Monero (XMR), NEO, and Litecoin (LTC) all struggle to recover in a drowning crypto market.
Monero is currently selling for $248.38, which puts the coin down 5.23% in the past 24 hours.
Monero has been having a rough slide for the past week. XMR was almost selling for $360 last Tuesday and has lost 30% in price since then.
It’s possible that there may be a connection between Monero’s drop and the delay in the MoneroV (XMV) hard fork. According to an announcement, MoneroV is now being postponed to around April 30th (XMV was originally supposed to fork sometime this week). Several reasons have been put forward as to why the delay, including the team claiming that exchanges “need more time to implement the MoneroV technology for them to support the fork.”
However, according to the crypto exchange Bittrex, which tweeted the same day as the MoneroV delay announcement, it wasn’t going to be supporting MoneroV because the development team had yet to contact them. So, who do you think dropped the ball – the exchanges, or MoneroV?
Whichever way you want to look at it, MoneroV has been delayed and Monero is dropping like a fly in the summertime.
NEO is currently selling for $82.44, which puts the coin down 4.43% in the past 24 hours.
In the past week, NEO has lost 23% of its price from last Tuesday.
Last week it was revealed that the NEO network crashed due to a single node – a supposedly impossible concept for the blockchain – so it’s likely that NEO is still in recovery from this. It may be a while yet before NEO fully recovers.
Litecoin is currently selling for $174.76, which puts the coin down 3.24% in the past 24 hours.
Litecoin has been through a few bunny hills in the past 24 hours and will likely have more bumps along the road. Last Tuesday, LTC was selling for over $200 but it has since lost 14%.
All three of these coins are struggling to recover right now. It now comes down to which can recover first.
Featured image: skeeze