Altcoins back in crypto winter: Ethereum, Litecoin, EOS fall to 10-month low

Surprisingly, epic dumps of high-cap crypto assets such as Ethereum, BCH, Litecoin and EOS have occurred today.

Total market cap has dropped nearly $ 10 billion in the past twelve hours. The jump led to a decline in crypto markets to $ 186 billion – the lowest since early May (excluding the drop last month).

The crypto winter seems to have returned, the markets are deep in the red today. Led by Bitcoin, which fell nearly 4% overnight to $ 6,850 before recovering slightly to trade just below $ 6,900.

Bitcoin knows it all too well, but altcoins have literally been pushed to multi-month lows.

Ethereum – dark prospects

Ethereum is in poor shape, with a 7% drop below $ 130, according to Tradingview.com. The dump has brought the world’s second largest crypto asset back to support levels.

Further losses could cause ETH to land on winter crypto prices below $ 120 again. Hard to believe Ethereum sells for $ 130, but it does.

There has been a lot of FUD and tribalism on crypto-Twitter lately, especially since Ethereum’s market cap is now under $ 15 billion.

However, Ethereum is not alone; many of the top 10 coins are again immersed in ice water. Bitcoin Cash is again below $ 200 where the coin was in March – at the end of winter.

Litecoin has been beaten to $ 40, the lowest since February. LTC has dumped over 70% since the very short-lived pump before halving this year.

XRP: at 2-year low

XRP is in even worse shape as the ripple token crashes to a two-year low below $ 0.20. The 7% loss on that day brought the token back to mid-2017 despite ongoing partnerships and a growing army of supporters, who all seem to be selling at the moment.

EOS lost 8% that day, at a ten-month low of $ 2.35. The market cap is $ 2 billion – half of what Block.one did in the ICO.

Binance Coin, Stellar, Cardano, Cosmos and Chainlink also suffer and dump by 6-8%. Only Tezos survived: XTZ climbs further and defies the red sea around it.