The crypto markets continue their slump today, June 26, with most of the coins on Coin360 seeing red.
Market visualization from Coin360
Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index
Stablecoin Tether’s release of 250 million tokens yesterday, June 25 had prompted some on Twitter to predict a price increase in Bitcoin, as Tether had been reportedly connected to Bitcoin price manipulation in 2017.
Ethereum price chart. Source: Cointelegraph Ethereum Price Index
Of the top ten coins listed on CoinMarketCap, EOS, whose mainnet went live at the beginning of June after the completion of a year-long $4 billion Initial Coin Offering (ICO) is down the most, almost seven percent over a 24 hour period, trading for around $8 by press time.
After the initial launch, the mainnet had reportedly “frozen” for about four hours. EOS had also come under fire on crypto Twitter for a series of orders from the EOS Core Arbitration Forum (ECAF) to block user accounts that some say puts the coin’s decentralized system in jeopardy.
EOS price chart. Source: Coinmarketcap
Coinmarketcap cryptocurrency exchanges rankings have been shaken up this week, as two crypto exchanges — CoinBene and Bit-Z — shot to first and second place after their addition of a “transaction fee mining” model.
Binance, usually ranked first, has been pushed to fourth place, which also could be attributed to the postponement of restarting the trading and withdrawals following a risk warning after an already prolonged update.
Total market cap is at around $248 billion, up from this week’s low on June 24 of $235 billion.
Total market cap of all cryptocurrencies from Coinmarketcap