Crypto Prices Plunge 10%; Down More Than 90% From Record Highs

Investing.com – Cryptocurrency prices plunged more than 10% on Friday. Nearly all major cryptocurrencies are now down at least 90% from their all-time high, the latest data from OnChainFX showed.

Bitcoin lost 13.00% to $3,419.6 by 1:31 AM ET (06:31 GMT) on the Investing.com index. Ethereum plunged 19.1% to $86.68, and XRP dropped 12.2% to $0.30396 on the Poloniex exchange. Litecoin also slid 14.6% to $25.999 on the Bitifinex exchange.

Among the 15 largest digital coins by circulating market cap, 11 of them have declined by more than 90% from their respective record highs, data showed.

Digital coins have fallen dramatically in recent weeks, with news of regulatory scrutiny and a hard fork in Bitcoin cash cited as major headwinds for the crypto industry.

In other news, the U.S. Securities and Exchange Commission (SEC) posted an update on Thursday regarding the approval process for a bitcoin exchange-traded fund (ETF).

“The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change,” Eduardo A. Aleman, assistant secretary in the SEC, said in the release.

Meanwhile, local media outlet The Japanese Times reported that the National Police Agency in Japan registered nearly 6,000 suspicious cryptocurrency transactions so far this year.

This figure reflects an 800% increase over the 669 cases reported from April to December in 2017.

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