Daily crypto: Blood red markets – bitcoin falls more than ten percent

The crypto markets have lost value in the last 24 hours. At the time of writing, about 95 of the 100 biggest cryptocurrencies show red numbers.

Graph of the total market cap for all cryptocurrencies over the last 24 hours. Image source: Coinmarketcap

The market cap for all cryptocurrencies has dropped $26 billion in the last 24 hours – from $209 billion yesterday to $183 billion today. What caused these falls is still not clear. On the internet forum Reddit, several people speculate that there are financial institutions and so-called “whales”, big players, who manipulated prices for the crypto markets.

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Xrp is now second biggest

Looking at the biggest cryptocurrencies, all of them have lost in value over the last 24 hours. Bitcoin cash (-18,08%), ethereum (-14,22%) and bitcoin (-11,37%) have lost the most, but also xrp (-9,15%) and stellar (-9,52%) have lost in value over the last day.

The cryptocurrency xrp (-9,15%) currently has a market cap of $18.51 billion. This market cap means that xrp has passed ethereum (-14,22%) to be the second biggest cryptocurrency. Ethereum currently has a market cap of $18.29 billion, according to Coinmarketcap.

The cryptocurrencies on top 100 that performed the best during the last 24 hours were nasdacoin (+299,15%) and insight chain (+5,32%), and those who performed the worst iost (-23,94%) and hypercash (-22,25%).

Nasdacoin (+299,15%) increased under low trading volume and without any major news. This makes some speculate that it might be a so-called “pump and dump”.

*All numbers in this article are from Coinmarketcap.com.

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