Crypto update: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Stellar (XLM) slide lower

The cryptocurrency market has had a soft start to the week and declines are being seen in most major coins.

This has reduced the value of the entire market to US$445 billion according to Coin Market Cap. This is approximately 1.1% lower than this time yesterday.

Here is the state of play on Tuesday morning:

The Bitcoin (BTC) price has fallen 1.5% over the last 24 hours to US$9,436.85 per coin. This has reduced Bitcoin’s market capitalisation to US$160.6 billion. Trader sentiment in Bitcoin appears to have suffered slightly after Warren Buffett and Bill Gates spoke negatively about the cryptocurrency. On Monday Bill Gates told CNBC that he would short it if it were easy.

The Ethereum (ETH) price is off 2.6% since this time yesterday to US$763.73 per token, reducing Ethereum’s market capitalisation to US$75.8 billion. Rumours that US regulators are scheduled to discuss the most appropriate way to classify Ethereum may be weighing on its performance.

The Ripple (XRP) price has fallen 2.1% over the period to 84.6 U.S. cents. This has cut Ripple’s market capitalisation to just under US$33.2 billion. I suspect news that Ripple Labs has been hit with a class action could be causing the negative trader sentiment.

The Bitcoin Cash (BCH) price has dropped 2.5% lower over the last 24 hours to US$1,685.27 per token, reducing its market capitalisation down to US$28.8 billion.

The EOS (EOS) price has defied the market and has pushed 4.5% higher over the last 24 hours to US$18.23 per token. This has lifted the popular altcoin’s market capitalisation to just over US$15.3 billion.

Outside the top five there were declines for Litecoin (LTC), Cardano (ADA), Stellar (XLM), IOTA (MIOTA), and TRON (TRX). Stellar was the worst performing coin in the top ten over the last 24 hours with a 3.6% decline.

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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.

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