The first 100 cryptocurrencies for market capitalization were all lower than 9:00 ET, according to CoinMarketCap.com and the total market capitalization of all cryptocurrencies decreased by $ 21 billion in the last 24 hours.
Ether, the digital token of the etheum blockchain, has fallen to its lowest level since September, according to CoinDesk's data. The cryptocurrency has dropped about 7% to $ 267.61 from 9:00 ET. The XRP meanwhile fell 4.3 percent to 27 cents.
The latest defeat of digital coins followed a rally last month that saw bitcoin climb at a price above $ 8,000. The news of institutional interest in space by the BlackRock asset management giant, as well as a collaboration between Intercontinental Exchange, Starbucks and Microsoft on a digital asset platform, have removed sentiment in the cryptographic market.
According to Charles Hayter, managing director of the digital comparison site CryptoCompare, the downward movement of cryptocurrencies occurred following the postponement of a bitcoin exchange fund (ETF) proposed by VanEck and Solid X. If approved, the 39; ETF would be the
Hayter described Monday's sales as "sales based on momentum following the backlash of the ETF" and "the usual rotations of a depressed mode market."
SEC's decision to delay a decision on the SolidcoX bitcoin trustee of VanEck Solid on September 30 followed the regulator's refusal of an ETF proposal separate from the Winklevoss twins. Cameron and Tyler Winklevoss made a second attempt to list the actions of a bitcoin ETF, which would be based on raw materials.
Bitcoin has recently recovered its dominance in the market as different "altcoins" or alternative cryptocurrencies, have plummeted in value. It is still, however, at around 70 percent the highest level of all time, close to the $ 20,000 recorded at the end of last year.
– Kate Rooney of CNBC contributed to this report.