There’s blood in the streets, the water and everywhere else you may care to look today as the cryptocurrency market plunges below $200 billion with a vengeance. We’ve got the reaction from across the web in today’s Bitcoin in Brief, as well as the latest developments from the realm of stablecoins, which have been an oasis of calm amidst all the blood-letting.
Also read: Bitcoin is a Permissionless, Decentralized Firearm: Cody Wilson is Satoshi Nakamoto
Crypto Capitulation Sets In
The bottom isn’t in until all hope is lost, the aphorism goes. While it would take a brave man to predict that precise point, the end is surely nigh, at which point the market can bounce and begin its painful recovery. We’ll provide a market update later today detailing the losses across the board and suggesting where we may be headed from here. For now, let’s just take a moment to soak up the sentiment from around the web. On Reddit’s r/cryptocurrency board, traders are counting their losses:
…while on 4chan’s /biz/ messageboard, the sentiment is much the same, but with more pink wojaks thrown in to accentuate the despair:
With cryptocurrencies such as IOTA, BNB, and Vechain nursing 20% losses in a single day – 25% in the case of the latter – the market is looking very ugly indeed. It takes a brave soul to to stomach looking at their portfolio today. The total value of the cryptocurrency market has now dropped to $194 billion at the time of publication, with bitcoin dominance reaching 53.5%.
Stablecoins Shine as Makerdai Partners with Wyre
Just three cryptocurrencies in the top 100 are showing signs of green right now, and predictably they’re all stablecoins. Tether is within
