Cryptocurrency Market Capitalization Falls More than $8 Billion
The cryptocurrency market capitalization has abruptly fallen $8 billion in just a few hours and several digital assets have changed their relative positions in the top 10. When Bitcoin (BTC) seemed to be operating stable close to $4,050, the popular digital asset dropped more than 5% in less than two hours, reaching $3,840.
The whole cryptocurrency market followed immediately after. The most important digital assets in the market are currently falling. Ethereum (ETH) is losing 8.61% in 24 hours and XRP is down 3.29%. For just a few minutes, XRP recovered the second position in the market, surpassing Ethereum. However, the Ripple Coin XRP couldn’t sustain this spot for a long time, Ethereum has once again a market cap $4 million dollars larger than XRP. The distance between these two assets remains too small, so anything can happen.
Bitcoin Cash (BCH) seems the most damaged digital asset among the top 15. It lost more than 11% of its value in just a few minutes, similar to what happened to other cryptocurrencies. Nevertheless, it still remains the 4th largest cryptocurrency by market capitalisation. Each BCH can be purchased for $143.
EOS, Stellar Lumens (XLM) and Litecoin (LTC) are also behaving negatively. They lost 3.59%, 4.63% and 8.62% respectively. Stellar Lumens surpassed Litecoin once again in the market. These two digital assets were competing against each other to retain the 6th position.
Tron is the big winner. Tron (TRX) increased 15.53% in the last 24 hours, and it’s the largest winner among the top 100. The drop did not affect Tron that seems to keep growing even when other digital assets are losing more than 10% of their value. This shows how strong the fundamentals behind this cryptocurrency are.
There are many developments that could change the future of this coin and the future of the digital currency space. At the time of writing, Tron has a market capitalization of $2.04 billion. If it keeps growing, it could eventually surpass Litecoin, with a market capitalization of $2.17 billion. In the last few days, Tron surpassed Bitcoin SV (BSV) and Tether (USDT).
Bitcoin SV is currently falling 7.7% and has a market capitalization of $1.42 billion. If it keeps falling stronger than Cardano (ADA), ADA could reach the top 10 in the near future.
Meanwhile, the whole market capitalization dropped more than $8 billion in just a few minutes falling from $138.43 billion down to $129.74 billion.