CRYPTOCURRENCY

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Over $200 billion wiped off the value of cryptocurrencies

• More than $200 billion was wiped off the value of global cryptocurrencies at the peak of the sell-off
• Bitcoin, ethereum and ripple, as well as other smaller digital coins fell sharply in price
• The sell-off was sparked by talk of tougher regulation in the key markets of China and South Korea

Arjun Kharpal | @ArjunKharpal

Published 3:23 AM ET Wed, 17 Jan 2018  Updated 10:14 AM ET Wed, 17 Jan 2018CNBC.com

The cryptocurrency market just saw a massive sell-off  10:28 AM ET Wed, 17 Jan 2018 | 00:36

More than $200 billion has been wiped off the value of global cryptocurrencies at the peak of the recent sell-off, which extended into Wednesday morning.

At around 7 a.m. London time on Tuesday, the total market capitalization or value of every digital coin stood at $653.8 billion, according to data from Coinmarketcap.com, a website that tracks the price of cryptocurrencies by taking into account the prices across different exchanges.