Major cryptocurrencies like Etherum, Ripple and Stellar are losing out in the market due to daily dumping. Inactivity of crypto-market has given rise to a dumping of the value of most of the coins again. According to the latest update, the crypto market has lost nearly $215 billion and more in the sideways channel. Bitcoin’s value was the first one to drop by 2%, ending at the value of $6,480. The rest of the cryptocurrencies also lost their value and the value of those currencies decreased by 4.4% and slid back to $220.
Due to the occurrence of a dump every 4-5 days, the crypto market has been facing the downfall and became more predictable since past couple of months. As expected alt-coins were in the red zone the whole day. The top ten cryptocurrencies are more affected as the XRP is leading in the downfall with 8%. Stellar is facing a downfall of 6.5% and the next currencies that comes in the list are BitCoin Cash, Litecoin and Cardano losing approximately 4-5% of their value. Monero is the only coin that has been maintaining the same value irrespective of the fluctuations. The closing price of Monero by yesterday was $115.
The next twenty are also facing the same problem and the Dash coin is leading with the decrease of 4.5%. The value of Dash coin as of yesterday was $178. Remaining coins in the next twenty are also facing the same problem and almost all the coins are facing the decline of 2-4%.
Binance coin is the only coin that is in the green zone with a rise of 3% and it reached a value of $10.25. There is no way that the alt-coins will be going green today and the other top coins are also making approximately 4% benefit and the coins whose value has been increased are HyperCash and Loopring.
The dumping has been faced by the entire crypto market. There was a total decline of 3% today and $7 billion has been sold off dropping the market to $215 billion. During the week they are marginally increasing but there are no signs of modifications at the moment.