Cryptocurrencies continue plunge with another $6 billion of value wiped out in a day

If you follow cryptocurrencies for some time, it isn’t new for you that their valuation fluctuates too much. Well, this week wasn’t very different and, for unsatisfaction of some investors/speculators, cryptomarket fell down hard.

Over $6 billion was wiped off global cryptocurrency markets in a day, led by XRP and ethereum as prices of digital coins continued to fall.

The entire market capitalization or value of cryptocurrencies had plunged $6.72 billion in 24 hours as of about 11:32 a.m. HK/SIN time on Friday, according to data from Coinmarketcap.com. That came after a sharp sell-off across the board on Thursday, which erased billions of dollars of value in a matter of hours.

Friday’s drop was led by XRP, which was trading at around 39.13 cents at 11.32 a.m. HK/SIN time, marking a 7.9 percent drop from the day before. It fell as low as 37.89 cents. Ethereum also fell to around $191.07, dropping 7.4 percent from the day before.

Meanwhile, bitcoin largely stabilized at around $6,278.61, falling just under 0.8 percent on the day. Ethereum, bitcoin and XRP pared some of those losses but were still sharply lower.

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