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The cryptocurrency market is facing an intense sell-off as investors are confounded by heightened talk of regulatory scrutiny and infighting over a schism in bitcoin's most notable spin-off, bitcoin money.

At around 1:50 p.m. London time (8:50 a.m. ET), the total market capitalization of all cryptocurrencies that's worked out by multiplying prices from the number of tokens in circulation had fallen to around $138.6 billion, according to CoinMarketCap data.

That marks cryptocurrencies' lowest level since September 2017, and a more than 80 percent decline which translates to almost $700 billion since the peak of over $830 billion their market value attained at the onset of the year.

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Costs were hit by an initial downturn last week, ending months of comparatively stable trading to the world's largest and best-known digital asset, bitcoin an unusual phenomenon for an advantage known for its rampant volatility.

That move came on the back of news which bitcoin money's blockchain essentially an electronic ledger with no central authority overseeing it was put to be divided into website link 2, an event known as a"hard fork"

Forks, that are essentially software upgrades, usually occur when there's a disagreement about how to scale a cryptocurrency to deal with a higher volume of trading, like the August 2017 branch that led to the creation of bitcoin money.

Last week's branch saw bitcoin money cloven into useful site two new, different digital currencies,"Bitcoin ABC" and"Bitcoin SV" short for"Satoshi's Vision" the latter being the brainchild of controversial entrepreneur Craig Wright, who claims to be bitcoin inventor Satoshi Nakamoto.

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As a result, various cryptocurrencies fell, with bitcoin dropping below $6,000 and multiple other electronic assets following suit.

Fast-track to Friday, and the world's largest virtual coin is currently trading at a price of $4,300, down over 4 percent in the last 24 hours, according to CoinMarketCap. Meantime, XRP, an electronic token linked to blockchain company Ripple, dipped 6.7 percent to under 41 cents, while ether, the digital token of the Ethereum blockchain, dropped more than 7 percent to just under $122. .

The Cryptocurrency Market Capitalizations page displays the current market cap rankings for major cryptocurrencies predicated on a currency that you select on top of the page. The page initially displays using"USD" as the crossrate to compute against. The list of cryptocurrencies, along with information for the page, is updated and ranked every 15 minutes.

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