Bitcoin fell below $30,000 for the first time since Jun. 22 dragging other digital coins lower. About $89 billion was wiped off the entire cryptocurrency market in 24 hours as of 6:29 a.m. ET on Tuesday, according to CoinMarketCap data. Bitcoin was down more than 5% while ether fell over 6% and XRP sank almost 9%, according to CoinDesk data.
Bitcoin has been the baton holder for cryptocurrency market for a long time, but its position as the ultimate crypto is in danger for the first time. Ethereum has outpaced Bitcoin in the total number of transactions last week, for the first time. The crypto also saw more daily active addresses which is basically the active number of participants of Ether.