Nearly all key crypto assets are currently down 90% from their all-time maximums

Nearly all key crypto assets are currently down 90% from their all-time maximums

OnChainFX states that almost all key crypto assets have lost approximately 90% of their market value, steeply tumbling from their previous year’s maximums.

As a matter of fact, among the 15 leading crypto assets by circulating market cap, up to 11 of them have gone down by over 90% from their record maximums.

On Thursday, the number two crypto asset, Ripple’s XRP, was last seen at 0.34365, heading south by about 92% from its record maximum of $3.84 in January this year.

In addition to this, Ethereum managed to hit $104.1, decreasing by nearly 93% from its all-time maximum at $1,431.

Besides this, Bitcoin went down by approximately 81% since getting to the mind-blowing maximum of $20,000. Currently, the value of this digital coin accounts for $3,873.8.

Crypto assets have decreased drastically for recent weeks, following news of regulatory scrutiny as well as a hard fork in Bitcoin cash. All of this is considered to be key headwinds for the crypto world.

Earlier this week, is has been disclosed that members of the G20 made up their mind to work on international effort for the purpose of regulating crypto assets, which is in line with standards set by the Financial Action Task Force, an intergovernmental organization started in 1989.

The given move is considered to be an effort to tame tax evasion by crypto investors. By the way, crypto assets were included in the joint declaration of G20 members at the end of the summit.

Meanwhile, Thursday’s reports stated that Japan is all geared up towards urging crypto exchanges to disclose information on their users who have been suspected of tax evasion.

According to government sources, many individuals didn’t uncover their gains from crypto activieties and transfers.

 

 

Similar

USD/MXN: optimistic on the vaccine coming?
USD/MXN: optimistic on the vaccine coming?

During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?

Latest news

USD starts the week with gains
USD starts the week with gains

Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.

ECB report is in focus
ECB report is in focus

The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time. 

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

Manager will call your number

Correct number

Your request is accepted

Manager will call your number

Next callback request for this phone number
will be available in {time}

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera