Waltonchain Price Drops Below $20 as Social Media Controversy Takes its Toll

The world of cryptocurrency is always full of surprises. Some of the market movements are not entirely surprising, although that doesn’t make them any less intriguing to keep an eye on. The Waltonchain price, for example, has seen a massive dip over the past 24 hours thanks to their social media campaign turning into a bit of a disaster.

Waltonchain Price Takes a Major Beating

Even though the start of 2018 was not all that terrible for WTC, things have taken a big turn for the worse. More specifically, in the first weeks of 2018, we have seen the Waltonchain price from $10 all the way to $40. Such spectacular gains are not uncommon in the world of cryptocurrency, even though this value is driven by speculation first and foremost.

In a way, it is not entirely surprising to see the Waltonchain price come down after that spectacular uptrend. With the value dropping from $40 to $20 in a matter of days, the speculators have cashed out their profits and flocked to a new currency altogether. Ever since that time, we have seen a few positive spikes for the Waltonchain price, but nothing that could effectively form a new support level. It now seems things will continue to go down from here, at least for the foreseeable future.

Thanks to the recent social media campaign blowing up in the team’s face, the Waltonchain price is now suffering from another 10% decline. This pushes the Waltocnhain price down to below $19.5, although it is expected this value will go a bit lower in the coming hours. It also represents an 11.15% decline in BTC value and an 11.06% loss over Ethereum. Not a positive trend for Waltonchain, but it is entirely justifiable at this time.

With just $32.58m in 24-hour trading volume, the demand for Waltonchain is not there either. In fact, one could argue things are not looking all that great for this particular altcoin as of right now, even though the opinions will certainly be divided on that front. With more and more people now doubting the honest intentions of this company and its staff members, it remains unclear whether or not the future Waltonchain price will improve or not. People tend to forget these sorts of setbacks rather quickly, though.

As of right now, Binance is the only cryptocurrency exchange generating any notable WTC trading volume. Their BTC and ETH pairs combine for over 93% of all trades, which is not entirely unexpected. Coinnest completes the top three, although their WTC/KRW pair isn’t even generating $1m in volume right now. Binance’s BNB pair is in fourth place, with Kucoin’s WTC/BTC market completing the top five. No non-KRW fiat currency pairs for Waltonchain can prove to be a big problem when looking toward the future, although it is unclear how things will evolve in the next few days and weeks.

The way things look right now, we will see a further Waltonchain price decline throughout most of the day. That doesn’t mean the market will not recover eventually, but for now, it may not make for the best of investments whatsoever. At the same time, every dip is an opportunity to buy in and score big profits when the market recovers eventually, Whether or not the Waltonchain price will ever return to $40 or more, remains impossible to predict as of right now.