The cryptocurrency market appeared to be in a state of flux with most coins experiencing sharp downturns. BTC remained in the $6,350-$6,450 level, playing around these price levels at one point even dropping below the $6,300 mark as turnover continued to decrease. News that Coinbase had suffered a massive drop of over 80% in turnover since January undoubtedly showed that the crypto market was suffering from continually declining interest.
Bitcoin Cash was also down to the $520 level—another 2018 low. It had climbed to almost $550 on Monday but once again lost heavily as a 10% drop took effect in the late evening. Ripple was perhaps the best performer of the top currencies as it went down by only 5% to settle at around $0.33 at press time. Ethereum also experienced a walloping decline and fell by about 10% to the $276 level at press time on Tuesday with turnover also declining dramatically.
Other currencies in the Top 10 also suffered considerable losses. EOS crashed to below the $5 level and once again began testing 2018 lows by trading at around $4.70 at press time. Litecoin was down by around 5% to the $53 level, whilst Ethereum Classic continued losing momentum to around the $12.40 level—a drop of 6%. NEO erased almost all the gains of the past few days when it dropped to around the $17.50 level, whilst Cardano kept declining to trade at around the $0.09 mark. Stellar Lumens also suffered a 6% drop to trade at just above the $0.21 level, whilst IOTA suffered a similar decline to settle at around the $0.50 level at press time on Tuesday.
Other smaller market cap coins also continued declining, with VET and TRON suffering 5 and 7% losses respectively to settle at $0.013 and $0.02 respectively. ICX was down 7% to $0.62, whilst QTUM and NULS experienced sharp drops of 8 and 7%.