Cryptos Fall to a New Low – Trustnodes

Cryptos Fall to a New Low


Almost all cryptos are down today another 5% or 10% with the combined market cap reaching a new low for the year, down to $239 billion.

Trading volumes are slightly down today as well to $13 billion, but much of it has been one way with the six months long selling still continuing.

Global crypto market cap, June 2018.

Looking at the top cryptos, one finds a striking sight. While bitcoin and eth still have a somewhat decent market cap, Ripple looks very thin indeed.

Bitcoin Cash, even thinner. While Tether, for the first time, briefly made it to the top ten with their market cap apparently having only an upwards direction regardless of whether cryptos rise or fall.

Top cryptos currently.

Only 18 cryptos now have a market cap above $1 billion, and just 12 have a market cap above $12 billion.

There are now just four cryptos with a market cap above $10 billion, with Ripple being one of them, now having a market cap of $18 billion, down some 90% from its high of $150 billion.

Bitcoin Cash is the other one. That has fallen from a high of $65 billion and now risks falling below $10 billion, which would be a first since it first rose above it.

Ethereum has fared slightly better, falling from $138 billion to now stand at $45 billion with the world computer currency not seeing a bull run of its own since spring 2017.

Finally, bitcoin managed to reach a market cap of $335 billion. Now risks falling below $100 billion for the first time since it reached that level.

The combined crypto market cap rose to $830 billion in December. Now stands at less than $250 billion with the 2017 bull run so giving way to a bear parade.

How much longer this will go remains to be seen, with despair seemingly settling in as bull euphoria gives way to bears summer dipping.



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