Paycoin Price Drop Continues！Paycoin Now Trading at $3.10！
Paycoin Continues to Plummet
Paycoin (XPY) has continued to drop in the last 24 hours. Yesterday, it was trading at $5.16, but today, it is trading at $3.10.
Since it has broken below $4.00, the price for which miners at GAW converted their Hash Points to XPY, the sell off is likely to continue further.
Unfortunately, No Floor at $4.00
We were surprised that GAW was not able to manage the floor at $20 as announced, but we were hoping they would be able to keep the floor at above $4.00, which was supposed to be the 'bargain' price at which Hash Point owners exchanged their Hash Points to Paycoin.
We figured that with a supposed war chest of $100 million, the current daily transaction volume of $800,000 could easily be absorbed even if 1/3 of funds were already used earlier. Apparently, that was not the case.
Paycoin Drops More than Any Other Coin in the Top 10
All cryptocurrencies are plunging today, but Paycoin continues to drop the most among all the coins in the top 10 in terms of market value. It has fallen by 42.45% in the last 24 hours according to coinmarketcap.com.
We would like to see a correction in Paycoin's value in the near future, but since it has broken the $4.00 line, it may take a while for all the selling to come to an end.