Let the Bodies Hit the Floor: Today’s Biggest Cryptocurrency Losers
Just when we thought we were out, it pulls us back in.
A few days ago the market was aiming upwards and gaining momentum, but as the skeptics foretold, there was still some blood to be lost.
Ethereum (ETH) has hit 10% losses for the day already, while Bitcoin (BTC) has shipped around 6% over 24 hours. It doesn’t get any better from there – EOS, IOTA, NEO and Monero have all lost 11% to 14% today, and while the rate of loss has slowed, it hasn’t exactly stopped just yet.
Today’s Biggest Losers
Digibyte (DGB) had a strong week at the start of July, gaining 60% on its value against the dollar in less than seven days.
Today a significant chunk of those gains are gone, as DGB has fallen by 25% over the last 24 hours. From a price of $0.0461, DGB sunk to $0.0344. That still leaves DGB coins around 20% more valuable than they were at last weeks price of $0.028.
Waltonchain (WTC) had struggled to break the $8 barrier all week, and got close at $7.93 just yesterday. Now WTC tokens are down 20% over 24 hours, taking Waltonchain to a price of $6.35. While not an all time low for WTC, it wipes out the slow gains made over the last week and a half, and leaves WTC outside of the top-50.
Even today’s $6.35 is still a significant increase on the launch price of around $1 just last September, meaning WTC is still up 535% in the last 10 months.
Cortex (CTXC) started today at a price of $0.076 before falling to $0.061 less than an hour ago. This marks a 19% loss for Cortex, and marks a huge departure for a token which had been relatively stable over the last couple of weeks.
The price had hovered around the 70 to 80 cents range, but today has seen a straight descent through the seventies and sixties, with the threat of returning to the high fifty cent range now a distinct possibility.
Monaco (MCO) is currently 17% worse off than it was yesterday, going from the high-$9.40s all the way down to $7.90.
Monaco had grown rapidly in the preceding week, going from $7.30 to $10.20 within a few days – a 39% growth, most of which has now been wiped out. What goes up must come down in the crypto market, and that’s the trend that seems to playing out here.
A Positive Note
At the time of writing, there are 5 coins in the top-100 that have recorded a growth for the day. KuCoin Shares, Bitcoin Diamond, Tezos, Bitcoin Gold and GXChain. Most of those are only fractional gains however, and could well be wiped out momentarily.
Featured image courtesy of Shutterstock.