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The cryptocurrency market is facing an intense sell-off as investors are confounded by heightened talk of regulatory scrutiny and infighting over a schism in bitcoin's most notable spin-off, bitcoin money.

At around 1:50 p.m. London time (8:50 a.m. ET), the entire market capitalization of all cryptocurrencies which is worked out by multiplying costs by the number of tokens in circulation had fallen to around $138.6 billion, according to CoinMarketCap data.

That marks cryptocurrencies' lowest level since September 2017, and a more than 80 percent decline which translates to almost $700 billion since the peak of over $830 billion their market value reached at the start of the year.

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Costs were struck with an initial downturn a week, ending months of comparatively steady trading for the world's largest and best-known digital advantage, bitcoin an unusual phenomenon for an asset known for its wild volatility.

That move came on the back of news that bitcoin cash's blockchain essentially an electronic ledger with no central power overseeing it was set to be divided into two, an event known as a"hard fork"

Forks, that are essentially software updates, usually occur when there's a disagreement about how to scale a cryptocurrency to cope with a greater volume of trading, such as the August 2017 fork that caused the creation of bitcoin cash.

Last week's branch saw bitcoin cash cloven into two new, different virtual currencies,"Bitcoin ABC" and"Bitcoin SV" short for"Satoshi's Vision" the latter being the brainchild of controversial entrepreneur Craig Wright, who claims to be bitcoin inventor Satoshi Nakamoto.

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As a result, various cryptocurrencies fell, with bitcoin dropping below $6,000 and multiple other digital assets following suit.

Fast-track to Friday, and the world's largest virtual coin is trading at a price of $4,300, down over 4 percent in the last 24 hours, according to CoinMarketCap. Meantime, XRP, an electronic token associated with blockchain company Ripple, climbed 6.7 percent to below 41 cents, while ether, the digital token of their Ethereum blockchain, dropped more than 7 percent to just under $122. .

The Cryptocurrency Market Capitalizations page displays the current market cap rankings for important cryptocurrencies predicated on a currency that you select at the top of the page. The page initially displays using"USD" as the crossrate to compute against. The list of cryptocurrencies, along with data for the webpage, is updated and ranked every 15 minutes.

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