Every major cryptocurrency is getting smoked
Almost every major cryptocurrency, from the flagship bitcoin to lesser known digital tokens like litecoin and dash, took a hit Friday morning, with some down as much as 33%.
Here's the scoreboard as 8:30 a.m. ET on Friday:
- Bitcoin: $12,404 (-20.43%)
- Ethereum: $592 (-20.34%)
- Bitcoin cash: $2,032 (-33.667)
- Ripple: $0.871 (-22.66%)
- Litecoin: $210 (-30.56%)
- Dash: $921 (-30.17%)
There is one small glimmer of hope amid all the red, however. Ethereum classic, which split from its namesake in July 2015, was up 3.4% at $38.20 per coin.
Bitcoin, easily the most well-known and largest cryptocurrency by market cap, hit an intraday low of $12,439 early Friday - 37% below its peak of $19,843 hit on December 18, according to data from Markets Insider.
Litecoin, which saw astronomical gains last week, has been steadily declining since Tuesday. Charlie Lee, the creator of the cryptocurrency, announced early Wednesday he had sold his entire stake. The digital coin is down 41% from this week's record high, according to Markets Insider data.