Unfortunately for traders, the crypto market's rebound was short-lived and declines are being seen across the board on Wednesday morning.
According to Coin Market Cap, the entire value of the crypto market has tumbled 3.1% over the last 24 hours to approximately US$249 billion.
This decline comes as a little bit of a surprise given the fact that the industry was given a bit of a lift yesterday when Facebook reversed its cryptocurrency advertising ban. Although the social media giant will continue to ban ICO advertising, it will allow pre-approved advertisers to promote legitimate crypto businesses and services.
Here is the state of play on Wednesday morning:
The Bitcoin (BTC) price has fallen 1.4% since this time yesterday to US$6,177.10 per coin, reducing the world's largest cryptocurrency's market capitalisation to US$105.7 billion.
The Ethereum (ETH) price has sunk 4.5% lower over the last 24 hours to US$440.65 per token. Ethereum's market capitalisation now stands at US$44.2 billion. It fell to a three-month low overnight.
The Ripple (XRP) price has dropped 2.4% over the period to 46.85 U.S. cents, leaving the alt coin with a market capitalisation of US$18.4 billion.
The Bitcoin Cash (BCH) price has tumbled a sizeable 5.2% to US$718.94 per token. This has reduced the Bitcoin spin off's market capitalisation to just under US$12.4 billion.
The EOS (EOS) price has been the worst performing major coin with a 5.6% decline since this time yesterday to US$7.77 per token. This leaves EOS with a reduced market capitalisation of just under US$7 billion.
Outside the top five it was a similar story. In fact, only three of the top 50 coins were in positive territory over the last 24 hours.
The Litecoin (LTC) price has fallen 4.4%, Stellar (XLM) is down 3.2%, Cardano (ADA) is off 4.7%, new entrant to the top ten, Tether (USDT), is down 0.2%, and IOTA (MIOTA) has dropped 4.1%.
