Prices of the most known digital currencies tied to bitcoin and Ethereum dropped on Tuesday, extending their retreat from records set last month.
A single bitcoin BTCUSD hit an all-time high above $3000 on June 11, and traded on Tuesday morning at $2580.28. Meanwhile, Ether dropped to $205.21 from the peak of $395.16 on June 13th.
Despite the recent drop in prices, both bitcoin and Ether have been doing well. Bitcoin’s market value, representing all the value outstanding bitcoins in its network, has risen 160% since the start of the year, making its total market value $42.4 billion. The ascent of Ether in 2017 has been even more impressive, skyrocketing in value 2500% in 2017. The market capitalization almost matched that of Bitcoin last month at its peak, but has regressed to $19.25 billion now.
The total value of both cryptocurrencies currently is about $89 billion.
Ledger X, a bitcoin option exchange received regulatory approval on Monday from the Commodity Futures Trading Commission to clear options trades in digital currencies, more notably bitcoin. This options exchange would be the first of its kind and could add legitimacy and help expand the cybercurrency market.
Bitcoin has also recently been on the news, because many miners, or computer operators who maintain its blockchain network, backed a software upgrade boosting the speed of processing transactions.