Cryptocurrency’ markets made a sudden move on Wednesday, bringing 9 of the top 10 cryptocurrencies in negative territory. The Ripple value hit the blow and dropped 20% to sink under the 2 USD mark, but XRP did not isolate the damage. Meanwhile, Ethereum continued to reach a record level, despite the weaker performance of broader markets.
In total, the combined value of all cryptocurrencies has raised more than 28 billion dollars, a 4% decline that lowered the cryptocurrency market cap to 700.3 billion dollars.
The Bitcoin price drops below 14,000 USD
The Bitcoin price recorded another disappointing comeback, after its weekend increases to 17,252 USD, down 6% to 13,789 USD on Bitfinex data sharing. Currently, Bitcoin’s global environment is over 14,000 USD, which translates to a market cap of 235.4 billion dollars.
The cost of Ethereum continues to float on a cumbersome market
The Ethereum value proceeded the nearly weekly trend of moderate growth as broader markets declined, and the second largest cryptocurrency soon exceeded 1,400 USD on several significant shifts. Currently, the Eterheum is traded at 1,281 USD per Bitfinex, which represents a 6% daily gain, and places Ethereum’s market limit at 125.6 billion dollars.
Ripple Price Plunge 20%
Ripple’s XRP, anywise, had no luck. Ripple price dropped 20% on Wednesday, which was the worst in the top 10 cryptocurrencies. At Bittrex, the Ripple value has fallen to a current of 1.89 USD, equivalent to the global average “except South Korea.” and Ripple now has a market cap of only 73.2 billion dollars, placing more than 50 billion dollars behind Ethereum in the race to conduct the second cryptocurrency assessment.
Highest Altcoins engage in almost complete withdrawal
Although the 20% drop in ripple was the worst of the top coins, its poor performance was far from being an isolated conclusion. Apart from Ethereum, each top cryptocurrency returned to a one-day decline, and various noticed that their wages dropped by two digits percent.
Bitcoin Cash value far exceeded the storm more than most, dropping only 1% to 2,346 USD. But, the Cardano value decreased by 15%, which was the second worst of the top 10 currencies. Litecoin controlled to stop the bleeding at 4%, which allowed him to fight fifth in the ranking away from NEM, whose price leaked by 13%.
Stellar, ranked eight, failed to take advantage of NEM’s unhappiness because its price dropped 14% to 0.53 USD. Also, IOTA and EOS did not do much better, lowering 6% and 5% to bring their amounts to the equivalent of 3.41 USD and 8.71 USD.
Dash, at the same time, fell by 4% but has successfully kept its price above its 1,000 USD psychological value.