As we already mentioned, this Sunday the crypto market has seen a sharp drop, with the Bitcoin price plunging to below $6,700 and the Ethereum and Litecoin price following the double-digit downfall trend.
Still, the situation is not only present for BTC, ETH, XRP and the other major altcoins. According to our research, all of the 100 top cryptocurrencies have seen red today, in the wake of the news that the US Commodity Futures Trading Commission (CFTC) launched a probe into four major exchanges.
The total market cap, on the other hand, is down by more than $20 billion. Bitcoin lost more than 10% of its value in the past 24 hours and many altcoins followed. The majority of the decline took place over a period of only a couple of hours earlier yesterday.
Some of the cryptocurrencies that have seen the biggest losses include EOS – falling by 15.92% with a current price of $11.15 – NANO which also measured a 15% decrease and fell to $3.07 – as well as IOTA, which is currently valued at $1.38 after sinking more than 12%.
One popular Bitcoin evangelist took the opportunity to ask the market why the dip happened. As you can see, most of the answers are ‘Aliens’ and many people even ticked the ‘Crypto iz ded’ box.
Why the dip?#bitcoin
— Alistair Milne (@alistairmilne) June 10, 2018
After requesting data from the crypto exchanges Bitstamp, Coinbase, itBit, and Kraken, the CFTC is prepared to investigate things around cryptocurrencies – which is why people are concerned – and why the price of all the top 100 cryptocurrencies has been sinking today.