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.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…

Including:

The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!