Crypto update: Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, and Litecoin smashed

Unfortunately for crypto traders, the market has had a disappointing 24 hours of trade and heavy declines are being seen across the board.

This has reduced the value of the entire market by US$10.2 billion or 3.2% to US$292.3 billion according to Coin Market Cap.

The market appears to have responded negatively to news that the Winklevoss twins’ Bitcoin ETF has been rejected by the U.S. Securities and Exchange Commission.

The potential approval of a Bitcoin ETF had been a catalyst for the market’s recent rally, so traders are understandably on edge now and taking profit off the table.

According to CNBC, the U.S. Securities and Exchange Commission’s release on Thursday highlighted issues with security, market manipulation, and investor protection issues.

Here is the state of play on Friday morning:

The Bitcoin (BTC) price is down 3.2% over the last 24 hours to US$7,971.76 per coin, reducing the crypto behemoth’s market capitalisation down to US$136.9 billion.

The Ethereum (ETH) price has fallen 2.3% over the period to US$465.02 per token. This leaves ETH with a market capitalisation of US$46.9 billion.

The Ripple (XRP) price has dropped 2.6% since this time yesterday to 45.1 U.S. cents, leaving the alt coin with a market capitalisation of US$17.7 billion.

The Bitcoin Cash (BCH) price is down 4% over the last 24 hours to US$806.21, reducing the Bitcoin spin off’s market capitalisation to US$13.9 billion.

The EOS (EOS) price has fallen 3.8% since this time yesterday to US$8.30. This has left the fledgling alt coin with a market capitalisation of US$7.4 billion.

Outside the top five the declines were more severe over the period. The Stellar (XLM) price has fallen almost 10%, Litecoin (LTC) is down 3.8%, Cardano (ADA) has dropped 4.9%, and Tether (USDT) is down 0.1%.

The only coin in the top ten in positive territory is IOTA (MIOTA), which is up 2.1%. A partnership with the Audi think tank appears to have been the driver of this gain.

I suspect things could remain volatile for the next few days, which could make it a good time to look at other investment opportunities such as this one.

The Disruptors: 3 Revolutionary Tech 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 Atlassian.

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.

5 ASX Stocks for Building Wealth After 50

I just read that Warren Buffett, the world’s best investor, made over 99% of his massive fortune after his 50th birthday.

It just goes to show you… it’s never too late to start securing your financial future.

And Motley Fool Chief Investment Advisor Scott Phillips just released a brand-new report that reveals five of our favourite ASX stocks for building wealth after 50.

– Each company boasts strong growth prospects over the next 3 to 5 years…

– Most importantly each pays a generous dividend, fully franked.

Simply click here to find out how you can claim your FREE copy of “5 ASX Stocks for Building Wealth After 50.”

See the stocks now