Crypto Prices Plummet Sharply, With Significant Losses Across the Board

Almost all of the top one hundred cryptocurrencies by market cap have seen significant losses within the space of just a few hours today, June 22, as data from Coin360 shows.

Market visualization from Coin360

Market visualization from Coin360

Total market capitalization of all cryptocurrencies has dropped to just under $268.4 billion at press time, dropping a hefty $16 billion on the day.

Total market cap of all cryptocurrencies from Coinmarketcap

Total market cap of all cryptocurrencies from Coinmarketcap

Bitcoin (BTC) is trading around $6,386 at press time, down 7.2 percent over the 24-hour period. The leading cryptocurrency has now reversed a flash three day rally, which saw its price recover to as high as $6,792 June 19.

Bitcoin price chart

Bitcoin price chart. Source: Cointelegraph Bitcoin Price Index

Ethereum (ETH) has been hit with an even harder loss over the past 24 hours, dropping 8.2 percent and trading around $492 to press time. The leading altcoin briefly recovered June 18-21 to reclaim the $520-540 range, but today again dipped below the round $500 figure and is trading only just slightly higher than its intra-weekly low of $485.

Ethereum price chart

Ethereum price chart. Source: Cointelegraph Ethereum Price Index

All of the top ten cryptocurrencies by market cap have lost between 4 and around 10 percent over the 24-hour period, according to Coinmarketcap, with EOS dropping most sharply, trading at $9.45 to press time, down 10.08 percent.

Earlier this week, EOS block producers preemptively acted to prevent theft, freezing seven accounts compromised by the registration process through phishing scams. The action led to a backlash from commentators, including high-profile crypto industry players, Nick Szabo and Charlie Shrem: