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Crypto update: Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, and Litecoin sink lower

The crypto market has had a disappointing start to the week. After pushing notably higher over the weekend, many of the leading cryptocurrencies have given back a lot of their gains.

This has left the entire market with a value of US$382.3 billion according to Coin Market Cap, down 2.5% since this time yesterday.

Here is the state of play on Tuesday morning:

The Bitcoin (BTC) price has fallen 1.2% over the last 24 hours to US$8,429.67 per coin, reducing its market capitalisation down to US$143.7 billion. Bitcoin and the rest of the top five took a hit yesterday after legendary economist Robert Shiller warned on his blog that cryptocurrencies mirror some failed currency experiments of the past.

The Ethereum (ETH) price has tumbled 3% since this time yesterday to US$699.03 per token. This leaves Ethereum with a market capitalisation of US$69.5 billion.

The Ripple (XRP) price has fall 2.9% over the last 24 hours to 68 U.S. cents, giving the popular alt coin a market capitalisation of US$26.7 billion.

The Bitcoin Cash (BCH) price has been the worst performing major coin over the period with a 4.1% decline to US$1,243.97. This reduces its market capitalisation to US$21.3 billion.

The EOS (EOS) price was not far behind with a 4% decline during the last 24 hours to US$13.49. This leaves EOS with a market capitalisation of US$11.7 billion.

Once again, outside the top five it was a similar story with Litecoin (LTC), Cardano (ADA), Stellar (XLM), and IOTA (MIOTA) all down around 3% or more.

Only TRON (TRX) in the top ten was higher during the period. It climbed a sizeable 5.7% to 8.2 U.S. cents. Traders have been snapping up all the TRX they can get hold of ahead of its mainnet launch on May 31. That launch will see TRX leave the Ethereum network to go it alone on its own network.

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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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