Among the top 10 names, Ethereum was the biggest loser, down over 5 per cent. Polkadot, Cardano, Binance Coin and XRP dropped 3-5 per cent. Others also declined over 2 per cent.
“The battle between the bears and bulls continues, which is probably why ETH has been in a consolidating phase over the past few days, trading in a range-bound fashion between $2,800 and $3,200. The asset faces a strong psychological resistance at $3,300, which if the asset crosses and sustains, is likely to witness another strong rally,” said analysts at ZebPay Trade Desk.
In a culmination of years of efforts to rein in the sector, 10 powerful Chinese government bodies including the central bank, said overseas exchanges were barred from providing services to mainland investors via the internet – a previously grey area – and vowed to jointly root out “illegal” cryptocurrency activities.
Crypto Chart: Quick Glance
Table: Shubham Raj Source: CoinMarketCap Get the data Created with Datawrapper