It has been another disappointing 24 hours of trade for the cryptocurrency market and a sea of red can be seen across the top ten.
This has led to the entire value of the crypto market falling 1% since this time yesterday to just below US$286.3 billion according to Coin Market Cap.
There doesn’t appear to be an obvious catalyst for the decline. I suspect it could just be bearish trader sentiment continuing to weigh on the performances of the coins following recent events such as the Bithumb hack in South Korea.
Here is the state of play on Friday morning:
The Bitcoin (BTC) price is down 0.5% over the last 24 hours to US$6,729.77 per coin. This has reduced the market capitalisation of the world’s largest cryptocurrency to US$115.1 billion.
The Ethereum (ETH) price has tumbled 1.6% since this time yesterday to US$526.13 per token, leaving ETH with a reduced market capitalisation of just over US$52.7 billion.
The Ripple (XRP) price has fallen 1.2% over the period to 53.25 U.S. cents. This leaves the popular alt coin with a market capitalisation of US$20.9 billion.
The Bitcoin Cash (BCH) price has dropped 1.5% since this time yesterday to US$873.60 per token. The Bitcoin offshoot has been left with a market capitalisation of US$15 billion after this latest decline.
The EOS (EOS) price is off 1% during the last 24 hours to US$10.36, reducing the alt coin’s market capitalisation to just under US$9.3 billion.
It was a similar story outside the top five with declines being printed by the rest of the top ten during the period.
This saw the Litecoin (LTC) price fall 1.3% to US$96.52, the Stellar (XLM) price slide 2.1% to 22.7 U.S. cents, the Cardano (ADA) price lose 2.2% of its value to 15.8 U.S. cents, the IOTA (MIOTA) price fall 0.7% to US$1.15, and the TRON (TRX) price give back some recent gains and fall 1.6% to 4.8 U.S. cents.
Did you miss the crypto boom from the start? Then don't miss out on this next boom that could be even bigger.
One of our investors has recently returned from a research trip to Silicon Valley... and has a warning for fellow investors:
Because he works for an organization dedicated to spreading great investing ideas, his video report is free today... so you can see it and decide for yourself.
Don't miss your chance click here to learn about this warning and how you might be able to profit!
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.