Update: Darkcoin selling accelerates, loses nearly 50% in last 24h
Darkcoin (DRK), which had already been today's top loser amongst major Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term, has tanked during the past 6h to as low as 0.0024 BTC- worth $0.74 during the peak of the selling in the crypto markets.
DRK is currently trading 0.0032 BTC, or the equivalent of $1.44, on Cryptsy and MintPal. It is now down by about 47% during the past 24h, sending the coin back to 11th in market cap rank, 7th among mineable currencies. It total valuation is now $6.5 million.
It has thus quite easily broken through its last point of support (0.0035 BTC) remaining from its April-May rally, during which it soared multi-fold. It is now trading at its lowest price since April.
On DRK's subreddit, most of those who bought in at or near $10 remain highly optimistic about the coin's prospects. They blame today's decline on the broad-based selloff in crypto markets. Most pledge that they are continuing to hold on or are buying on the dips to get a better average price.
Darkcoin (DRK), which had already been today's top loser amongst major Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term, has tanked during the past 6h to as low as 0.0024 BTC- worth $0.74 during the peak of the selling in the crypto markets.
DRK is currently trading 0.0032 BTC, or the equivalent of $1.44, on Cryptsy and MintPal. It is now down by about 47% during the past 24h, sending the coin back to 11th in market cap rank, 7th among mineable currencies. It total valuation is now $6.5 million.
It has thus quite easily broken through its last point of support (0.0035 BTC) remaining from its April-May rally, during which it soared multi-fold. It is now trading at its lowest price since April.
On DRK's subreddit, most of those who bought in at or near $10 remain highly optimistic about the coin's prospects. They blame today's decline on the broad-based selloff in crypto markets. Most pledge that they are continuing to hold on or are buying on the dips to get a better average price.