Crypto Market Falls Below $200 Billion to a New 2018 Low

News and Analysis

Falling prices of the vast majority of cryptocurrencies have sent the total market capitalization back below $200 billion on Tuesday, August 14, with Bitcoin falling below $6,000.

Following successive days of market declines, the total market cap slid to $189 billion earlier today.

The decline is accompanied by continued growth in the Bitcoin dominance rate which rose above 50 percent for the first time in 2018 on August 11. At press time, that figure, according to the CoinMarketCap data, is being reported around 54 percent, its highest annual total.

The market cap first rose above $200 billion in November 2017, a development spurred at the time by the listing of Bitcoin futures products.

The largest cryptocurrency also fell significantly over the last hours, sinking below $6,000. At press time, Bitcoin is changing hands at $5,922 on Bitstamp. This figure is within the touching distance of the 2018 lowest point of 5,826,41 set on June 24.

As reported by ForkLog , Ether (ETH), the world’s second-largest cryptocurrency by market capitalization, fell below $300 for the first time in 2018 on Monday, August 13, reaching levels last seen in November 2017.

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