Crypto Market Hit By Strong Losses, Bitcoin and Ethereum Suffer Major Loss

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Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

In last days, the crypto market has taken a renewed plunge, among the top 100 cryptocurrencies, the top 15 currencies are falling down badly.

Bitcoin (BTC) has seen a more moderate loss of around 4 percent on the day, and is trading at $3,605 to press time. Having hit intra-week levels as high as around $4,230 on Dec. 23, the top coin’s renewed downturn have all but reversed recent gains and Bitcoin is back trading close to its value mid-December.

Bitcoin’s losses remain a mild 2.4 percent on the week and 3.6 percent on the month.

The second-largest cryptocurrency by the coinmarketcap Ripple (XRP) is down over 5 percent on the day. In an intraweek spike to $0.45 on Dec. 23, Ripple has mostly been trading range-bound between $0.35 – $0.39. 

 

Whereas Ethereum is falling down by 7 percent trading at $119 at coinmarketcap. Following intra-week highs of over $150, the alt has virtually come full circle on the week, reversing recent growth.

Among the top ten coins on CoinMarketCap, Bitcoin SV (BSV) has shed close to 11 percent on the day to trade at $83.20. EOS (EOS), Stellar (XLM) and Litecoin (LTC) have all shed 6-7 percent on the day.

Among the top twenty, Ethereum Classic (ETC) and Nem (XEM) are down the most, shedding 8.3 and 9.2 percent at $4.82 and $0.06 respectively.  

 

 

Dash (DASH), Cardano (ADA) and Tron (TRX) are all down over 7 percent — the strongest 24-hour performer is IOTA (MIOTA), which is down a milder 3.8 percent on the day at $0.31.

source: CoinMarketCap

Total market capitalization of all cryptocurrencies is at around $120.4 billion accordingly and it went down from an intraweek high of over $146.5 billion on Dec. 24.

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