Nearly one month ago, Auroracoin (AUR) made its inaugural “Airdrop”, showering Icelanders with 31.8 AUR each. At the time, each AUR was worth roughly $11.50, making for a total haul of around $360 per person. Today, each coin is worth $0.70- a drop of close to 95% in less than a month.
It now sits in 30th spot in market cap with a total valuation of $880,000- below the psychologically significant $1 million threshold. It is now worth less than several obscure, previously-unheard-of coins like MarineCoin and FlutterCoin.
While the dump was clearly in the making, the sheer scale of loss and its taking place over only a few weeks make it one to remember. It was less than two months ago that its addition to coinmarketcap.com catapulted it ahead of Litecoin for 2nd place among mineable cryptocurrencies, and a market cap of over $1 billion. Even while accounting for changes in how coin supply was accounted for since then, its value has dropped by over 99% since that peak.
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What’s more interesting, is that Coinkite, who supports Bitcoin point-of-sale solutions, is considering Auroracoin for its continuing launch of altcoin support. On its site, it lists multiple criteria for a coin’s acceptance. These include: direct exchange to fiat on some exchange, based on Bitcoin’s code, not be overly embarrassing to promote and a deep-linkable blockchain explorer.
Auroracoin currently is classified in the “open” status along with several other altcoins. Their addition hinges upon their meeting all criteria by some point in the future. Litecoin and Testnet had previously been added, while Ripple and Namecoin have been rejected. Blackcoin, currently ranked 9th in market cap, is the most recent addition.