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Crypto Market Drops $14 Billion Amid ETF Rejection

An Expected drop in the market witnessed amid ETF proposal rejection by SEC. This news has not been sudden, it was very much expected still crypto market highlights immatureness. Generally, $14 billion dumped out of cryptocurrency as total market cap dipped under $210 billion a couple of hours prior.

Bitcoin has dropped by around 3.8% on the day, back to $6,440 and exchange volume has plunged down $4 billion. Ethereum, which was not any better, has fallen much further, losing 4% to exchange at $275.

Not surprisingly, the altcoins are all in the red early today, some being hit harder than others are. In the top ten Stellar has endured the greatest shot losing 7% to fall back to $0.209. Not a long ways behind are EOS, Cardano and Monero all losing around 6%. The tie is climbing the market top graphs because of different cryptos persistently declining; USDT is currently at eighth spot, passing ADA, which has slammed more than 93% this year.

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