HOME CATEGORIES WRITE AND EARN 🔍
CATEGORIES WRITE AND EARN MORE

CRYPTO NEWS

Your favorite crypto news blog

Ethereum, Litecoin, EOS Crushed to 10-Month Low in Altcoin Rout

Altcoins 2019/12/17 09:15 by Martin Young
crypto ethereum bleeding

What has been a surprise today are the epic dumps by high cap crypto assets such as Ethereum, BCH, Litecoin, and EOS.


Altcoins Nearing Crypto Winter Lows

Total market capitalization has dumped by almost $10 billion over the past twelve hours or so. The plunge took crypto markets down to $186 billion, their lowest levels since early May bar the brief dip last month.

The calls for crypto winter and another final shakeout have intensified as markets run deep into the red today. They have been led by BTC which dropped almost 4% overnight in a fall to $6,850 before recovering slightly to trade just below $6,900.

Bitcoin has been there before but the altcoins have been literally crushed to multi-month lows.

Ethereum Eclipsed

Ethereum is in a bad shape with a 7% plunge below $130 according to Tradingview.com. The slide has sent the world’s second-largest crypto-asset back to support levels from March, nine months ago.

Ethereum

Further losses could result in ETH revisiting crypto winter prices below $120. It is hard to believe that anyone would be selling Ethereum at $130 yet it is happening. It would only be those that bought it last winter fearing a return to those levels selling right now.

There has been a lot of FUD and tribalism on crypto twitter recently with Ethereum getting more than its fair share of it as market cap dumps below $15 billion.

Ethereum is not alone however and many of the crypto top ten have been plunged back into the icy waters again. Bitcoin Cash is back below $200 where it was in March this year at the end of winter.

Litecoin has been smashed to $40 which is its lowest level since February this year. LTC has dumped over 70% since this year’s pre-halving pump which was very short-lived.

XRP Dumps to 2 Year Low

XRP is in even worse shape as the Ripple token crashes to a two year low below $0.20. The 7% loss on the day has put the token back into mid-2017 territory despite ongoing partnerships and a growing army of supporters – who all appear to be selling at the moment.

EOS has lost 8% on the day also hitting a ten-month low of $2.35 as its market cap slides towards $2 billion – half of what Block.one made in the ICO.

The pain is market-wide today with Binance Coin, Stellar, Cardano, Cosmos, and Chainlink, dumping 6-8 percent. Only Tezos has survived as XTZ continues climbing defying the sea of red around it.

Will altcoins dump back to 2018 lows? Add your comments below.


Images via Shutterstock, ETH/USD charts by TradingView

The post Ethereum, Litecoin, EOS Crushed to 10-Month Low in Altcoin Rout appeared first on Bitcoinist.com.

0 Like(s)



You should also read...

Altcoins 20/11/19 06:30 by Aayush Jindal
Bitcoin And Crypto Market Remain at Risk: BCH, Litecoin, EOS, XLM Analysis
The total crypto market cap remains at a risk of a drop towards the $200.0B support. Bitcoin price is currently correcting higher, but there are many resistances near $8,250. Litecoin (LTC) price is ...
Read More
Altcoins 26/11/19 06:30 by Aayush Jindal
Bitcoin And Crypto Market Recovery Facing Floor Test: BCH, Litecoin, EOS, XLM Analysis
The total crypto market cap started an upside correction after tagging $171.8B. Bitcoin price is up close to 10% and it is now trading above the $7,000 resistance. Litecoin (LTC) price is gaining mom...
Read More
Altcoins 12/12/19 06:30 by Aayush Jindal
Bitcoin & Crypto Market Bleeding: BNB, BCH, LTC, EOS Analysis
The total crypto market cap is declining and struggling to stay above the $188.0B support. Bitcoin price is down more than 2% and it broke the $7,200 support area. Litecoin (LTC) price is declining a...
Read More
Altcoins 28/03/20 22:53 by Edwin Kinoti
XRP, Ethereum, and Litecoin Twitter Mentions Are Diminishing. Here’s Why
Bitcoin mentions on Twitter have doubled in the first quarter of 2020 as compared to the same period last year. Meanwhile, mentions of top altcoins like XRP, Ethereum (ETH) and Litecoin (LTC) have de...
Read More
Altcoins 18/08/20 12:00 by Nick Chong
Here’s Why Analysts Are So Optimistic About Litecoin After 20% Breakout
While the focus of crypto investors has been on Bitcoin and Ethereum over recent days, Litecoin’s recent price performance has come into the public spotlight. From last week’s lows of appr...
Read More