Cryptocurrency Markets are having a tough time, with major losses across most of the top 50 coins to start the day Wednesday, Jan. 10.
The total market capitalization of all cryptocurrencies is down from $800 bln on Jan. 7 to around $709 bln Jan. 10.
The main exception seems to be Ether (ETH), which is seeing almost 10 percent growth over the past day, selling at an average of $1300 at press time. Ether is one of only two coins from the top ten that are in green this morning, joined by Bitcoin Cash (BCH), which is up almost 5 percent.
Ripple (XRP), the so-called cryptocurrency of banking, which showed an unprecedented growth rate starting in mid-December 2017 is recent times leading the crumbling pack with almost 17 percent losses in the past 24 hours.
Ripple was trading at an average over $3 on CoinMarketCap last week, before the price tracking site removed three major South Korean exchanges from their price calculations on Monday Jan. 8. The move made the coin’s price appear to drop 30 percent and put it in third place on the market. Perhaps due in part to panic selling after Ripple’s sudden apparent drop, the altcoin has continued to fall, trading at an average of $1.95 at press time.
On the 8th spot, Stellar Lumen’s price has dropped almost 13 percent to $0.54. In the same vein, Cardano is at the receiving end of the ongoing market depression, also falling almost 13 percent and bringing price from over $1 to the $0.75 zone.
New Economic movement (NEM) wasn’t spared either, succumbing to an 11 percent decay and trading at $1.45 at press time.
Dash has made it back into the top 10 coins, pushing the TRON, the altcoin that broke into the top ten last week, back to 12th place.
In suit was the Silver of Cryptocurrency, Litecoin, which lost a relatively low 2.2 percent over the past 24 hours, currently selling at $242.
IOTA is now at the 9th position and posted a negative 5.84 percent along with a price of $3.45. Market leader Bitcoin has yet to fully recover from its downward trend since late December. At press time it was down 4.2 percent with a market price just over $14,000.