Ethereum shattered $ 170 as cryptography markets hit another year-on-year low

Markets crashed again; Ethereum, Bitcoin Cash, Litecoin and Cardano are destroyed.

The crypto-earth pain has increased in the last 24 hours while the markets reached a new low in 2018. The world came out of Ethereum as it resulted in a decline in total market capitalization of less than $ 190 billion. of dollars.

ETH is to be renamed "DETH", the second largest crypto currency in the world, with an exchange rate of 12.5% ​​to 170 dollars. The only other time Ethereum has been so weak since the bull market started in 2017 was mid-July of last year, when it had dropped to $ 150. Looking at a one year chart indicates that Ethereum is dying of a slow and painful death.

The collapse was attributed to the ICO projects that dumped the Ethereum they collected during the financing and were withdrawn from the markets. Some analysts have predicted that there would be more downside to come because the ICOs have only sold 5% of their holdings in ETH at the moment. If Ethereum does not find a bottom, it could well fall to about 50 dollars, which was his last stability before the big wave of encryption of 2017.

Bitcoin is much better at losing only 1.3% on the day at $ 6,270. BTC is the only cryptocurrency that has weathered this storm and could be the only one to stay up when the dust settles. Ether is not the only one suffering from crypto right now, Bitcoin Cash, Litecoin and Cardano are all being beaten for 11-13%. This has lowered them to their lowest levels for over a year.

We can see more despair in the top twenty, Nem and VeChain suffering the biggest daily losses of 14 to 16%. Not far behind, Dash, Iota, Tron and Neo lose 10 to 11% on the day. Remarkably, only Dogecoin is back in the green with a 1.25% gain on the day, as if he did not care about the rest of the digital currencies.

Total market capitalization fell to its lowest level in 2018, falling to 4.6% to $ 186 billion. The $ 10 billion dump brought the markets back to the levels of October 2017, but the bulls were then in charge and the bears are directing things now. New declines could send most cryptocurrency back into the dark as only Bitcoin seems to survive.