Prices of major cryptocurrencies plummeted on Monday. However, the crypto market capitalization pared some losses after that.
Ripple, which showed incredible growth at the end of 2017, fell sharply by 30%. Analysts explained the decline by the fact that popular crypto website CoinMarketCap removed a group of Korean cryptocurrency exchanges from its price calculations. That resulted in a technical revaluation which looked like all coins had dropped in price.
The sharp price decline was interpreted by trading robots as a signal for a sell-off in cryptocurrencies and resulted in a so-called flash crash in the market, which, however, soon started to rebound.
At the moment, ether looks the most stable cryptocurrency. On Tuesday, it reached $1,200 and it continues to add in value.
Despite all the hype leading up to the launch of the bitcoin futures market, this tool can be called a failure. Bitcoin soared to $20,000 on expectations of the launch, but then began to decline with a trading volume falling sharply.
