Recent gainers from the altcoin ranks underwent the biggest corrections on Thursday, as $11 billion was wiped off the global market in the space of a few hours.
The flash dip continues to edge slowly downwards at time of writing, with Bitcoin already down 7% in a fallback to the $3,800 range. Ethereum’s fall was twice as severe, as ETH fell 13% back down to the $130 range.
But, as always, it’s the recent winners who get slaughtered the most in a bloodbath, and that held true on Thursday too, as Holochain (HOT), NEO (NEO) and Pundi X (NPXS) all lost close to, or more than, a quarter of their market caps.
Holochain (HOT) Price
Holochain surged to 92% gains in the past two weeks alone. The HOT token value took several leaps forward from December into January, and clocked in 25% growth upon the release of the latest Weiss Cryptocurrency Ratings. That was followed soon afterward by a 31% leap fuelled by mainstream media attention regarding the upcoming token swap to Holo Fuel.
Most of that progress was wiped out Thursday morning, as HOT fell 27% in value, from a price of $0.000762 down to $0.000553. Binance remains the source of most liquidity for HOT trades, and its BTC and ETH markets account for close to 85% of the total daily volume.
NEO momentum built all throughout December and January, as the coin price soared past monthly highs and returned to mid-November levels in the high $9 range.
When the dip struck, NEO was hit for around 16% of its market value, falling from a coin price of $9.77 down to $8.17.