Crypto Market Crashes, Bitcoin Down 9%, Ether - 7%
The crypto market crashed on Friday morning (UTC time) suddenly, erasing almost all its gains this week, before rebounding somewhat.
All major coins are in red now (04:14 UTC), while the absolute majority of tokens among the top 100 dropped by 10%-20% in the past 24 hours. The total market capitalization is down almost 10%, to USD 234 billion.
Bitcoin dropped almost 10%, ether lost almost 7%, while XRP, Stellar and Cardano are the biggest losers among the top 10 coins.
Top 10 coins by market capitalization:
According to Tuur Demeester, founder of Adamant Capital, a Bitcoin alpha hedge fund, and some other members of the cryptoverse, this flash crash was lead by selling on the Bitstamp exchange, where bitcoin price fell to as low as USD 6,178 before rebounding above USD 7,000 again.