The number of crypto currencies is rising rapidly, but $629 billion lost in price falls

   Crypto currencies

Is the crypto boom over?  That seems to be a pertinent question given the recent falls in the value of the top 10 crypto currencies, most of which have fallen over 70% during the course of 2018.

The number of individual currencies or tokens continues to proliferate, with 500 more being added in 2018 to reach a new all time high of 1926 today, (9th September 2018). The total market cap of all crypto currencies has fallen $650 Billion since the 7th January 2018.

 

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Crypto currencies, market cap down $650 billion since the 7th Januat 2018

Is the crypto boom over?  That seems to be a pertinent question given the recent falls in the value of the top 10 crypto currencies, most of which have fallen over 70% during the course of 2018.

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The number of individual currencies or tokens continues to proliferate, with 500 more being added in 2018 to reach a new all time high of 1926 today, (9th September 2018). The total market cap of all crypto currencies has fallen $650 Billion since the 7th January 2018.

 

That is a lot of investors’ money evaporated in a very short time!

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And of course 500 new tokens or coins have ICO’d over that timeframe!

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Bitcoin itself is still higher than a year ago, but has lost 40% YTD, which is considerably better than the other top 10 crypto currencies, and some of the smaller ones have far greater losses and are hard to trade. Of the top seven cryptos at today’s market cap, six have collapsed by between 78% and 92% from their respective peaks

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One wonders how much further these losses can continue before investor confidence is lost in crypto currencies?

 

 

 

 

 

 

 

 

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