Every major cryptocurrency has seen broad losses over the last 24 hours before signs of a slight recovery late Monday morning. The pummeling came after news that China may apply regulatory pressure to force cryptocurrency operations there to close.
Bitcoin dropped as much as 18% from a Sunday high, while Ripple (XRP), which had recently surged, fell as much as 35%. All of the top 15 cryptocurrencies fell, though Ethereum has seen the strongest rebound, retaking its position as the second-largest cryptocurrency by total market value. More….