What happened to Vertcoin? Loses nearly 90% in 3 months, falls to 39th in market cap
After literally going vertical to start the year, Vertcoin has fallen on hard times. It did offer some hope in May when it bounced back, climbing as high as 15th in market cap. A suite of accompanying products and the prospect of achieving that elusive goal of ASIC-resistance helped its cause.
But from there, it's been all downhill. From its May peak, it has shed nearly 90%. It is currently trading at 0.22 mBTC ($0.11) on Cryptsy. From its peak in January, it has lost 95% of its value, which is it at the higher end for altcoins falling off their January-February peaks.
It now ranks 39th in market cap, worth $786,000.
The coin has stabilized over the past few days even as most cryptos have experienced heavy selling and Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term, in a sense displaying a similar resilience as it did in April when most coins were suffering. Optimists will tell you that there simply isn't much room left on the downside, but as we've seen with other coins, there are plenty of decimals before you get to zero.
Some in the community have been quite open that they don't expect a rebound in the near term. There are those hoping that a solid foundation of new features will lay the groundwork for a bright future, while others are hoping it can ride the coattails of a Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term rally. Altcoins have recoupled their behavior with that of Bitcoin during today's recovery, and while Vertcoin has joined the party, it has a lot of ground to make up.
After literally going vertical to start the year, Vertcoin has fallen on hard times. It did offer some hope in May when it bounced back, climbing as high as 15th in market cap. A suite of accompanying products and the prospect of achieving that elusive goal of ASIC-resistance helped its cause.
But from there, it's been all downhill. From its May peak, it has shed nearly 90%. It is currently trading at 0.22 mBTC ($0.11) on Cryptsy. From its peak in January, it has lost 95% of its value, which is it at the higher end for altcoins falling off their January-February peaks.
It now ranks 39th in market cap, worth $786,000.
The coin has stabilized over the past few days even as most cryptos have experienced heavy selling and Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term, in a sense displaying a similar resilience as it did in April when most coins were suffering. Optimists will tell you that there simply isn't much room left on the downside, but as we've seen with other coins, there are plenty of decimals before you get to zero.
Some in the community have been quite open that they don't expect a rebound in the near term. There are those hoping that a solid foundation of new features will lay the groundwork for a bright future, while others are hoping it can ride the coattails of a Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term rally. Altcoins have recoupled their behavior with that of Bitcoin during today's recovery, and while Vertcoin has joined the party, it has a lot of ground to make up.