Smaller cryptocurrencies are leading a comeback from the crypto bloodbath

pulse

January 18, 2018 3:56 PM

The crypto market is trying to bounce back from a drop of around $300 billion.

Many of the mid-sized cryptocurrencies are leading the broader comeback of the market.
The crypto market is trying to bounce back from a drop of around $300 billion.

The past couple of days have been rough for crypto traders.

Bitcoin and Ethereum, the two largest cryptocurrencies, are down around 20% over the last week in what many referred to as a "bloodbath." But, the coins that aren't at the top of the market capitalization heap are faring a bit better on Thursday, and are bouncing back faster than the major coins.

Many of the cryptocurrencies with mid-sized market caps are posting double-digit gains on Thursday, as angst from possible Asian market crackdowns fades. The potential for increased regulation or a shutdown in South Korean and Russian exchanges wiped around $300 billion of value from the cryptocurrency markets over the course of a couple days.

According to some market watchers, the bone-chilling declines were just part of a regular pattern for cryptocurrencies, though.