The cryptocurrency market is plunging 9% at the moment with bitcoin at $54.600 and ethereum at $1788.
So, it was a “grey” Sunday, after the spread of rumours about prosecutions by the US Treasury Department against many financial organisations for money laundering using cryptocurrencies.
Of course, for now we are talking rumours, but they were enough to deplete the profits of many weeks.
High-capitalisation altcoins are the ones that have seen the biggest losses, losing most of their double-digit value: Ripple (-22%), Cardano (-17%), Polkadot (-17%), Uniswap (-17%), Litecoin ( -21%), Chainlink (-17%), Dogecoin (-15%), Bitcoin Cash (-25%) and the list goes on.
In lower capitalised altcoins things are worse: BItcoin SV (-30%) making the biggest dive, followed by Ethereum Classic (-25%), Verge (-23%), Horizen (-22%), Helium (-22 %), Dash (-21%), Ren (-21%), EOS (-20%), Siacoin (-20%), Avalanche (-19%), OMG Network (-18%) and so on.
In total, the market has lost more than 360 billion dollars since yesterday, however the downward trend seems to have stopped for the time being.