The Crypto Market Just Hit a Low for 2018
The developments come after the US Securities and Exchange Commission (SEC) delayed a decision on a proposed bitcoin exchange-traded fund (ETF). The news triggered a market reaction, ultimately sending the total value of all cryptocurrencies down to $227.8 billion on Wednesday – the lowest level since November 2017 – according to data from CoinMarketCap.
The drop to nine-month lows marks a 10.7 percent depreciation on a 24-hour basis. As of press time, the market capitalization had risen back slightly to $228.6 billion.