Just when we thought that a real recovery was going to happen for cryptocurrencies, today they were all downloaded, different by double digits.
Last Friday, cryptography markets recorded a good recovery of nearly $ 30 billion up to a three-week high capitalization of $ 229 billion. This momentum was largely the work of XRP that went on an epic pump over the weekend, almost doubling in price.
Today, however, the model has been reversed once again as markets collapse, losing all these gains in one big route. Nearly $ 20 billion was lost over the last day or so, when the markets returned to $ 200 billion. Each lower will see them return to their lowest point in 2018 on September 12 when the total cap fell to $ 186 billion. Ethereum once again hurts with a 10% slide the day back to the annual lows of $ 210.
The XRP is rapidly erasing all this positive momentum that has led to a four month high of $ 0.69 on Friday. In just 24 hours its price has more than doubled as the volume of XRP trade has risen from $ 400 million to $ 4 billion, allowing it to overcome Ethereum, albeit briefly, and win the second place by market capitalization. Those monumental gains, not seen since last year, have been corroded today while the XRP has plummeted by 19% to $ 0.450 at the time of writing.
EOS also has a bad day with a landfill of over 11% to $ 5.15 according to coinmarketcap.com. EOS reached $ 6.20 at the weekend but those earnings are long gone. From its all-time high of nearly $ 22 in April EOS crashed by 76% at its current levels along with most other altcoins. The market capitalization for the fifth most popular cryptography fell to $ 4.67 billion.
Another mess at the moment is Stellar Lumens while XLM loses 11% of the day to $ 0.235. Last week was a good choice for XLM, which gained nearly 20% from $ 0.196 this time last Tuesday, but those gains are now falling in the digital landscape.
Cardano was one of the biggest losers in 2018 and was hit by 94% from his all-time high of $ 1.30 in January. Today it was neither kind nor ADA dumps over 11% to $ 0.077. Cardano is about to slip out of the top ten, as market capitalization is dangerously close to falling below $ 2 billion.
Other altcoins also in double-digit red stops include Monacoin, Wanchain, Ontology, Status and Siacoin.