MENU

Crypto update: Bitcoin (BTC), Ripple (XRP), and Litecoin (LTC) plunge lower

Unfortunately for crypto traders the rebound in cryptocurrency prices has been short-lived and heavy declines have been seen across the board overnight.

This has reduced the market value of the entire market to US$260 billion, down 8% since this time yesterday.

Here is the state of play on Thursday morning:

The bitcoin (BTC) price has fallen almost 8% over the last 24 hours to US$6,909.45 per coin. This has reduced the market capitalisation of the world’s largest cryptocurrency to US$117.2 billion. One catalyst for the decline could have been funding issues at the US-based Kraken exchange.

The ethereum (ETH) price has plunged 7.5% since this time yesterday to US$384.84 per token, leaving it with a market capitalisation of US$37.95 billion.

The Ripple (XRP) price has tumbled over 7% during the last 24 hours to 50.64 U.S. cents. The popular altcoin now has a market capitalisation of US$19.8 billion.

The Bitcoin Cash (BCH) price has dropped 8.5% since this time yesterday to US$652.61 per token. The bitcoin spin-off now has a market capitalisation of US$11.1 billion.

The Litecoin (LTC) price has gone from being the best performer yesterday to the worst performer today. LTC is down almost 11.5% since this time yesterday to US$118.55 per coin, reducing its market capitalisation to US$6.6 billion. The altcoin hasn’t been able to hold onto yesterday’s gains that came after an American Express-backed startup revealed it was using Litecoin’s technology.

Outside the top five the declines were just as heavy with EOS (EOS), Cardano (ADA), Stellar Lumens (XLM), NEO (NEO), and IOTA (MIOTA) all down sharply. The worst performer of the bunch was the Stellar Lumens price which is down almost 11.5% over the last 24 hours. It rose strongly last week after IBM revealed that it is using its technology. Profit-taking could be weighing heavily on its price today.

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We're living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That's why at The Motley Fool we've been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

We've found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.