Crypto Market Decline Aggravates as Ripple and Ethereum Hit Yearly Lows

The market is down $25 billion from yesterday’s high of $219 billion, sliding to $193 at the time of writing.

Altcoins have been hit hard with Ethereum down almost 18% overnight according to coinmarketcap.com and hitting lows not seen since August 2017, now trading at $264. Ripple is also at a yearly low, down 14.33% to trade at $0.26, a value not seen since last December. XRP is down 92% from its all-time high of $3.37 making it one of the hardest hit altcoins in the top ten by market cap. Bitcoin Cash and EOS are also down 16% percent today, and Cardano has taken a 20% hit making it the biggest loser in the top 10 over the last 24 hours.

The biggest losses in the top 100 were seen by Ark, ICON, and Wanchain with losses of 30.5%, 29.05%, and 27.97% respectively. A currency ranked no. 886 named Inflation Coin is ironically down 92% from yesterday, and a handful of relatively obscure currencies are also trading higher than yesterday.

Bitcoin is also at its lowest since October 2017, almost testing the $6,000 mark at $6,040 although it is one of the least affected currencies over the last 24 hours, down over 6.5% from yesterday. The only currency to take a smaller hit was Cryptonex at no. 66 on coinmarketcap along with 2 stablecoins, Tether and TrueUSD.