If there’s one thing we know for sure about the crypto market is that things are not looking good. The crypto market started losing value ever since January came around and this is causing everyone to panic and sell their stocks. To get an idea of how grim the situation is looking, readers should know that Bitcoin who is the leader of the market lost up to 30% of its value during these past 24 hours.
There are many speculations to why the market is going down, but the most reoccurring one is related to Asia’s influence over the crypto market. As many of you might already know, China decided to ban crypto trading a while ago and now, South Korea is following in its footsteps.
Korean authorities made it clear that it wants to ban all crypto trading and this influenced stock investors who live in that area to pull out their funds, thus causing the market to crash. Things get even worse since China announced that it plans on expanding its crypto ban in the hopes of completely ending all Bitcoin and altcoin trading.’
Ripple Goes Down
The one altcoin that’s suffering the most is Ripple XRP. This is quite surprising since Ripple saw a major value boost in 2017 which made it reach the $3 milestone. However, one XRP token is valued at $1.07 as of now and its total market capitalization measures in at over $41 billion.
Neblio Keeps Growing
What’s interesting is that while the entire crypto market is suffering, there is one altcoin that’s growing in value. We are talking about Neblio (NEBL/USD) which is the only altcoin to gain value during this grim time. Neblio gained 13.70% against the US Dollar in the last 24 hours. From the looks of it, investing in Neblio might be the right choice.