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A correction was seen in cryptocurrencies yesterday, with seven out of the top 10 showing losses in the past 24 hours. However, Bitcoin and Ethereum both maintained relatively high levels. At the same time, a change in ranking was seen at the bottom of the top 10 cryptocurrencies list.

Bitcoin recovers after shedding $200

A day after hitting a new all-time high, the cryptocurrency closed in the red yesterday, and continued to drop this morning, before recovering. Some of the price drop is attributed to billionaire Mark Cuban, who used Twitter to slam the cryptocurrency. It seems that his 7.1M followers on the social network took his words seriously, as a significant part of the price drop came right after the tweet. However, the cryptocurrency recovered since, nearing the $2,800 mark this morning.

Ethereum maintains high levels

Despite closing in the red yesterday, Ethereum is still going strong, staying above the $260 level this morning. The cryptocurrency was flirting with $270 yesterday before reverting to slight losses. Overall, the first week of June proved to be a positive one for Ethereum, as it continued its bull run, reaching all-time highs twice this week.

Bytecoin surges into top 10

After STEEM overtook Monero yesterday, reaching 9th place on the cryptocurrency top 10, another major shift happened in the list. The relatively small Bytecoin surged more than 50%, landing in the 10th spot, while STEEM dropped to the 12th. As a result, Monero moved up to 9th place, despite shedding more than 3%. The past 24 hours displayed an overall negative trend, with seven out of the top 10 currencies registering losses.

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Posted by eToro