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The market fell $ 25 billion from yesterday's high of $ 219 billion, slipping to $ 193 at the time of writing.
Altcoins was severely hit with Ethereum down by nearly 18% overnight on coinmarketcap.com and striking lower lows since August 2017, now trading at $ 264. Ripple is also at an annual low, down 14.33% to trade at $ 0.26, a value not seen since last December. The XRP is down 92% from its historic high of $ 3.37, making it one of the hardest-hit clones in the top ten market cap. Bitcoin's cash and EOS also fell 16% percent today and Cardano suffered a 20% decline making it the biggest loser in the top 10 in the last 24 hours.
The biggest losses in the top 100 were seen by Ark, ICON and Wanchain with losses of 30.5%, 29.05% and 27.97% respectively. A classified currency no. The 886 inflation currency is ironically down 92% from yesterday, and a handful of relatively obscure currencies are trading even higher than yesterday.
Bitcoin has been at its lowest since October 2017, almost testing the $ 6,000 to $ 6,040 although it is one of the least affected currencies in the last 24 hours, down more than 6.5% from yesterday. The only currency to suffer a minor hit was Cryptonex at no. 66 on coinmarketcap along with 2 stablecoins, Tether and TrueUSD.
CCN recently reported the increase in the Bitcoin domain over the recent downturn that allowed the decline in Bitcoin to have a significant impact on many altcoins in the market. The dominant position is currently 54% compared to 35% in May.
In fact, the incredible price drop of Ripple was found despite numerous high profile figures and news regarding the recently emerging project, such as a partnership with Madonna, a conference with Bill Clinton as the keynote speaker and a potential list of Coinbase. Bitcoin's dominance and overall market trends seem to be separating price action from progressive developments in space, something that may change over time with more investors entering the space.
Yesterday, CCN reported downward trends in the market that claimed that Bitcoin would have tested around 6050 before sinking further to 6012 if broken, which could be the moment when Bitcoin is headed.
Image highlighted by Shutterstock.
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