The US stock market took an 800 point plunge and continues to fall, dragging down the global stock market today and the cryptocurrency market was not spared. The top 30 cryptocurrencies fell across the board.
The panic index VIX, which measures the volatility of US stocks, rose above the 20-point to 22.96, a six-month high, an increase of nearly 44%. Global risk aversion is heating up, cryptocurrency, known for its volatility, and prices follow. As of 8:00 AM PST, Bitcoin (BTC) fallen to around the $6,300 mark.
Among the mainstream cryptocurrencies the change in the past 24-hour period looks as such: Ethereum (ETH) fell 10.44% to $202.32; Ripple (XRP) fell 11.88% to $0.41. Among the top 30 market capitalization cryptocurrencies, more than 10% fell including Bitcoin Cash (BCH) and Stellar (XLM).