Crypto Wipeout Deepens to $640 Billion as Ether Leads Declines

Ethereum co-founder says blockchain growth is near a ‘ceiling’
Bitcoin slips as SEC suspends two securities linked to crypto

The days of explosive growth in blockchain have likely come and gone, co-founder of Ethereum says. Eric Lam reports.(Source: Bloomberg)

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By Adam Haigh and Eric Lam

September 9, 2018 at 8:06 PM EDT

Updated on

September 10, 2018 at 11:32 AM EDT

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The cryptocurrency bear market plumbed a fresh 10-month low on Monday as Bitcoin’s biggest rival tumbled and U.S. regulators suspended trading in two securities linked to digital assets.

Ether, the second-largest virtual currency, slumped 11 percent from its level at 5 p.m. New York time on Friday, according to Bloomberg composite pricing. Bitcoin declined 2.4 percent, while the market capitalization of digital assets tracked by CoinMarketCap.com shrank to about $197 billion -- down almost $640 billion from its January peak.

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