The last few hours have been nothing but pain for the entire crypto market. Major coins are experiencing double-digit losses, with Bitcoin SV (BSV) taking the not-so-desirable lead with a massive hit of more than 34% on the day.
Altcoins prices are bleeding heavily, with some of the top-20 coins showing losses of more than 34% on the day.
The most popular altcoin Ether (ETH) has dropped over $50 in the last 24 hours to a price point of $156 per coin, recording a heavy loss of 24% on the day.
Ether 24-hour price chart.
XRP token dropped below the critical $0.25 price point, from an intraday high of $0.28, down to $0.234 in the span of one day, while showing a loss of 16%.
XRP’s 24-hour price chart.
Other top-20 coins that followed the massive exodus of cash are EOS, down 29% and Bitcoin Cash (BCH), down 24%. Cardano (ADA) and Tron (TRX), are both showing painful losses of around 23%.
Cointelegraph just reported that the world’s most popular crypto coin experienced its own flash crash from over $9,800 to $8,150 in less than a day and for the first time in months, which raises the question if traders could see Bitcoin’s price dropping further all the way down to $7,500.
At press time, there is no sign of altcoins stabilizing their prices.