Cryptocurrency values plunged Friday in a market-wide selloff that reversed highs the volatile sector had reached just days earlier.
The market capitalization for the entire cryptocurrency marketplace stood at $483.3 billion at midday Friday, down roughly 21% from $610.43 billion at midnight EST for the sector that trades around the clock, according to data at CoinMarketCap.com.
A bitcoin fall powered the decline. The world’s largest and best-known digital currency was priced at $12,900 just after noon EST, down approximately 17.6% since Thursday, according to data at Coinbase, one of the largest bitcoin markets.
“Due to today’s high traffic, buys and sells may be temporarily offline,” Coinbase’s online status page cautioned shortly before noon EST, adding that the market was “working on restoring full availability as soon as possible.”
As of midday, bitcoin had fallen nearly 35% from the all-time high of roughly $19,783 the digital currency reached on Dec. 17.
Bitcoin futures were also down on Friday. Financial data from the CME Group, which launched bitcoin futures on Sunday, showed the bitcoin futures contract expiring in January was down 16.75% at $13,130 shortly after noon EST… see more