The markets saw a massive downturn in the last market with main currencies getting hit bad by the market hard in the past day. The major currencies were buoyed by their strengths as their losses were mitigated to 8% for the BitCoin. The second largest currency, Etherium had it worse with a 14.6% loss for the day.
The BitCoin fell the second straight day from an intraday high of $4,210 to $3,800 yesterday. Today, Bitcoin has been hovering around the $3800 mark.
The Ethereum moved from a high of around $150 yesterday to an intra-low of $135 today. For the week, Ethereum is for all intents and purposes breaking even with a gain of 0.2% in that span.
The losses of Ethereum is echoed by the largest digital currencies across the board. The EOS lost 16.2%, Bitcoin Cash lost 14.6%, Litecoin fell 13.6%, and Stellar with 10.8% drop and the Ripple lost 9.4% for the day.
The biggest gains of the day comes from smaller currencies with the largest being Enjin Coin with a market cap of over $99 million and gains of over 130%. Ripio Credit Network or RCN currency with a market capitalization short of $11 million and an increase of 51.98%.
As of press time, the market capitalization of cryptocurrencies are still hefty at $129.2 billion presence as of this writing. However, there is a significant shrinking of capitalization compared to the intra week high of $143.9 billion. A drop of close to 15 billion.