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

It has been another disappointing 24 hours of trade for the crypto market with just a couple of coins in the top 25 in positive territory.

This has led to a 3% decline in the value of the entire market since this time yesterday to US$268.5 billion according Coin Market Cap.

Here is the state of play on Thursday morning:

The Bitcoin (BTC) price is down 3% over the last 24 hours to US$7,519.76 per coin, reducing its market capitalisation to US$129.2 billion. Experts are blaming this latest decline on money being taken out of the market following the SEC’s rejection of the Winklevoss twins’ Bitcoin ETF application last week. It was rejected due to concerns over fraud and price manipulation.

The Ethereum (ETH) price has sunk 5.2% lower since this time yesterday to US$411.85 per token, leaving ETH with a market capitalisation of US$41.6 billion. It certainly wasn’t a happy birthday for Ethereum yesterday as it turned three with a heavy decline.

The Ripple (XRP) price has defied the market selloff and is up 1.4% over the period to 43.99 U.S. cents. This lifted the XRP market capitalisation to almost US$17.3 billion. News that Bill Clinton will be a keynote speaker at an upcoming Ripple conference appears to have had a positive impact on the XRP price.

The Bitcoin Cash (BCH) price is down 3.4% since this time yesterday to US$747.10, reducing the Bitcoin offshoot’s market capitalisation to US$12.9 billion. Like Ethereum, Bitcoin Cash was celebrating its birthday this week. It turned one on Tuesday and has fallen notably lower since.

The EOS (EOS) price has fallen 1.2% over the last 24 hours to US$7.20. This leaves EOS with a market capitalisation of US$6.5 billion.

It was much of the same outside the top five during the period. The Stellar (XLM) price is down 1.8%, Litecoin (LTC) is off 3.4%, Cardano (ADA) is down 3%, IOTA (MIOTA) is lower by 2.7%, and Tether (USDT) has fallen almost 0.1%.

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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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