All of Top 100 Cryptocurrencies See Red Amidst CFTC Price Manipulation Probe

Sunday, June 10: crypto markets have seen a sharp drop today, in the wake of the news that the US Commodity Futures Trading Commission has launched a probe into four major crypto exchanges.

All of the top-100 cryptocurrencies by market capitalization are in the red over the 24 hours to press time, while total market capitalization is down by about $20 bln over the same period, according to Coinmarketcap.

Bitcoin has lost just shy of 5 percent of its value in the past 24 hours, currently trading at $7,244.

After losing around 6 percent in 24 hours to press time, the coin is trading at around $568.Ethereum price chart.

Among the top ten cryptocurrencies by market capitalization, IOTA and EOS have suffered the largest losses over the past 24 hours, according to Coinmarketcap.

It is now trading at $13.12.The sharp decline in cryptocurrencies' prices takes place in the wake of the news that the US Commodity Futures Trading Commission has requested trading data from crypto exchanges Bitstamp, Coinbase, itBit and Kraken.

These are respectively the 21st, 14th, 45th and 13th largest exchanges in the world by trade volume, according to Coinmarketcap.

Following the launch of Bitcoin futures trading by CME Group in December 2017, the four exchanges subpoenaed by the CFTC, have been providing price data for CME Group.

The CFTC's request is a part of an investigation into whether there is any activity taking place on these platforms that might constitute crypto price manipulation.

This event is unlikely to have significantly impacted the price action on the markets, with Coinmarketcap data showing that Coinrail is the 99th largest crypto exchange, with a trading volume of "Just" about $2,5 mln.