Cryptocurrency Market Erases Yesterday’s Gain

Yesterday, on March 6, the global cryptocurrency market moved closer to the $500 billion mark, as it peaked at $475 billion. Today, the market dropped by nearly $30 billion in value, as major cryptocurrencies recorded losses. On March 5, the price of Ripple gained momentum due to unverified rumors which claimed Coinbase, the world’s largest cryptocurrency brokerage and wallet platform, will integrate Ripple this week. The price of the cryptocurrency could fall by large margins. Over the past 24 hours, almost immediately after Coinbase released an official announcement that clarified the company’s plans to not add any new asset on the Coinbase trading platform or GDAX in the short-term, the price of Ripple fell by more than 11 percent. The official statement of Coinbase read, “our January 4th, 2018 statement continues to stand: we have made no decision to add additional assets to either GDAX or Coinbase. Any statement to the contrary is untrue and not authorized by the company.”

Reference: https://www.ccn.com/cryptocurrency-market-erases-yesterdays-gain-ripple-drops-11/

Share this: