Home » Crypto market update: Bitcoin and most altcoins start sell-off
Cryptocurrency

Crypto market update: Bitcoin and most altcoins start sell-off

crypto

After a brief period of consolidation, pioneer cryptocurrency Bitcoin and major altcoins continued the bear movement on Sunday. The coins in the top 20 experienced losses ranging from 1.5% to 5% on a daily basis. The current market cap of all virtual assets in circulation dropped from $254 billion to $249 billion on Saturday. However, the average daily trading volume fell to $55 billion amid increasing volatility on the market.

Overview Of The Top 3 Coins

BTC/USD fell to $7,730, losing more than $200 of its value in minutes. For now, the cause of the massive sell-off is still unknown, a strong drop below $7,800 mark has aggravated the short-term technical picture. Right now, Bitcoin is hovering in the range of $7,770, it fell 2.5%.

Ethereum, the second biggest digital asset with the current market cap of $25.6 billion, dropped below the $240 mark after an initial effort to go beyond $245. Ethereum has lost more than 3.6% in just 24 hours, which is in sync with what’s going on in the market.
Ripple’s XRP hovered above $0.40 despite massive sell-off all through Sunday. The 3rd largest coin with the current market cap of $17.1, has lost about 3.5% as at this time on Saturday.

The Biggest Market-Movers


The worst performing cryptocurrency is NEO, with almost 5% of losses in about 24 hours. The 18th largest crypto with the current market cap of $823 million is being traded off at $1.69 but with a bearish bias.

TRON (TRX) is another big loser today. The 12th largest crypto coin with the current market cap of $2.1 billion has lost more than 4.5% in 24 hours, now it’s traded at $0.0317.

Source: https://www.fxstreet.com/cryptocurrencies/news/cryptocurrency-market-update-bitcoin-and-major-altcoins-resume-the-sell-off-201906091303

About the author

Jo Arazi

Jo Arazi

Jo is a seasoned writer and analyst of the cryptocurrency market with several years of experience writing for various blogs and websites worldwide. He has worked with several crypto startups and is a supporter of credible crypto projects worldwide.

Add Comment

Click here to post a comment

The following GDPR rules must be read and accepted:
This form collects your name, email and content so that we can keep track of the comments placed on the website. For more info check our privacy policy where you will get more info on where, how and why we store your data.