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Crypto Collapse Spreads with Hundreds of Coins Plunging in Value

The meltdown in Bitcoin is weighing on more than the biggest cryptocurrency.

Crypto Collapse Spreads with Hundreds of Coins Plunging in Value
The symbols of Bitcoin and Ethereum cryptocurrencies sit displayed on a screen during the Crypto Investor Show in London, U.K. (Photographer: Mary Turner/Bloomberg)

(Bloomberg) -- The meltdown in Bitcoin is weighing on more than the biggest cryptocurrency.

Over 80 percent of 1,586 digital coins Finder.com tracks in a weekly survey decreased in price in the past seven days. The tokens fell 19 percent on average, Finder.com found in the week ended June 25.

Crypto Collapse Spreads with Hundreds of Coins Plunging in Value

Trading volume dropped as well, declining by 6 percent from the previous week, Finder.com said. Bitcoin, Tether, Ether, EOS and Bitcoin Cash were the top five traded cryptocurrencies. Volume was half of what it was at the end of April, when Finder.com first started releasing its Weekly Coin Analysis.

To contact the reporter on this story: Olga Kharif in Portland at okharif@bloomberg.net

To contact the editors responsible for this story: Nick Turner at nturner7@bloomberg.net, ;Jeremy Herron at jherron8@bloomberg.net, Dave Liedtka, Eric J. Weiner

©2018 Bloomberg L.P.