Cryptocurrency markets suffer massive drop

The value of publicly-traded cryptocurrencies dropped by over $10 billion this weekend, according to a report by CoinDesk.

The report stated that the total market has fallen by 46.9% since its all-time high of $115 billion in mid-June – dropping to $61 billion on 16 July.

Cryptocurrencies most affected by the sell-off include Ethereum and Ripple’s XRP. Bitcoin was also affected, dropping below the $2,000 mark.

“In just over 30 days, the price of Bitcoin has fallen 38% from $3,018 on 12 June to a low of $1,866,” stated the report.

Now read: How to spend your Bitcoin and Ethereum in South Africa

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Cryptocurrency markets suffer massive drop