The downfall of the cryptocurrency markets is remaining today, with all significant currencies making ample losses. This decline is not just isolated within the top ten coins, however, overall, the negative trend has swept through the markets and looks to be introducing the majority of cryptocurrencies to mark new lows. This market ‘hangover’ really is diminishing the life out of the majority of cryptocurrencies at the moment.
Of course, some cryptocurrencies are taking more significant hits than others. The markets are sensation-driven and this, investors of different assets perform very differently. Either way with mass-selling taking place overall, we still see some coins worse off than others. Such downfall at the moment seems to be paying heavy focus on VeChain, Bytecoin and Qtum.
Stats about VeChain, Bytecoin & Qtum
At the time of review, VeChain is valued at $3.50, down by 8.63%. This is most tragic for VeChain, a currency that has just made massive improvement through an announcement within the MOBI project and moreover, through an official partnership with PwC Hong Kong and PwC Singapore. Both reports had a profound effect on VeChain, shooting its value up to over $5.00. Now, VeChain sees lows it hasn’t encountered since the middle of April.
Bytecoin isn’t fairing much better. At the time of writing, Bytecoin is valued at $0.006674, down by 8.18%. Bytecoin recently saw gains of 160% in the wake of a new listing on cryptocurrency exchange Binance. Through this, the network grew so much attention; the currency was taken offline for a short time. Once all systems had been fixed, Bytecoin went live again. However, it’s current trajectory suggests by now, it’s too late. The damage of the bear market has affected already, and thus, overall, Bytecoin has seen no benefit in value from the Binance listing. If anything, the listing directly just caused problems.
Likewise, at the time of writing, Qtum is making heavy losses. Valued at $13.15, down by 8.79%, the outlook for Qtum is less than exciting. Qtum hasn’t seen values of this scale since the start of April, and thus, Qtum is experiencing a similar drought to that of VeChain.
This downward trend has overtaken the market, that’s for sure now. When the top currencies take an upswing, though, the rest of the markets will follow on. This is for certain. The only thing we can’t work out at the moment is when this upswing will take place.