Ethereum Regains Title as Second Most Valuable Cryptocurrency Behind Bitcoin

Javier Howell
January 11, 2018

For cryptocurrency investors who don't know where to start, here's a brief overview of 12 of the most popular alternatives to bitcoin that could be in for huge years in 2018. The market capitalization also plunged lost significantly from $120 billion to around $78 billion, a fall of 35% on the Coinmarketcap, a virtual platform that displays average prices of cryptocurrencies that are traded in the major exchanges worldwide.

The cryptocurrency market gained more prominence in mainstream investing circles throughout 2017.

It's been a fierce battle for silver in the cryptocurrency world in recent days.

But in a tweet yesterday, it said: 'We excluded some Korean exchanges in price calculations due to the extreme divergence in prices from the rest of the world and limited arbitrage opportunity.

Ripple lost its title as the second biggest cryptocurrency when CoinMarketCap made a decision to exclude Korean exchanges from its averages, which resulted in Ripple?s price being shown at a lower price. The digital coin has lost 9.6% of its value in the past 24 hours and its market capitalisation now stands at almost $86 billion.

We will expect Bitcoin to be the market's litmus test for risk appetite this week as investors grapple with the South Korean government's chatter on regulation, with the markets likely to have been a little too sensitive to the comments.

Cryptocurrency values have plummeted by €100billion after an influential website sparked panic by removing South Korean exchange prices from its rates.

Cryptocurrencies were taking a beating on Monday amid concerns over an increase in global regulations, particularly in China and South Korea. The move has made market investors jittery. "Look closely at the data and don't be mislead". On December 22, Bitcoin fell below $11,000, but then rebounded and has been volatile ever since. Until December 20, the ripple stayed below $1 per coin.

The uncertainty, however, remains over the future of Bitcoin as a payment tool and many investors continue to treat Bitcoin more as an investment than an actual currency.

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