Top Coins Continue to Decline, Bitcoin Drops to $8,300 Threshold

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Friday, Oct. 11 - Major cryptocurrency markets have continued sliding over the day, with only three coins in the top-20 list reporting gains.

The top cryptocurrency Bitcoin is trading at around $8,355, having lost 2% on the day at press time.

The majority of the decline took place over a period of just 1 hour earlier today, when the coin slumped from $8,734 to $8,404.

"Now that Bitcoin is a big kid, anything can make it move, just like anything can make gold or a G-10 currency move. Bitcoin is part of the financial landscape in a very intertwined and mature way."

The second-largest coin by market cap, Ether, is also suffering a slump.

After losing 4.66% in 24 hours to press time, the coin is trading at around $181.86.

XRP has dropped by 1.35% on the day and is trading at around $0.269 at press time.

Earlier today, the coin saw an upswing to $0.275, after which it has been reporting a gradual decline over the course of the day.

The third winner on the top-20 list is Cosmos, which is struggling to remain in the green, having gained modest 0.88% to press time.

Total market capitalization of all digital currencies is around $224,8 billion at press time.

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