Cryptocurrencies are tumbling since hitting the peak on Jan 7 when the total crypto market capitalization had touched the level of $813 billion. However, the selloff intensified over the last two days, thanks to China and South Korea who announced to make tough regulations on cryptocurrency trading. Almost $200 billion has been wiped off the value of digital currencies in the last two days alone.
The total market capitalization currently hovers in the range of $450 billion, substantially lower from the Tuesday morning of $650 billion.
Source Image: coinmarketcap.com
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