Price drops across crypto after SEC announcement

26 Jul, 2018
by David Borman
Price drops across crypto after SEC announcement

After an exciting beginning to the week and some healthy consolidation, the crypto market took a hit today, seemingly in response to the SEC announcement on a BTC ETF.

Market Cap / BTC Dominance

Total market capitalization was holding just above $300 billion and few of the top coins had seen more than 1-2% change in the last 24 hours. After the announcement, market cap was down to $291,679,484,649 in just minutes. BTC dominance has been largely unaffected so far, still approximately 47%.

Bitcoin (BTC) - $7,985.59 (-3.04%)

BTC had seemingly found support at about $8200, but is currently around $7,985.59.

Top 10

Almost all coins in the top 10 had moved less than 2% in the last 24 hours, the exceptions being Stellar Lumens (XLM) and IOTA with a relatively impressive gains. Now even XLM is down (-10.53%) and IOTA has only small growth (+2.11%)

Outside of the top 10, VeChain is still having a pretty good day, with +18.82% growth after an announcement by Binance of an airdrop of 100 million VTHO tokens.

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