Bitcoin And Other Cryptocurrencies In Major Correction – Korean Exchange Raids Likely Causebr>
A cryptocurrency price plunge is underway, as bitcoin and other coins are massively retreating. As of mid-morning, bitcoin was at the $8,600 per single coin level, down from yesterday’s high of $9,300.
The rest of the market was also in correction, with Bitcoin Cash, Ripple XRP and EOS particularly hard hit, losing as much as 15 percent of their value.
Today’s raid on the largest crypto currency exchange in Korea spooked investors, as one of the prime drivers of pricing was suddenly under fire after the country looked like its regulators were settling down.
Bitcoin market highlights for the 24 hours ending May 11, 2018 at 1:00 pm U.S. Eastern Time
The highest price seen was $9,376.35 on the Huobi exchange at 1:12 pm yesterday. Huobi saw $206,952,000 of bitcoin change hands.
The lowest price seen was $8,457.38 on Binance’s exchange at 8:24 am today. Binance’s 24 hour volume was $428,257,000.
The average price on the surveyed exchanges, as weighed by volume, was $8,831.93.
Volatility was greater than average, with the BlockTribune Volatility Index coming in at 61.3. A higher number indicates greater price volatility with 50 describing an average day.
These statistics were consolidated from 8 different exchanges. It includes only BTC/USD trades and only on those exchanges that had at least 1% of the total volume of BTC/USD trades during the measurement period.