Altcoins Continue to Tumble, With Top-20 Showing a Sea of Red

Thursday, Sept. 26 — After Tuesday’s sudden crash, altcoins seemingly entered a consolidation phase yesterday and for the better part of today, until signs of a new downward price trend reared its ugly head.

Cryptocurrency market daily overview. Source: Coin360

Altcoins are still reeling from Tuesday’s painful correction, which saw double-digit losses. Bitcoin SV (BSV) took the lead with a massive hit of up to 34%, while several other major altcoins were recording multi-month lows.

Yesterday’s markets calmed down and seemingly entered another consolidation phase. However, today’s prices show us a more dire picture, with altcoins finding themselves in another downward price spiral.

The 10th most popular coin, Stellar (XLM), is the only exception that managed to show green candlesticks. XLM is currently trading at $0.058 per coin, with a 24-hour gain of more than 3% at publishing time.

Stellar 24-hour price chart. Source: Coin360

The number one altcoin, Ether (ETH), dropped by 2.35% in the last 24 hours to a price point of $164 per coin — counting for a $60 loss over a period of 7 days.

Ether 7-day price chart. Source: Coin360

Ripple’s XRP is showing similar downward behavior and is trading at $0.24, down 1.58% on the day.

XRP’s 24-hour price chart. Source: Coin360

Other top-20 coins that fell considerably and continue seeing an exodus of cash are EOS, down 3%, and Bitcoin Cash (BCH), down 4.7%. Cardano (ADA) and Tron (TRX) are both showing losses close to 3%. Huobi Token (HT) is the worst performer in the top twenty, down almost 5%.

The overall cryptocurrency market cap sits at $213.5 billion, with Bitcoin making up 68.2% of the total.