Cryptocurrency Market Hits 2018 Low, Ether Enthusiasm Is Dying – September 12th Cryptocurrency News

The total cryptocurrency market cap hit its lowest level so far this year falling below $187 billion. Bitcoin’s dominance continues to grow again as crypto fans ditch their altcoins in favour of Bitcoin. Bitcoin currently dominates 58% of the total crypto market. At the start of 2018, Bitcoin dominated only around 32% of the market.

Crypto fans are not so enthusiastic about ethereum these days. Ether suffered losses of more than 12% over the past 24 hours.

This time last year Ether dominated 19% of the crypto market, now it dominates only 9%. This day last year ether was around $300 and today it is around $170.

Co-founder of ethereum, Vitalik Buterin wanted to clarify his recent statement that blockchain won’t see 1,000-times growth again.

He tweeted what I *actually* said is that, “because large portions of the population have already heard of crypto, further growth of crypto in any sense must come from *depth* (ie. actual usage), and not bringing in more attention. However many did not agree with him, Tron’s Justin Sun replied “I do believe the entire world wealth will turn into cryptocurrencies like blackhole and grow much bigger in the future. Cryptocurrency will hit 10 trillion USD market cap before @Apple and @amazon do. We will see. Time will tell.”

Sources:
https://www.cnbc.com/2018/09/11/cryptocurrency-ether-hits-lowest-point-of-the-year.html
https://twitter.com/VitalikButerin
www,coinmarketcap.com

This is news, not investment advice

Cryptocurrency Market Hits 2018 Low, Ether Enthusiasm Is Dying – September 12th Cryptocurrency News

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Kane Dane