It has not been the best of months for all cryptocurrencies. As one would come to expect, some currencies face steeper losses compared to others. There are also some very peculiar trends taking place which make zero sense. Altcoins never cease to amaze onlookers, that much is evident.
Over the past 30 days, all top cryptocurrencies lost value, with the exception of EOS. That latter altcoin has a net 2.43% gain, which is a lot better than people expect. Most other altcoins don’t even come close to such figures. Ethereum is one of the bigger losers in this regard, although NEO’s dip is even steeper.
Pumping and Dumping Specific Altcoins
Below the top 10, we see other interesting movements. Some altcoins successfully buck the bearish trend. Tron, Binance Coin, Verge, and Ontology also received some hefty pumps from speculators and manipulators. Established altcoins, such as Dash, NEM, OmisegoGo, and Ethereum Classic, all lost nearly 30% or slightly more.
All of this teaches people a valuable lesson. Smaller-cap altcoins are very prone to pump and dumps. This is clearly evident with Tron, Binance Coin, Verge, and Ontology. All of these coins still have everything to prove yet are valued at $800m to$3bn. To the regular onlooker, this makes zero sense, for obvious reasons.
How the next 30 days will evolve, is anybody’s guess. As of right now, there is minor positive momentum, but nothing that will be maintained in the long run. This doesn’t mean we won’t see more pump cycles for altcoins, though. Interesting things are bound to happen in the coming weeks, that much no one can deny.
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