Yesterday, the huge downfall in the crypto market has been drowning the value of all cryptocurrencies to their lowest levels till now for this current year. Total capitalization of the market is plunged drastically and reached back to the similar levels as in August 2017, expecting very fewer chances of futuristic hike in the crypto market.
Bitcoin value has extremely declined by almost 12% in the duration of just 24 hours. In the period of past one year since October 2017, the value of Bitcoin plunged below $5,000 for the first time. According to Coinmarketcap, a few hours back, Bitcoin touched to $4,843, its lowest value for the year 2018.
While Ethereum is slowly fading and Securities and Exchange Commission has charged again on two ICOs putting them in a panic condition. ETH value has declined by 13%, set below $150. The Ethereum was performing well during the accusation of ICO, so it seems to be the end of high-valued ETH.
During the Asian trading session, Altcoins are also slowly dropping. Bitcoin Cash was strongly hit by the Crypto Apocalypse with a great drop by 40% in 24 Hours, reaching the value to $230, which is the minimum value of BCH till it was launched.
Though the value of Stellar has fallen down by almost 6%, still, it has earned the 4th position in the market. Currently, XLM is trading at $0.229.
Ripple’s crypto exchange XRP has survived yesterday’s crash, with only marginal fall in the value. DigixDAO, as well as Maker’s currency value, are declined by more than 20%. Comparing the statistics for the past 3 months, XRP has generated 70% during the downfall of all other cryptocurrencies.
Total crypto market wealth has thrashed to a critical level with a fall-down of $20 Billion in 24 hours only. Further, the market was smashed down by 11% leaving total crypto capitalization around $160 Billion.
Stephen, having a background in the Business sector has recently joined the organization as an Intern. Having the skills to rightfully put the difficult facts and concepts into understandable and simple way has hit him in our team. In spare time, Stephen likes to keep tabs on the events, conferences, meetings of the well-known and budding personalities in the Business sector and put forth his viewpoints and opinions in her blog posts.