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Crypto Markets Drop Sharply, Ethereum Loses Week’s Earlier Gains

Crypto markets see a sharp decline, with Bitcoin dropping by $200 within a few hours and total market cap below $200 billion again.

Crypto markets have seen a sharp decline today, September 18, with Bitcoin (BTC) down $200 and market cap dropping as low as $192 billion within a few hours. As of press time, 93 out of 100 top cryptocurrencies by market capitalization are in the red, while losses among the top 20 coins reach over 10 percent, according to CoinMarketCap.

Percentage of Total Market Cap (Dominance). Source: Coinmarketcap

Among altcoins, EOS and VeChain (VET) have seen some of the biggest losses over the past 24 hours, down 10.29 and 10.47 percent. The fifth top cryptocurrency by market cap, EOS is now trading at $4.88, VET, the last in the top 20 coins list, is trading at $0.0127.

Recently, senior Dubai law enforcement official Lt. General Dhahi Khalfan Tamim suggested that digital currencies will “soon” replace cash, claiming that the only obstacle to the mainstream adoption of the industry are lack of public awareness as well as crime prevention policies.

With that, Ripple’s head of regulatory relations for Asia-Pacific and the Middle East stated today that crypto assets and blockchain technology are now being addressed in a more holistic manner by global policymakers.