Cryptocurrency market update: $10B erased from the market as bears take revenge
|- BTC/USD settled below $8,300 after a collapse to $8,000.
- Bitcoin SV is the biggest loser of the day, down 17%.
- Cosmos posts substantial gains despite the sell-off on the market.
Bitcoin and all major altcoins are navigating a sea of red on Friday morning in Asian with a notable exception of Cosmos. The total capitalization of all digital assets in circulation dropped to $264 billion, erasing over $10 billion in a matter of hours, while an average daily trading volume catapulted to $102 billion.
Top-3 coins price overview
- At the time of writing, BTC/USD is hovering around $8,250, down 5% on a day-to-day basis and mostly unchanged since the beginning of Friday. The largest digital asset experienced wild moves on Thursday, as a sudden growth above $9,000 was followed by a sharp sell-off towards $8,000.
- Ethereum, the second largest digital asset with the current market capitalization of $27.4 billion, is also locked in a bearish trend on Friday. The coin has lost nearly 9% in recent 24 hours to trade at $254 by the time of writing.
- Ripple's XRP settled under $0.4200 by the time of writing. The coin is down 8% on a day-on-day basis, moving in sync with the rest of the market.
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The biggest market-movers
- Bitcoin SV (BSV) is all over the place again. The coin has lost 18% of its value from this time on Thursday to trade at $188.00 at the time of writing. However, late on Thursday, the coin experienced a flash-crash from the recent high of $254.00 to as low as $44.00.
- Bitcoin Cash (BCH) is another big loser today. The coin has lost nearly 10% of its value in recent 24 hours to trade at $424.75 by press time.
- Cosmos (ATOM), the 16th largest cryptocurrency with the current market capitalization of $1 billion, is the only coin in the green today. ATOM has gained over 6% in recent 24 hours to trade at $5.5.
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