Markets Update

Cryptocurrencies Continue to Suffer From Deep Losses

Star InactiveStar InactiveStar InactiveStar InactiveStar Inactive

It’s been a tough week for cryptocurrency holders, as the top 10 virtual currencies by market capitalization have lost 30% to 60% of their value over the past seven days. Prices this low have not been seen since the spring of 2017 and at the moment the entire economy of all 2000+ coins has a market valuation of about $128 billion.

Over $60B Lost During the Last 7 Days

A lot of cryptocurrency enthusiasts have been using words like “carnage,” “bloody” and “capitulation” to describe the recent cryptocurrency market downturn. The top digital asset markets show deep losses for nearly every single cryptocurrency besides stablecoins. Trade volume has increased since the slump, but only by a few billion, as global trade volume is currently hovering around $18.5 billion.

Bitcoin core (BTC) markets dipped to a low of $3,475 on Nov. 24 but managed to rebound a hair back to the $3,817 range where it rests today. BTC’s spot value is down 11% today and 31.8% over the last seven days. Ripple (XRP) markets currently hold the second-highest valuation but markets are down 14.4% today and 32.6% since last week. One XRP is trading for $0.34 per coin and ripple’s market capitalization is $13.9 billion. Ethereum (ETH) has lost 9.9% over the last 24 hours and 37% since last week and the price per ETH today is $110. Lastly, the fifth-largest market valuation is held by eos (EOS), with the token trading for $3.24. EOS values have lost 9% in the last day and have seen losses of around 29% over the last week.

© 2018 All Rights Reserved.