Cryptocurrency markets are seeing red in a big way as the ongoing rout has wiped away billions of dollars in value.
As CoinDesk reported earlier Wednesday, the collective market capitalization for all cryptocurrencies hit a new low for the year – as it stands, the overall market cap is roughly $225 billion, representing a significant decline from the more than $800 billion witnessed in early January of this year.
Among the developments driving the market turmoil: the fact that the U.S. Securities and Exchange Commission (SEC) decided to punt a decision on a proposed bitcoin exchange-traded fund.
According to figures compiled by CoinDesk, as much as $51 billion in market cap was lost during the past seven days. CoinMarketCap figures indicate that as much as $30 billion or more in value was shed amid the day’s market action.
This amount indicates a more than 18 percent decline within that time frame.
But the market capitalization data only tell part of the story.
Perhaps most tellingly, all of the top twenty cryptocurrencies (indicated on sites like CoinMarketCap as well as OnChainFX), showed significant declines in the past 24 hours, accounting for an average loss of more than 14 percent during that period.
For bitcoin specifically, the past days haven’t been exactly forgiving either.
The cryptocurrency has seen losses for ten out of the last eleven days – a series of events that have not occurred since September 2014.
Today’s low represents a depreciation of 26.28 percent endured over the bearish stint. As a result, over 80 percent of the recent rally from bitcoin’s annual low has evaporated.
In sum, bitcoin’s price rallied $2,705 from June 24th to July 24th, over $2,000 of which has since disappeared, according to data from Bitfinex.
Image via Shutterstock
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
This article is intended as a news item to inform our readers of various events and developments that affect, or that might in the future affect, the value of the cryptocurrency described above. The information contained herein is not intended to provide, and it does not provide, sufficient information to form the basis for an investment decision, and you should not rely on this information for that purpose. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.
Join 10,000+ traders who come to us to be their eyes on the charts, providing all that’s hot and not in the crypto markets.
Author: Stan Higgins
Source link
Don’t wear seat belts lest you drown in your own urine?
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Don’t wear seat belts lest you drown in your own urine?
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Don’t wear seat belts lest you drown in you own urine?
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
With thanks! Valuable information!
Don’t wear seat belts lest you drown in your own urine?
With thanks! Valuable information!
Black on black in the Charger I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Don’t wear seat belts lest you drown in you own urine?
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
With thanks! Valuable information!
With thanks! Valuable information!
Don’t wear seat belts lest you drown in your own urine?
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
With thanks! Valuable information!
With thanks! Valuable information!
With thanks! Valuable information!
With thanks! Valuable information!
Don’t wear seat belts lest you drown in your own urine?
Black on black in the Charger I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
With thanks! Valuable information!
With thanks! Valuable information!
Don’t wear seat belts lest you drown in your own urine?
Don’t wear seat belts lest you drown in you own urine?
Don’t wear seat belts lest you drown in your own urine?
Don’t wear seat belts lest you drown in you own urine?
Don’t wear seat belts lest you drown in you own urine?
Don’t wear seat belts lest you drown in your own urine?
With thanks! Valuable information!
Don’t wear seat belts lest you drown in your own urine?
Don’t wear seat belts lest you drown in you own urine?
Don’t wear seat belts lest you drown in you own urine?
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
With thanks! Valuable information!
Don’t wear seat belts lest you drown in you own urine?
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Black on black in the Charger I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Black on black in the Charger I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
With thanks! Valuable information!
Don’t wear seat belts lest you drown in your own urine?
With thanks! Valuable information!
Don’t wear seat belts lest you drown in your own urine?
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Black on black in the Charger I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Black on black in the Charger I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Don’t wear seat belts lest you drown in you own urine?
Don’t wear seat belts lest you drown in your own urine?
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
Black on black in the Charg I’m creepin’ Rub me the right way, you might get a genie B.o.B, black Houdini
With thanks! Valuable information!
stila 【其他】銀緻六色盤 refillable 6 pan compact的商品介紹 UrCosme (＠cosme TAIWAN) 商品資訊 stila,其他,銀緻六色盤 refillable 6 pan compact，有網友推薦最新1
If you can judge a squad by the quality of the players left out then Spain will win the Euros for the third time in succession in France; Vicente del Bosque has sent home a number of star men. Vicente del Bosque taking no-one carrying so much as a knock to Euro 2016 as Spain boast embarrassment of riches for France
Leicester City are set to announced Fousseni Diabate as their newest signing following his £4.4million move from Ligue 2 side Gazelec Ajaccio. Leicester City set to confirm capture of Gazelec Ajaccio striker Fousseni Diabate in £4.4million deal
Luke Young insists Aston Villa now have a ‘stronger mentality’ to cope with any setbacks and to avoid a repeat of last season’s disappointing fade-out in the Premier League. We’re stronger this season: Luke Young says Aston Villa are better equipped for top-four challenge
LAURIE WHITWELL: The summer pursuit of Michael Keane is set to intensify after the centre back produced an impressive England debut against Germany, with Liverpool hardening their interest. Liverpool stepping up pursuit of Michael Keane as Burnley defender puts in impressive performance during England’s defeat against Germany
I’m not sure exactly why but this web site
is loading extremely slow for me. Is anyone else having this problem or is it
a issue on my end? I’ll check back later on and see if the problem still exists.
Fantastic beat ! I wish to apprentice whilst
you amend your web site, how could i subscribe for a blog website?
The account aided me a appropriate deal. I were a little bit familiar
of this your broadcast provided bright transparent idea
I truly love your website.. Very nice colors & theme. Did you build this amazing site yourself?
Please reply back as I’m hoping to create my own website and want to know where you got this from or what the theme
is called. Thanks!