Crypto Rankings' Shake-Up Follows Yesterday's Market Crash as Bitcoin Stays Around $3,400

Saturday, Dec. 8 - Amid a new collapse in the crypto markets yesterday, cryptocurrency ranks are continuously changing as various coins overtake each other by market capitalization.

Bitcoin SV, Bitcoin Cash's hard fork that had been ranked fifth yesterday on CoinMarketCap, is now down on the list, with major stablecoin Tether having taken over both BSV and Bitcoin Cash.

Tether's market cap now amounts to over $1.8 billion, while BCH and BSV are almost equal with market caps of around $1.8 billion, also trading at an equal price of around $100 at press time.

Recently, the Winklevoss twins' crypto exchange Gemini announced the listing of Bitcoin Cash custody and trading, adding that their platform will "Only be providing support for the Bitcoin ABC network."

With a current market share of almost 55 percent, Bitcoin has been trading around the $3,450 threshold over the day.

Ripple, the second cryptocurrency by market cap, is down around 1.7 percent over the past 24 hours, trading at $0.29 at press time.

In contrast, Ethereum, the third top cryptocurrency by market cap, is up around 3.8 percent, trading at almost $90 at press time.

Ranked eighth by market cap, EOS is seeing some of the biggest losses among the top 20 coins by market cap.

Total market capitalization is equal to $107 billion at press time, seeing a slight drop over the past hour.

Earlier on the day, market cap had dipped to as low as $103 billion, which is the lowest record since August 2017 - similar to Bitcoin's price dynamics.