Ether, bitcoin prices fall as cryptocurrency sales deepen

The prices of cryptocurrency have remained under pressure today.

The bear market of cryptocurrency has recorded a new low for 10 months, driven by the fall of Bitcoin's biggest rival. Ether sank 8.1% from its level at 17 hours. New York time Friday, according to Bloomberg composite prices. Bitcoin lost 2%, while the market capitalization of digital assets tracked by CoinMarketCap.com declined $ 196 billion, down about $ 640 billion from its January high.

The Bloomberg Galaxy Crypto index of major virtual currencies has declined for five of the past six weeks, due to fears that a wider adoption of digital resources will take longer than expected. This concern was highlighted this weekend after the US Securities and Exchange Commission temporarily suspended the trading of two cryptocurrency-related securities and Ethereum co-founder Vitalik Buterin said the days of explosive growth of the industry

Crypto-currencies remained under pressure on Monday despite reports that Citigroup Inc. has developed a new mechanism for investing in digital assets. The bank plans to act as an agent issuing "digital asset receipts" (DARs) to allow proxy trading without the direct ownership of the underlying parts, a person having knowledge of the plans.

The Bloomberg Galaxy Crypto index fell 3.5% at 10:02 in Hong Kong, approaching the lowest close since mid-November.