The cryptocurrency market has been hit massively by the bear with all the top ten coins that include Bitcoin [BTC], Ethereum [ETH], Tron [TRX] and XRP all seeing massive price drops.
A preliminary market analysis shows the price bleed consistent with not just the top ten cryptocurrencies but rather the entire top twenty cryptocurrency club. At the time of writing, Bitcoin [BTC] was falling by 2.06% with a total market cap of $110.120 billion. The cryptocurrency has been consistently falling for the past 12 hours in the range of 2.5%-4%.
XRP, whose prices HODLers expected to shoot up after the commercial launch of xRapid, has still not achieved market expectations with a bearish drop of 2.6%. The cryptocurrency which was in a race to overtake Ethereum in terms of market cap, still holds a disparity of $2.2 billion. Ethereum was not spared by the bear either, sliding at a rate of 3.51% with a total market cap of $20.210 billion.
Justin Sun’s Tron [TRX] was another major casualty during the bear massacre. The cryptocurrency which had recently announced that it had completed 901,408 daily transactions along with several updates, turned out to be the one of the biggest losers among the top 20 cryptocurrencies. At the time of writing, Tron [TRX] was trading at $0.022 with a total market cap of $1.467 billion.
The Charlie Lee founded Litecoin [LTC] was the biggest loser in top ten cryptocurrency club, undergoing a massive crash of 5.15%. The cryptocurrency was trading at $49.18 with a total market cap of $2.898 billion. Litecoin was also in the news recently when Lee stated that he wanted to start a coin that was unbiased, fair and something that will be established as Bitcoin’s compliment.