Altcoin Meltdown Intensifies as Tezos, Ravencoin, VeChain Take the Plunge

Altcoin Meltdown Intensifies as Tezos, Ravencoin, VeChain Take the Plunge

The altcoin market sheds more than $2 billion in value on Tuesday. Bitcoin price approaches $7,200 on major exchanges. Volatile trading conditions follow a surprise announcement by Huobi Group that its U.S. operations are closing. Bitcoin’s gravitational pull on the wider cryptocurrency market was evident on Tuesday, as altcoins lost billions in collective value.