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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 entire market capitalization of all cryptocurrencies which is exercised 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 also a more than 80 percent decline that 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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Prices were struck by an initial downturn last week, ending months of relatively steady trading to the planet's largest and best-known digital asset, bitcoin an unusual phenomenon for an asset known for its rampant volatility.

That move came on the back of news which bitcoin money's blockchain essentially an electronic ledger with no central power overseeing it was set to be split into 2, an event known as a"hard disk ."

Forks, which are essentially software upgrades, usually occur when there is a disagreement about how to scale a cryptocurrency to cope with a greater volume of trading, such as the August 2017 fork that caused the creation of bitcoin money.

Last week's fork saw bitcoin money cloven into two new, separate virtual currencies,"Bitcoin ABC" and"Bitcoin SV" short for"Satoshi's Vision" the latter being the brainchild of controversial entrepreneur Craig Wright, who claims to be bitcoin inventor Satoshi Nakamoto.

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As a result, various cryptocurrencies fell, with bitcoin dropping below $6,000 and several other electronic assets following lawsuit.

Fast-track into Friday, why not try here and the world's largest virtual coin is trading at a price of $4,300down over 4 percent in the last 24 hours, according to CoinMarketCap. Meantime, XRP, a digital token linked to blockchain company Ripple, climbed 6.7 percent to under 41 cents, whilst ether, the digital token of the Ethereum blockchain, fell more than 7 percent to just under $122. .

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

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