Heavy falls for Cardano and IOTA

August 30, 2018
Chris Wheal

Both Cardano and IOTA fell heavily today. At close to 3pm today Cardano was down more than -8% while both IOTA and Tron slumped more than -11%.

Cardano has traded between $0.098012 and $0.108924 in the last 24 hours. The sell-off saw Cardano’s market cap sink to $2.54B at one point though it later recovered modestly. 

More Bitcoin doubt seeped into markets today; Wiki Commons

Bitcoin slips -3%

Elsewhere Bitcoin was down more than -3.3% to $6,861 while Ethereum slipped -5.7% to $278.42. There were steep falls too for XRP, down -6.5% and EOS, slumping -6.4% to $5.89. Stellar was not immune, down -7.6%. 

However Tether was much more resilient, taking  just an -0.21% hit. Litecoin creator Charlie Lee told CNBC yesterday that flagship crypto Bitcoin was a good buy, still.

“It’s always good to buy on the way down to dollar-cost average your buy-in,” he told the channel. “As long as you don’t spend money that you can’t afford to lose, I think that’s fine.”

It’s increasingly about speculation these days he added, “but, in the future, the price will reflect the success of the currencies”.

Cryptocurrency trading platform Bittrex in Seattle yesterday confirmed its support for trading Cardano and Zcash on its platform from 5 September.

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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