Bitcoin is trading below $3500, $16 billion gone in crypto market

07 Dec, 2018 | Updated: 07 Dec, 2018
by Jelmer van der Dussen
Bitcoin is trading below $3500, $16 billion gone in crypto market

It's another day of red in the cryptocurrency market with Bitcoin dropping over 10,60% in the last 24 hours. $BTC is trading for $3434 at the time of writing.

Another $18 billion of the total crypto market cap got wiped out during the last day, although a slight recovery has put the damage at $16 billion right now. The rest of the market is following closely or is performing even worse than Bitcoin. In the top 10, XRP lost 10%, Ethereum 15%, Stellar close to 16% and Bitcoin Cash 12%.

Read more: Is Bitcoin dead? 8 reasons why it is NOT

EOS is the worst performer of the top 10 with a loss of 21%. Bitcoin SV, the Bitcoin Cash fork, is performing surprisingly good, gaining 17%.

Read more: BCH SV has seen a double flippening- overtaking BCH ABC and Tether

There are some other good performers in the top 100 today. XYO Network just entered the top 100 after a 27% growth on a red day. Stablecoins are popular again as well, with Gemini Dollar, Paxosm True USD and USD Coin all trading for $1,01.

VIDEO: Where will Bitcoin bottom out?

Read more: 9 Ethereum price predictions for 2019 by crypto experts

The worst performers in the top 100 are Factom (-32%), Polymath (-28%), IOST (-23%) and Waves (-22%).

The total cryptocurrency market is now valued at $108 billion, the lowest point since the beginning of August 2017.

Read more: 9 Bitcoin price predictions for 2019 by crypto experts

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