Altcoins Are Tumbling: The Top 20 Is Now A Sea Of Reds

The sudden crash on the market has led altcoins in a sea of reds. All of this started when Bitcoin lost more than 20% in a couple of days and extended its losses to 4% overnight, as the latest crypto news show. Right now, altcoins are tumbling and the consolidation price is not as strong as we expect it.

As it stands, the painful correction on Tuesday made altcoins suffer. The losses were double-digit ones, and Bitcoin SV (BSV) was taking the lead with a massive hit up to 34%, losing more than a third of its value. Several other major altcoins were also recording multi-month lows.

Right now, we can see that altcoins are tumbling but the situation is better. The markets calmed down and the Bitcoin news show that the most dominant cryptocurrency is now above $8,100 which is still a very critical level for it.

Today’s prices in the altcoin market show us a more dire picture, and the coins are finding themselves in another downtrend price spiral. For example, Stellar (XLM) which is the tenth most popular coin is showing green candlesticks – something rare at this point. XLM is now trading at $0.058 per coin, with a 24-hour gain of more than 3%.

In the Ethereum news today, we can see that Ether (ETH) dropped by 2.5% in the last 24 hours to a price point of $164, after which it recovered to $166 which is its price at press time. This counts for a $60 loss over a period of 7 days.

Ripple’s XRP is also showing a similar downward behavior as altcoins are tumbling. XRP is trading at $0.24 and is down by a couple of percentage points in the past few days. The other cryptocurrencies are also in a sea of red – and there are almost no winners in this downward trend.

The exodus continues, and as altcoins are tumbling, the biggest losers are EOS which is down 3%, Bitcoin Cash which is down by 5%, Cardano and Tron which posted losses close to 3% and Huobi Token which is today down by almost 5%.

The overall cryptocurrency market cap is right now at $214 billion, showing that more than $50 billion have been wiped away from the markets over the past few days.