Meanwhile, Chainlink (LINK) is leading the loserboard with a whopping 21 percent plunge. It is currently trading at $3.16, which is its lowest level since the beginning of February.
LINK and MATIC are among the biggest losers
The rapid decline of LINK is quite remarkable given that it’s now one of the worst-performing cryptocurrencies of the top 100. It’s only lagging behind Blockstack (STX) and Matic (MATIC), which are both down more than 26 percent, and several other medium-cap altcoins.
Of course, there is nothing shocking about such price drops. To put this into perspective, the price of Matic (MTC) flash-crashed by nearly 70 percent in no time on Dec. 10.
When the entire U.S. stock market is trading like a volatile cryptocurrency, altcoins losing more than 20 percent of their value overnight seems even more casual.
Looking for a safe haven
Bitcoin (BTC), which has just dropped to a new intraday low of $7,467, is behaving like a typical risk-on asset but its six percent drop still looks relatively mild compared to some of the aforementioned altcoins.
Meanwhile, if you are looking for a safe haven in crypto, Bitfinex’s LEO token, the only major cryptocurrency that has stayed in the green, might be your best bet. The same…