Encrypted currency market value fell more than 50% at the highest

nRunaway Comment: The cryptocurrency market has achieved incredible growth in the past year, especially at the end of the year. But recently, this emerging market is mainly showing a downward trend. According to the data analysis, the total market value of cryptocurrencies has dropped more than 50% from its peak and the performance of key crypto-assets is not good. But even if this happens, the market is still much more powerful than it was in early 2017. So, despite the number of negative stories that come with it, there are not many investors who want to exit the market.n
nTranslation: Inan
According to CoinMarketCap data, the total value of all listed crypto-currencies on February 5 was $ 360 billion, the lowest market value tracked since December 4 last year.n
This two-month low shows in fact the more severe downturn in the market as it shows that the market has fallen 50% from its peak of $ 830 billion in early January this year.n
In fact, the market experienced double-digit declines in just four days, and new buyer fatigue and negative news coverage also seemed to have caused losses in the market in just a few weeks.n
The plunge in the market may be due to reports that China will further limit the access of its domestic buyers to resources in overseas markets, prompting more speculation that new buyers will face further hurdles and that the world’s major credit card issuers are said to be restricting purchases of cryptocurrencies way.n
However, these figures do not look bleak either because the market has risen by more than 1800% from its February 2017 market cap of $ 19 billion.n
Therefore, traders still continue trading in such a declining situation, or frankly accept those negative news. Further data analysis shows that in comparison with the cryptocurrency market on Monday (February 5) and February 2 (Friday), the top 10 cryptocurrencies have experienced double-digit declines in these two days.n
In other words, this market is rapidly declining. The following are the current market prices and the recent price hikes of several key encrypted assets:n

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ETHn


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Ethereum’s cryptocurrency ETH current transaction price of 783 US dollars, is the lowest point in nearly three weeks. As of press time, this price is its lowest transaction price since January 17.n
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XRPn
The RippleNet blockchain’s cryptocurrency XRP, one of the worst performing cryptocurrencies in January 2018, dropped 12% on Monday and traded at $ 0.76.n
However, it fell even more last week, the price fell to 0.63 US dollars.n
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BCHn
Bitcoin Cash (BCH), also one of the worst performing crypto currencies in January, dropped to $ 980.78 on Friday, the most recent transaction at $ 1026.n
However, this situation may be a hint of encouragement because of its larger decline last Friday.n
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Cardanon
This is a new asset that has recently been added to the high-cap cryptocurrency market and the current market downtrend did not reduce its trading volume.n
At press time, Cardano traded at $ 0.34, up 25% from last Friday.n
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LTCn


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Litecoin fell 12%, the price dropped to 137 US dollars, but still higher than the lowest point of 105.35 US dollars last week.n
Data show that Litecoin rose significantly on February 4, the highest transaction price reached 173.80 US dollars. It is reported that this price rise is caused by the rumor that the LTC is about to fork. However, Litecoin founder Charlie Lee has denied that.n
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XLMn
Also known as STR, Stellar’s cryptocurrency is trading at $ 0.34 on Monday, up from $ 0.28 last Friday.n
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NEOn


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NEO traded at $ 95.65 on Monday, compared with $ 91.96 on Friday.n
As this cryptocurrency community is predominantly in China, it may also send a strong signal that China will further restrict citizens from entering the market.n
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EOSn
EOS now trades at $ 8.20, up 56 cents from last week.n
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NEMn
It is noteworthy that NEM recent transaction price of 0.50 US dollars, compared with 0.44 US dollars on Friday rose 13%, but still significantly lower than the price at the end of January. At that time, the Japanese exchange Coincheck was attacked, a large number of NEM was lost, NEM therefore boarded the news headlines.n

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