At press time, the price of bitcoin, the market's largest asset, was trading below $14,000 according to the CoinDesk Bitcoin Price Index, up slightly from a daily low of $12,504.
Notably, this figure was more than 30 percent below an all-time high of near $20,000 reached on Sunday.
Whereas earlier this week bitcoin's decline coincided with an increase in the total value of the market as a whole, the value of all cryptocurrencies saw a reversal on Thursday, dropping roughly 25 percent from a high above $650 billion to a low of $480 billion today.
All told, only a few assets seem safe from what appears to be an exodus from the cryptocurrency markets, with Ripple's XRP, and relatively little-known ICO tokens for GameCredits and Electroneum, posting 24-hour gains.
Ripple's XRP cryptocurrency, which powers the company's open-source XRP Ledger, hit an all-time high above $1.30 yesterday, a figure that was up nearly 400 percent from its value at the beginning of the month, when it traded at just $0.25.
That's not to say there aren't inter-day gains to be had in the market.
CoinDesk data from Friday's morning trading session indicates that cryptocurrencies NXT and Bitcoin Dark both posted gains above 15 percent within the six-hour period, though they were the only assets to gain more than 2 percent.
Still, big losses were observed during the stretch as well, with Ripple's XRP down more than 12 percent for the window, and cryptocurrenices monacoin, TRON and RaiBlocks posting losses in excess of 15 percent.
Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Ripple.
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Crypto Market Sheds Billions as Top 100 Assets Down
Publicado en Dec 22, 2017
by Coindesk | Publicado en Coinage
Coinage
Noticias recientes
Ver todo
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.