The crypto market is in meltdown and there is a sea of red on crypto markets after a sudden and sharp selloff.
At the time of writing the entire crypto market is worth US$390.7 billion according to Coin Market Cap, down 8.5% or US$35.7 billion over the last 12 hours.
Here is the current state of play:
The Bitcoin (BTC) price is down 7% over the last 24 hours to US$8,695.40 per coin, reducing its market capitalisation to US$148 billion.
The Ethereum (ETH) price is off 10% since this time yesterday to US$689.80 per token. This has cut Ethereum’s market capitalisation to US$68.5 billion.
The Ripple (XRP) price has crashed 15% lower over the last 24 hours to 68 U.S. cents, leaving it with a market capitalisation of US$26.6 billion.
The Bitcoin Cash (BCH) price has plunged almost 17% over the period to US$1,381.36 per token, reducing its market capitalisation to US$23.6 billion.
The EOS (EOS) price is also down almost 17% during the last 24 hours to US$15.08. EOS now has a market capitalisation of US$12.8 billion.
Outside the top five the declines have been just as severe.
Litecoin (LTC) is down 10%, Cardano (ADA) is off 18%, Stellar (XLM) has fallen 17%, IOTA (MIOTA) has tumbled 17.5%, and TRON (TRX) has dropped almost 17%.