Unfortunately for crypto traders, it has been another disappointing 24 hours of trade for the cryptocurrency market.
At the time of writing the value of the entire market has fallen to US$393.5 billion according to Coin Market Cap, down 3.7% since this time yesterday.
Here is the state of play on Wednesday morning:
The Bitcoin (BTC) price has fallen 2.9% over the last 24 hours to US$8,547.80 per coin, reducing its market capitalisation to US$145.6 billion. The raid on South Korea’s largest crypto exchange, UPbit, continues to weigh heavily on trader sentiment.
The Ethereum (ETH) price is down 3% during the period to US$714.00, leaving it with a market capitalisation of US$71 billion. News that CME Group has launched an Ethereum Index has not been enough to support its price.
The Ripple (XRP) price is off 5% since this time yesterday to 70.9 U.S. cents. This has reduced Ripple’s market capitalisation to just under US$27.8 billion.
The Bitcoin Cash (BCH) price has tumbled 6.8% over the last 24 hours to US$1,355.87 per token, reducing its market capitalisation to US$23.2 billion. Bitcoin Cash successfully upgraded overnight, increasing its block size to a sizeable 32MB. This will allow it to handle more transactions than many of its peers and increase its appeal for real world use.
The EOS (EOS) price has been the worst performer in the top five during the period, falling 7.8% to US$13.22. This leaves EOS with a market capitalisation of just over US$11.3 billion.
Outside the top five the declines have been just as heavy over the last 24 hours. Litecoin (LTC) fell 6.4%, Cardano (ADA) is down 4.5%, Stellar (XLM) is 5.4% lower, and TRON (TRX) is down 6.4%.
The only cryptocurrency in the top ten to push higher was IOTA (MIOTA), which is up 1.9% since this time yesterday.
- Top brokers name 3 shares they rate as buys
- Turning $10,000 into $8 million Was Just the Beginning For 1 Man
- 3 blue chips with big dividend yields
- Is ANZ Bank a buy for its 8.5% grossed-up yield?
- Here are the 10 most shorted shares on the ASX
- 6 top shares I'd buy now
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.