$13 Billion Wiped Out as Cryptocurrency Market Takes Another Beating

On June 23, the cryptocurrency market demonstrated another minor short-term correction, as $13 billion were wiped out of major digital assets such as Bitcoin, Ethereum, Ripple, Bitcoin Cash, and EOS.

EOS recorded the largest loss against the US dollar amongst major cryptocurrencies, dropping by more than 11 percent overnight. Bitcoin, Ethereum, and Ripple recorded a five percent loss but have recovered slightly since.

Small Cryptocurrency and Tokens Will Suffer

A study released by the American Institute for Economic Research (AIER) has revealed that BTC has been consistently more stable and less volatile than any other major digital asset and cryptocurrency since 2013.