Cryptocurrencies Continue Failing on The Market
For those monitoring the cryptocurrency market, it’ll come as no surprise that today, the 14th of August, has also seen yet another drop in prices all over as the bears continue mauling the market in what seems to be this year’s downtrend so far. Alternative coins are significantly dropping in value to hit new lows this year.
So far, those that lost the most are shedding up to 20 percent of their price, a painful number to see for any cryptocurrency. The leading loser among the dropping coins was Ark, taking a heavy blow and dropping a whopping -30.48 percent and landing at around $0.5 on the market. The coin’s previous selloff ensued right after it revealed a new kit designed for software to be used development to be used by programmers and was trading for just over $7 on the first day of this year.
Zilliga also suffered heavily, taking a drop of -28 percent and currently valued at $0.026 in trading value. Previously, on the 26th of January, Zilliga was trading at around $0.136 on the market. Additionally, investors also latched onto the given chance and decided to shift away from Augur after REP coins plummeted 27.4 percent, setting the trade price at $15.64. The RIP tokens were subject to a token swap this year as well as the official initiation of Augur’s main network and were trading at around $73 at the beginning of this year.
Even with intense volumes playing a role in each prediction on the market, Augur has seen its fair share of controversial feedback due to the many illegal “death pools” being run on its platform, where investors would essentially bet on when a celebrity or iconic figure would die.
Nebulas took a knee as well, crashing down by -26 percent and currently valued at $1.06, much lower than its 2018-beginning price of $5.66. Previously in 2018, Nebulas did manage to surge up around 7 percent after Binance, a leading cryptocurrency exchange posted the coin on its platform almost two months ago.
Nano, as of today, was the fifth largest drop in the value of a coin on the 14th of August, taking a heavy drop around -25 percent and valued at $0.868 on the market. As of now, Nano is barely a fraction of its original price at the beginning of this year where the coin saw a value of $21 on the market.