Crypto Markets See More Red as Prices Slump Downwards

The crypto markets continue their slump today, June 26, with most of the coins on Coin360seeing red.

Market visualization from Coin360

Bitcoin (BTC) is trading at around $6,205, down around 1 percent over a 24 hour period to press time.

Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index

Stablecoin Tether’s release of 250 million tokens yesterday, June 25 had prompted some on Twitter to predict a price increase in Bitcoin, as Tether had been reportedly connected to Bitcoin price manipulation in 2017.

Ethereum (ETH) is also slightly down, losing almost 5 percent over a 24 hour period and trading at around $446.

Ethereum price chart. Source: Cointelegraph Ethereum Price Index

Of the top ten coins listed on CoinMarketCap, EOS, whose mainnet went live at the beginning of June after the completion of a year-long $4 billion Initial Coin Offering (ICO) is down the most, almost seven percent over a 24 hour period, trading for around $8 by press time.

After the initial launch, the mainnet had reportedly “frozen” for about four hours. EOS had also come under fire on crypto Twitter for a series of orders from the EOS Core Arbitration Forum (ECAF) to block user accounts that some say puts the coin’s decentralized system in jeopardy.

EOS price chart. Source: Coinmarketcap

Coinmarketcap cryptocurrency exchanges rankings have been shaken up this week, as two crypto exchanges — CoinBene and Bit-Z — shot to first and second place after their addition of a “transaction fee mining” model.

Binance, usually ranked first, has been pushed to fourth place, which also could be attributed to the postponement of restarting the trading and withdrawals following a risk warning after an already prolonged update.

Total market cap is at around $248 billion, up from this week’s low on June 24 of $235 billion.

Total market cap of all cryptocurrencies from Coinmarketcap