CFTC price manipulation probe causes top cryptos to plummet?

    2018/06/11 12:52 Sarah lv Created with Sketch.

The crypto markets saw a steep decline come Sunday night after news of the US Commodity Futures Trading Commission (CFTC) launching an investigation into the four leading crypto exchanges, Bitstamp, Coinbase, itBit and Kraken. The top 100 cryptocurrencies saw red causing the total market capitalization to drop nearly $20 billion within 24 hours of the news, according to Coinmarketcap.


The top crypto, Bitcoin (BTC), saw a drop of roughly 7% just a few short hours after the news, reaching a low of $6,634.67. Ethereum (ETH) saw a fall of 8% reaching, $501.80 with Litecoin falling 6% at $106.30. Coinmarketcap reports that IOTA (MIOTA) and EOS have seen the most dramatic decline of market capitalization after the news. EOS has seen notable growth because of their recent blockchain launch but has lost nearly 10%, currently trading at $11.02. The total market capitalization is hovering just above $294 billion meaning it has seen a total decline of nearly $140 billion within the past 30 days.


    Adapted from: CoinTime Executive editor: Sarah
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