Markets have been blocked again; Ethereum, Bitcoin Cash, Litecoin and Cardano are destroyed.
Pain in the crypto-land increased in the last 24 hours when markets fell to a new low of 2018. The world fell from Ethereum as it brought downward charges to a lower market capitalization at $ 190 billion.
The ETH should be renamed "DETH" since the second largest cryptocurrency in the world downloads another 12.5% in the day to $ 170. The only other time that Ethereum has been so low since The bull market started in 2017, it was the middle of July last year when it fell to $ 150. Looking at a chart of a year indicates that Ethereum is dying slowly and painfully.
The collapse was blamed for ICO projects that downloaded the Ethereum that they raised during the funding and the collection from the markets. Some analysts have predicted that there will be further declines coming, as ICOs have only sold 5% of their holdings in the ETH at the moment. If Ethereum will not soon find a fund, it could be reduced to about $ 50, which is where it was the last stable before the great wave of encryption of 2017.
Bitcoin is going much better losing just 1, 3% of the day to $ 6,270. BTC is the only cryptocurrency that has survived this storm and could be the only one left standing when the dust settles. The ether is not the only crypto-pain right now, Bitcoin Cash, Litecoin and Cardano are all beaten at 11-13 percent at the moment. This brought them to the lowest levels for over a year.
More despair can be seen in the first twenty with Nem and VeChain suffering the greatest daily losses of 14-16%. Not far behind, Dash, Iota, Tron and Neo lose 10-11 percent of the day. Surprisingly, only Dogecoin is back in the green with a gain of 1.25% on the day as if he were making fun of the rest of the digital currencies.
Total market capitalization fell to its lowest level in 2018, dropping another 4.6% a day to $ 186 billion. The ten billion dollar landfill brought the markets back to the levels of October 2017, but the bulls were in charge and the bears are now reigning. Further declines could postpone most cryptocurrencies in the dark, as only Bitcoin seems to survive.