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Cryptocurrency Market Down 12% Since Sunday

Cumulative market cap of all cryptocurrencies (including both coins and tokens) lost 12% in three days.

What happened

Cumulative market cap of all cryptocurrencies (including both coins and tokens) lost 12% in three days: from $822.4 billion on Sunday, January 7, to $724.3 billion at the end of Wednesday, January 10, according to the data from the Coinmarketcap.com.

Cryptocurrency Market Capitalizations
Cryptocurrency Market Capitalizations ©Yoken

What drives the decline

Top three coins – Bitcoin, Ether and Ripple – are all in the red zone over the past 24 hours. However, for ETH it’s a slight setback after an active growth over the past week. Bitcoin, the market leader, is still on a down trend since December 2017, trading below $15K.  

WAX, DeepBrain Chain and Storm have seen the biggest declines in the past 24 hours – all dropped by around ¼ of their price.

Any growth signs?

VIBE gained almost 389% in the past day. Strong growth trends are shown by VeChain (37.5%), Augur (21.7%) and Bitcoin Cash (20%). In the top 10, IOTA and TRON managed to stay in green zone.

What can we learn from it

  • The market is cooling down after the major up and down movements across the biggest cryptocurrencies in December.
  • Altcoins, driven by Ether and Bitcoin Cash, continue to gain traction, while Bitcoin is yet to recover after the price drop at the end of 2017.
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