Don’t look now, but your cryptocurrency portfolio might be down, oh about 20% since yesterday.
And it’s not just Ether. With the exception of, all other coins in the top 10 are down for the day as well: (-16%), (-14%), (-16%), (-22%), (-15%), (-19%), (-18%), and (-11%).
The plunge has taken the total cryptocurrency market capitalization (the combined values of all cryptocurrencies tracked by CoinMarketCap) all the way down to $852 billion. Earlier this month, that figure had moved north of $1 trillion.
Ethereum has fallen 15 spots to #87 in market cap when compared to stocks and other cryptocurrencies, according to Asset Dash. Bitcoin has tumbled to #12.
Financial analysts have been speculating about whether crypto was a bubble ready to pop. With today’s correction, however, Ether remains priced much higher than it was at any point in 2020. It ended the year at $735.
News Source from Decrypt.co