- Altcoins fell with bitcoin yesterday—but, like BTC, are showing modest recovery today.
- The biggest winner of the day was Contentos’s COS, which saw its price pump 158%.
- Most other coins in the top 200 say modest single-digit boosts.
When bitcoin sneezes, altcoins get the flu. That’s probably a bad joke to make right now, but you get the point: As goes the market for bitcoin, so go the thousands of other cryptocurrencies whose fate is pegged to the mother of all blockchains. And, with BTC itself falling 10% yesterday alone, it was hardly surprising that the market cap for crypto overall dropped $40 billion from Saturday through Monday.
But now that the market appears to be recovering a bit, so are altcoins, with the vast majority of the top 100 seeing modest gains. The big winner of the day (at least in the top 200 coins on CoinMarketCap) was Contentos. The content-management system’s native token, COS, is on the Binance Coin platform and enjoys a $36 million market cap, making it the 107th most valuable coin. Today, it saw a 158% pump—to $0.03.
Who knows why! But hearty congratulations, to the Contentos whale, from the entire Decrypt team…
A fine day for Contentos via Coinmarketcap.com
Elsewhere, gains were far less spectacular. We took a look at some of the better known altcoins to see how they’re doing. (The numbers next to them represent their ranking on CoinMarketCap).
Coronacoin (NCOV) #N/A
If any altcoin should be benefiting from the ravages of covid-19, it’s the Coronacoin. Yet it isn’t listed on CoinMarketCap, and it’s so low on CoinGecko, we couldn’t find a ranking associated with it. The NCOV token allows traders to bet on the new coronavirus epidemic, and it’s stumbling. In the last 24 hours the token saw a 25 percent drop in price, according to CoinGecko.
At the end of February, NCOV was $.03. It was $.0015 when I looked early today. Oddly, the value of the altcoin is supposed to increase when people die, because…