Even the altcoins cannot tear themselves away from the downward spiral of the crypto key currency Bitcoin. A look at the five biggest losers of the day.
The crypto market is going through a severe correction phase that has not been there for a long time. While Bitcoin is searching for the ground, the Altcoins are also tumbling. It is currently particularly intense in places beyond the top 50 in terms of market capitalization. A snapshot.
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5. Reserve Rights Token (RSR)
The Reserve project aims to offer a decentralized alternative to the fiat money system. Reserve uses a dual token system.
The stablecoin RSV (reserve) serves as a currency that can be spent like USD. The RSR token secures rights to RSV units and, in conjunction with other tokens that are used as collateral, plays a role in stabilizing the RSR rate. At the time of going to press, RSR had to pocket a daily minus of 23.5 percent. For Hodler, who have been with us for a long time, this should be manageable, because RSR has risen by an impressive 2,917 percent in the past year.
4. Qtum (QTUM)
Qtum also had to give up a lot. At $ 11.85, QTUM is trading a whopping 24.6 percent below the previous day’s level.
Qtum is a smart contract platform that calls itself a hybrid of Bitcoin and Ethereum. The latest price crash has pushed the all-time high Qtum set at USD 100 in 2018 even further into the distance for the time being. After all: Despite the correction, the Qtum rate is around 70 percent higher than it was 30 days ago.
3. Ravencoin (RVN)
Ravencoin was only marginally harder than Qtum.
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The Bitcoin fork, which became known among other things through the investment of the Bitcoin-affine retail giant Overstock in 2018, has to give up 24.8 percent. In contrast to Qtum, at Ravencoin a look at the monthly balance does not give the holders any consolation: RVN has lost 30 percent. Possibly the Ravencoin Halving expected for January 2022 will give the price a long-term boost again.
2. Ontology (ONT)
The price losses for Ontology (ONT) are on par with Ravencoin.
The network focuses on connecting private and public blockchains. It does not see itself as a single blockchain, but as a framework within which this connection can be established. ONT is currently ranked 83rd among the largest cryptocurrencies by market capitalization. After a promising start to the month, which culminated in a three-year high of USD 2.55, ONT was in a descent, which turned into a nosedive with the major market correction.
1. Siacoin (SC)
The sad leader of today’s Flop 5 is Siacoin.
At 26.8 percent, the SC course had to cope with the bitterest losses of all top 100 coins at the time of going to press. Siacoin is a network that sees itself as a decentralized data store. SC serves as the currency to pay for the exchange and storage of data. Siacoin started a parabolic rally from $ 0.03 to $ 0.061 in the middle of the month. Since April 17th, however, SC has been going downhill again. “Thanks” to the correction, Sia is now trading below the breakout level again.