Sunday, June 10: the crypto markets have seen a sharp drop today, following the news that the Commodities Futures Trading Commission of the United States (CFTC) has launched an investigation into four large crypto bags.
All of the top 100 cryptocurrencies by market capitalization are in red for 24 hours until the time of this publication, while the total market capitalization has been reduced by around $ 20 billion in the same period, according to Coinmarketcap.
Among the top 10 cryptocurrencies by market capitalization, IOTA (MIOTA) and EOS have suffered the biggest losses in the last 24 hours, according to Coinmarketcap. MIOTA fell 10 percent, trading at $ 1.50. EOS, which saw significant growth earlier this month, coinciding with the release of its EOSIO 1.0 software package, has not been spared today either, losing 8 percent during the 24-hour period. Now it is trading at $ 13.12.
The sharp fall in the prices of cryptocurrencies comes as a result of the news that the Commodities Futures Trading Commission of the United States (CFTC) has requested commercial data from the Bitstamp, Coinbase, itBit and Kraken crypto bags. According to Coinmarketcap, these are respectively the 21st, 14th, 45th and 13th largest stock exchanges in the world by trade volume.
Bitcoin businessman and evangelist, Alistair Milne, tweeted a poll today, asking his followers what is the reason for the sharp drop in the cryptocurrency markets. Milne's apparent implication that the fall is not related to either the CFTC data request or the Coinrail hack was received with the approval of the crypto community, with "Aliens" being the most popular version, followed by "Cryptus eztan" dead. "
The weak point of the whole ecosystem of cryptocurrencies has been the manipulation of the market that may be in it, the great whales have sometimes been characterized by strongly influencing the cost of all cryptocurrency, as well as inexperienced sellers and buyers, however, we have also seen that platforms based on the scope of transactions between them also affect. Let's hope all this stops and this just happens to be a bad time, let's continue trusting the crypto and become spokesmen for its expansion, because that will benefit us all.
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