Bitcoin has successfully regained its market dominance – climbing to over 40% – in the wake of Ethereum’s recent flash crash.
While Ethereum and other Altcoins have threatened to unhinge its market dominance this year, Bitcoin has come out fighting and has now managed recover to control more than 40% of the cryptocurrency market. Coinmarketcap shows that Bitcoin’s market capitalization has grown in recent hours to surpass 40%; recent weeks have seen the cryptocurrency sit at 37% as Ethereum enjoyed vigorous growth. Read: Ethereum briefly eclipses Bitcoin in Google Search as rapid growth continues
A recent flash crash has forced Ethereum to sustain losses – This past weekend, a massive sell order caused ETH prices to drop by some 30% to $224 USD, which correspondingly caused some 800 stop-loss orders and margin liquidations that forced the price of the cryptocurrency to plummet to $0.10 USD.
Ethreum is presently trading at $250 USD at the time of writing, and the cryptocurrency’s total market capitalization stands at 25.32%.
Litcoin has simiarly enjoyed prosperous growth, surpassing the $50 USD mark on the 21st of June; however, despite the success of the cryptocurrency – which in part has been attributed to Chinese and Korean traders – Litcoin presently sits at a vastly reduced $37.87. CoinTelegraph report that the same follows suit for 90% of the top 100 listed cryptocurrencies – an enormous downtrend for keen investors.
At the time of writing, all of Coinmarketcap’s top ten listed cryptocurriences have incurred losses, giving worry to short-term investors. Read: Coinbase offers to reimburse losses after the Ethereum crash
What are your thoughts? Have you sustained short term losses in the wake of Ethereum’s flash crash? Be sure to let us know your opinion in the comments below!
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