The cryptocurrency market is a sea of red; nearly $80B wiped out in less than 24 hours

  • Bitcoin is hovering around $11,000 after a strong sell-off.
  • Binance Coin is the best from the worst with only 3% of losses.

Cryptocurrency market lived through a volatile day as Bitcoin (BTC) went from $13,000 to as low as $10,000 in less than 12 hours. Altcoins experienced double-digit losses, following the lead of the first crypto-asset. An anti-risk sentiment spurred by the exceptional volatility, exacerbated the sell-off. The total market capitalization dropped from the recent high of  $387 billion to $319 billion; an average daily trading volume settled at $119 billion. Bitcoin’s market dominance dropped to 62%.

Top-3 coins  price overview

BTC/USD is changing hands marginally below $11,000 handle, having lost nearly 14% since this time on Thursday. The first digital coin is range-bound during early Asian hours after a period of strong volatility.

Ethereum, the second largest digital asset with the current market capitalization of $31.4 billion, has settled at $295. The coin attempted to recover above $300 handle but failed to hold the ground. ETH/USD has lost over 12% in recent 24 hours.

Ripple’s XRP is under pressure in Asia. The third largest coin with the current market capitalization of $17.2, has lost over 12% since this time on Thursday and over 1% since the beginning of the day. At the time of writing, XRP/USD is changing hands at $0.4005.

The biggest altcoin market-movers

Bitcoin Cash (BCH) is the biggest loser of the day among top-20 altcoins. It has lost over 15% of its value in recent 24 hours to trade at $406.77 by the time of writing.

Binance Coin (BNB) is the best from the worst. The coin is down only 3% in recent 24 hours, which looks like a victory among other altcoins with double-digit losses. At the time of writing, the coin is changing hands at $33.80.

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