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Cryptocurrency crash: Top 10 biggest drops 15 March 2018

Posted: 15 March 2018 11:30 am
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Cryptocurrency prices are plummeting, but some coins are really going for it, dropping over 20% in 24 hours.

These are the biggest losers at the time of writing, with some of the largest 24 hour drops around.

Prices and shifts are at the time of writing, of the top 100 coins by market cap, according to CoinMarketCap.

1. Electroneum – down 22.7%

A straightforward Monero fork with few discernible applications. Electroneum is distinguished by its attached mobile phone game that simulates mining, using your phone battery and data without giving any actual reward, to help convince newcomers of the usefulness of cryptocurrency.

2. ChainLink – down 21%

A blockchain middleman, designed to let smart contracts connect to external data sources such as market information, other blockchains and bank accounts.

3. Dent – down 21%

A mobile network token used to purchase mobile data on an open marketplace.

4. Nexus – down 18.8%

An ambitious project that uses a kind of "blockcube" rather than a blockchain, with the eventual goal of creating a global network through a series of ground-based nodes and micro-satellite nodes. Currently one of very few projects that claims to be quantum proof.

5. Golem – down 18.3%

A distributed computing network token, designed to let people buy and sell their processing power as needed.

6. Ark – down 18%

A token focused on cross-chain compatibility, and bringing the benefits of multiple blockchains to each other. It's characterised by an eight second block time for snappy transfers, and extremely high mining rewards for the master nodes. Even with the current price slump its 51 "decentralised" node operators are earning well over $1,000 worth of ARK per day.

7. Syscoin – down 18%

Syscoin is a decentralised marketplace token. Despite some ups and downs it's been having an overall painful week. Binance's announcement of its own decentralised exchange might have seen some users sell off.

8. Augur – down 17.9%

A crowd predictions token, allowing users to essentially bet on the future. Individuals with a penchant for prophecy can earn returns, while the collective bets of the community can be assembled into cogent predictions which tend to be more accurate than those of individual experts.

9. ICON – down 17.5%

ICON aims to become the blockchain network of South Korea, crossing industries and tying the country's businesses and individuals together. By all appearances it's well underway, but this has rarely been reflected in its prices. Perhaps it's no longer cool and edgy enough to attract local speculators.

10. Dragonchain – down 17.2%

A token initially conceived in Disney as part of its experiments into blockchain applications, with a focus on intellectual property management, and then hatched outside by its creators who left to pursue it.

The token itself functions as a kind of software license, while the Dragonchain system is designed to allow for highly specific and customisable blockchain creation across a wide range of industries that can benefit from highly tailored blockchain solutions.

Disclosure: At the time of writing the author holds ETH, IOTA, ICX, VEN, XLM, SALT, BTC, NANO

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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