The market capitalization of all cryptocurrencies has suffered massive loss in the first quarter of 2018, data shows.
The capitalization of the combined crypto markets dropped by 59 percent since the start of January, Coinmarketcap data indicates.
It has been estimated that in the first three months of this year, the value of all cryptocurrencies plummeted by more than $300 billion - from approximately $610 billion to below $300 billion.
The total market capitalization of the combined cryptocurrency markets was $618 billion at the start of January. After rising to roughly $820 billion on January 8, the capitalization of the crypto markets dropped by almost 70 percent and shrunk to a low of $250 billion by end of March.
Coinmarketcap report doesn't include data from South Korean exchanges.
The top ten cryptocurrencies by market cap suffered Q1 losses ranging from 24.9 percent to 77.7 percent.
Bitcoin performed better than many of its leading competitors, while some altcoins didn't survive the crash.
The most popular cryptocurrency suffered an approximately 50 percent loss in value since the start of 2018.
The market capitalization of bitcoin was about $236 billion at the start of January, and fell to $115 billion at the end of Q1 2018.
Ethereum reclaimed its position as the second largest cryptocurrency by total market capitalization, followed by Ripple, Bitcon Cash and Litecoin.
by Joji Xavier
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