RATE Group | Cryptocurrencies lose $640 billion from January peek; Bitcoin’s biggest rival Ethereum l…
41805
wp-singular,post-template-default,single,single-post,postid-41805,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Cryptocurrencies lose $640 billion from January peek; Bitcoin’s biggest rival Ethereum l…

10 Sep Cryptocurrencies lose $640 billion from January peek; Bitcoin’s biggest rival Ethereum l…

Posted at 09:49h in Ethereum News by

[ad_1]

Cryptocurrencies remained under pressure on Monday despite reports that Citigroup Inc. has developed a new mechanism for investing in the space.

The cryptocurrency bear market plumbed a fresh 10-month low, led by a tumble in Bitcoin’s biggest rival. Ether slumped 9.5 percent from its level at 5 p.m. New York time on Friday, according to Bloomberg composite pricing. Bitcoin lost 2.5 percent, while the market capitalization of digital assets tracked by CoinMarketCap.com shrank to $197 billion, down about $640 billion from its January peak.

Cryptocurrencies have declined for five of the past six weeks amid concern that a broader adoption of digital assets will take longer than some had anticipated. That worry was underscored over the weekend after the U.S. Securities and Exchange Commission temporarily suspended trading in two securities linked to cryptocurrencies and Ethereum co-founder Vitalik Buterin told Bloomberg that the days of explosive growth in the blockchain…

[ad_2]

Source link