KXIP vs KKR Live Score

For cryptocurrency investors who don't know where to start, here's a brief overview of 12 of the most popular alternatives to bitcoin that could be in for huge years in 2018.

The move appears to have taken place just before 5 a.m. UTC (1 a.m. ET), when a steep, $35 billion drop in the total market cap of cryptocurrencies can be seen in CoinMarketCap's data.

CoinMarketCap, which did not announce the change and did not respond to a request for comment, now shows 7,556 reporting markets for its 1,386 displayed cryptocurrencies on its website. Until January 8, the price stayed near $3 but fell in the closing hours when Coinmarket cap removed some South Korean exchanges for "extreme price divergences".

That caused confusion among investors and partly contributed to a major sell-off, also fuelled by news that South Korean and Chinese regulators planned to increase monitoring of trading and mining. Some investors are deciding to hold their positions and other investors are cashing out of the cryptocurrency market - especially in Bitcoin after it recently reached $19,000-plus. That pushed Ripple's market capitalization down to $98.5 billion, and lifted Ethereum's value to $111.9 billion, according to data firm CoinMarketCap.

The price of Ripple, the third-largest virtual currency, fell as much as 20 percent on Wednesday.

On Monday, South Korean regulators inspected six local banks that offered cryptocurrency accounts to see if they were observing anti-money laundering rules.

"The most obvious point is how undeveloped the ecosystem supporting bitcoin and cryptocurrency trading still is", said ABC Bullion chief economist Jordan Eliseo.

"Right, might be useful to notify people of things like this before or as you execute to avoid crashing the market, thanks", one investor wrote on Twitter. This makes it impossible to value using conventional metrics and therefore could be worthless, or may rise to $5 per Ripple coin in the future.

Volatility is certainly significantly greater than the more traditional asset classes and with it, the bad news swings continue to be more significant.