CryptoWatch: Ripples Market Cap Cut In Half As The Cryptocurrency Keeps Falling

Prices for bitcoin and Ripple coins dropped early Wednesday, while Ether coins continued their rally. Ripple’s ongoing selloff left that cryptocurrency’s market capitalization down by more than 50% from last week’s peak.

The bitcoin spot price BTCUSD, -4.74% BTCUSD, -4.74% recently was off by 5% at $13,652, according to CoinDesk data. It remains above a one-month low, under the $13,000 mark, that was hit in late December. But it is also far below its recent all-time high above $19,000 that was notched in mid-December.

Bitcoin futures for January BTCF8, -6.10% on the CME dropped 8% to $13,610, and on the Cboe, bitcoin futures XBTF8, -5.88%  fell 8% to $13,660.

Meanwhile, Ether coins on the Ethereum blockchain climbed 7% to $1,320, and Ripple slumped 22% to $1.87, according to CoinMarketCap.com data.

Ripple’s market cap has dived to $67 billion from its Jan. 4 peak above $148 billion. It had become the second-biggest crypto by market capitalization last month, but Ethereum reclaimed the No. 2 spot this week.

Read: 7 cryptocurrencies to watch in the hunt for the next bitcoin

Bitcoin remains No. 1 by a wide margin, with a market cap of $231 billion to Ether’s $128 billion.

See: Proposal for risky bitcoin-based ETFs withdrawn

Also: North Korean malware found that mines cryptocurrency, experts say

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