Over the past 24 hours, the crypto market has lost $6 billion from its valuation, experiencing a slight drop after a solid corrective rally by Bitcoin.
While Bitcoin recorded a small gain of 0.5 percent, other major cryptocurrencies including Ethereum, Ripple, Bitcoin Cash, EOS, Stellar, Litecoin, and Cardano fell by 1 to 4 percent, affecting the token market.
Volatility of Tokens
On August 17, as the price of BTC showed a rapid recovery from $5,850 to $6,400, tokens recorded massive gains in the range of 30 to 80 percent, with VeChain increasing by over 80 percent against the US dollar.
However, as BTC stabilized in the mid-$6,000 region and other major cryptocurrencies struggled to sustain their momentum on the upside, tokens suffered. In the past 24 hours, Aion, DigixDAO, OmiseGO, BAT, and 0x fell by more than 6 percent against the US dollar and Bitcoin.
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