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

At around 1:50 p.m. London time (8:50 a.m. ET), the total market capitalization of all cryptocurrencies which is worked out by multiplying prices by 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 struck with an initial downturn a week, ending months of relatively steady trading for the planet's biggest and best-known digital advantage, bitcoin an unusual phenomenon for an asset known for its wild volatility.

That move came on the back of news which bitcoin cash's blockchain essentially an electronic ledger with no central authority overseeing it had been set to be divided into two, an event known as a"hard disk ."

Forks, which are essentially software updates, usually occur when there's a disagreement about how to scale a cryptocurrency to cope with a greater volume of trading, such as the August 2017 branch that caused the creation of bitcoin cash.

Last week's branch saw bitcoin cash cloven into two new, separate digital currencies,"Bitcoin ABC" and"Bitcoin SV" short for"Satoshi's Vision" the latter being the brainchild of controversial entrepreneur Craig Wright, who promises 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 lawsuit.

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

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

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