Crypto Markets Dip Under $100 Billion as Bitcoin, Ethereum Prices Lead Downturn

Bitcoin Price

Wednesday’s downturn only did minor damage to the bitcoin price, which declined 2.25% to $2,554. This remains about $450 lower than bitcoin’s mid-June high, but it nevertheless represents a seven-day increase of $20. Bitcoin’s market cap now sits at just under $42 billion.

Ethereum Price Falls 8.5%

Although bitcoin did not quite escape the downturn unscathed, it still fared better than Ethereum. The ethereum price fell 8.5% to $262, dropping its market cap to just $24.4 billion. Significantly, ethereum trading volume also dropped below bitcoin trading volume. Ethereum volume was $744.9 million, while bitcoin’s was $921.4 million.

Altcoins

Most of the top 100 altcoins followed bitcoin and ethereum’s retreat. The Ripple price declined by 2% to $0.255, while Ethereum Classic dropped 5% to $17.42. The downturn clobbered NEM, BitShares, and EOS. NEM dropped 8.5% to $0.173, but investors should take solace in the fact that NEM has still made positive movement since last week. The BitShares price fell nearly 15% to $0.222, causing its market cap to drop well below $600 million.