Below $200 Billion: Crypto Market Sinks to New 2018 Low

Falling costs have sent the entire market capitalization of cryptocurrencies back under $200 billion.

Data from CoinMarketCap reveals the entire market cap shrunk to $189 billion Tuesday, a movement that follows consecutive days of economy declines. The market cap first rose over $200 billion in November 2017, a growth spurred in the time from the list of bitcoin stocks products.

Leading the downward push is zilliqa, that has witnessed the worth of its ZIL cryptocurrency autumn by 35 percentage previously 24 hours.

The decrease is accompanied by continuing increase in the so-called bitcoin dominance speed, or the proportion of the entire market cap that’s contributed from the world’s biggest cryptocurrency.

As CoinDesk reported August 11, the dominance speed rose above 50 percent for the very first time in 2018. At press time, which amount has been reported 54 percentage, it is highest yearly total.

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