Cryptocurrency Market Update: Correction Deepens as Coin Values Approach 2018 Lows

This time yesterday the crypto marketplace was nosediving, and as has turn customary use in such times, links to suicide prevention hotlines were posted on renouned crypto forums.

But amid the flurry of red candles stood one unapproachable immature column; and a token which showed 60% gains while all else sank.

GTC tokens started yesterday at a cost of $0.125, and by the end of the day the value had surged to $0.20.

However, in the last 24 hours all of those gains have been wiped off the table, and Game.com has even been forced to compensate seductiveness on those gains as the token cost has since sunk to $0.114 – a cost even reduce than it started at before the spike.

GTC had spent most of the month within the $0.09 – $0.13 range,

What the crypto marketplace giveth, the crypto marketplace taketh divided – or at slightest that’s how it mostly seems to play out. The Game.com group might have been somewhat too confident at this time yesterday, when they tweeted out the celebratory exclamation:

“GTC TO THE MOON CONFIRMED!!!”

Pump and Dump?

Looking at the figure of the GTC’s weekly graph, the healthy arrogance would be that it has been the plant of a siphon and dump.

Game.com’s 24 hour trade volume increasing by an astronomical 3500% – starting yesterday with a daily volume of around $2 million, before jumping to $72 million just a few hours ago. That volume has forsaken back down to the $40 million operation in the last 4 hours, and continues to fall.

Such movements are not odd among tokens reduce down on the market cap Top-100. Indeed, Game.com finds itself positioned in 96th spot, with a gratefulness of $87 million, among other coins which have gifted assumed marketplace movements in new weeks, such as Enigma, Funfair and Decentraland.

This time yesterday GTC had damaged into the Top-70’s, but now faces the tender of dropping out of the Top-100 entirely.

All Roads Lead to Tether

Nearly 60% of GTC’s sum trades in the last day have come from Gate.io, where $30 million value of trades were made opposite USDT. The second top volume of trades also came opposite USDT on the OKEx exchange.

Only 14% of the sum trades have come opposite BTC, while ETH trades only criticism for around 10% of the day’s volume.

Yesterday’s spike outlines the top marketplace gratefulness reached by GTC since Apr 22nd, when the value of one token surged to a cost of $0.45, which was even aloft than the $0.35 gratefulness achieved during the spike of January.

Game.com aims to turn a media heart for the gaming industry. The team’s annoucement states:

“Through the origination and formation of diversion content, we yield ready-to-go party services and focus sourroundings to promote the fast enlargement and growth of blockchain technology.”

Featured picture pleasantness of Shutterstock. 

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4.5 stars on average, formed on 12 rated postsGreg Thomson is a full-time crypto author and digital nomad. He cooking ICOs for breakfast and bleeds altcoins. Wherever he lays his open pivotal is his home.


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