The house of cards collapsed overnight.
If you woke up with a sinking feeling in your stomach today, you’re likely not alone – with cryptocurrency markets enduring yet another bloodbath in a year that’s been a feast for bears, both pre-eminent and lesser-known altcoins shed value to touch new 2018 lows.
Amongst the biggest losers, several cryptocurrencies lost more than 20% of their value – leading the pack was Ark, which at press time has dropped by -30.48% to touch $0.5 USD.
The cryptocurrency’s prior selloff triggered shortly after the debut of its new software development kit. For parity, Ark traded at $7.04 USD on January 1st.
Zilliqa similarly fell by some -28.28%, and presently trades at $0.0262 USD. At inception on January 26th this year, Zilliqa traded at $0.136 USD.
Investors further took the opportunity to jump ship from Augur, where REP tokens fell by -27.46% to reach $15.64 USD. REP tokens, which traded at $73 USD at the start of the year, have endured both a token swap and the official launch of Augur’s mainnet.
Despite immense volumes at play on its predictions markets, Augur has endured controversy for the emergence of several ‘illegal’ death markets.
Nebulas collapsed by -26.72% to reach $1.06, down from $5.66 USD at the start of the year. Earlier this year, Nebulas spiked by some 7% in the wake of news that Binance would officially list the cryptocurrency in June.
Nano took fifth place on today’s list of the biggest losers, and fell by -25.87% to dip to $0.868345 USD. The cryptocurrency is worth little more than a fraction of its opening value on January 1st, where Nano debuted at values north of $21 USD.
While many other listed altcoins have bled out more than 10% of their value, the silent king of the hill – Bitcoin – has, at press time, lost little. The pre-eminent cryptocurrency trades for $6,007.99 USD, and is down by -6.59% day-on-day.