Cryptocurrencies have fallen off their record highs, with the global cryptocurrency market losing nearly $550 billion in just under a month, according to CNBC.
Here are six things to know about the current cryptocurrency market.
1. Bitcoin is down nearly 70 percent from its all-time high of around $19,000, hit mid-December, and as of Feb. 6 at 3 p.m., it is valued at $7,533.
2. Bitcoin's market capitalization hit an all-time high of $835.69 billion Jan. 7, but on Tuesday, it fell to $278.53 billion — a total loss of $551 billion.
3. Ethereum, another cryptocurrency, saw an all-time high of $1,432.88 Jan. 13, but on Tuesday, it was trading around $577, according to CNBC.
4. The third-largest digital coin, ripple, is more than 80 percent below its high of $3.81.
5. The values of ether and ripple are still higher than they were one year ago, according to CNBC.
6. The plunge follows recent news that major U.S. and U.K. banks have taken action to block people from using credit cards to purchase cryptocurrencies. Other countries, like China and India, have taken more serious measures to block the digital coins.
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