Market’s been through a change of decoration and not everyone’s happy except the hoarders.
So far, the market has lost almost $13 billion in market capitalization. Could it go any low? The answer is that it could. It’s cryptocurrency after all.
Let’s take a look what went down today.
The king lost $300 in price and $6 billion in market capitalization. It’s at the lowest of the day at press time with USD price of $3,298, 10% below the opening today.
We’ve come a long way from breaching the $6,700 resistance value to barely staying afloat.
From $0.32 to $0.39 press time, XRP has lost almost $2 billion in market capitalization with 10.2% of decrease.
Losing $13 in price and $2 billion in market capitalization was the 3rd largest cryptocurrency by market cap’s day today. It’s still overtaken by XRP, falling $3 billion behind.
The rest of the currencies fell like dominoes beneath the weight of the top three. Herd mentality at its finest.
Factom, the best performer a few days ago had it the toughest. Went down by 24% only today.
Rationally, with no stable assets to hold on to, all this shouldn’t be surprising but still is.