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The sell-off of altcoins, alternative bitcoin coins, shows no signs of moderation on Wednesday, with all the main altcoins on track to record three consecutive losing sessions to start the week.
The disappearance of small-cap coins has pushed the bitcoin share of all digital currencies to a maximum of nine months of 58.1%, up from 37.9% at the beginning of 2018, according to data from CoinMarketCap.
Wednesday trading, bitcoin
BTCUSD, + 0.36%
changed the last hand to $ 6,221.20, down 0.5% from Tuesday at 5:00. Eastern Time on the exchange of cryptocurrency Kraken.
CoinMarketCap
Ether, the largest altcoin, continues to wriggle, trading at a fresh 14-month Wednesday of $ 167.16, as most industry experts continues to hypothesize what is behind the disappearance of the popular digital currency. "To the great displeasure of many crypto-enthusiasts, the bear market has continued in recent days, with ethereum appearing to lead the charge," wrote Mati Greenspan, eToro senior market analyst.
"The general direction of the market is quite clear, but it remains a mystery why ethereum is losing ground faster than most other cryptographic resources." Greenspan added the comments of ethere co-founder Vitalik Buterin Sunday did not help the drama of the second largest digital currency.
& # 39; The blockchain space is coming to the point where there is a ceiling in sight. If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There's no more an opportunity for another 1,000-fold growth in anything in space & # 39;
Read: Traders are making record bets for the ether of digital currency to fall
Ether
ETHUSD, -5.03%
was the last at $ 171.43, down 5.7%. The story is the same for the holders of other altcoins. Bitcoin money
BCHUSD, -2.90%
fell by 3.9% to $ 417.90, Litecoin
LTCUSD, -4.13%
fell 6% to $ 47,81 and the Ripple XRP currency
XRPUSD, + 1.11%
was 26 cents, down 0.8%.
Read: Do ICOs run out of cash behind Ether's underperformance?
Bitcoin futures are mostly unchanged on Wednesday. The September contract of Cboe Global Markets Group Inc.
XBTU8, + 0.64%
is down 0.1% to $ 6.220, while the comparable contract of CME Group Inc. in September
BTCU8, + 0.32%
increased by 0.1% to $ 6.235.
Read: Bitcoin is flirting with a new low for the year after the SEC has stopped negotiating on 2 funds
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