcoin has lost a significant portion of its value – just like the tokens – which lost over 50% of their value against Bitcoin.
Currently, the volume of BTC remains below $4.4 billion. The volume of the stablecoin Tether (USDT), on the other hand, has increased to $2.8 billion, which is more than $1.2 billion higher than the volume of Ethereum.
Bitcoin is right now trading at $6,345 (at press time) with a slight improvement from yesterday. Ethereum is following at $322, while Bitcoin Cash’s current price is $575.
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