Cryptocurrency markets are going through a major slowdown and prices of almost all cryptocurrencies are on a decline. Factom too, has faced a major fall in its price and has fallen by 20% over the past 24 hours. The price of Factom (FCT) dropped from $32 to $22. This 20% drop seems huge, but there have been some cryptocurrencies which have suffered worse.
Ethereum, Ripple and Tron have witnessed major falls as their prices fell by 25%, 32% and 36% respectively. Past few weeks have been plagued by market FUD which have allowed bears to control the markets. Factom's price is now down to $25 and as of now there's no certainty as to which way it may go from here.
Factom has been a popular name in the markets - and it picked up even more steam after John McAfee mentioned
it in his Tweets as the cryptocurrency of the week. Factom's market cap too has been on a decline. It has fallen from an all-time high of $685 Million down to $222 Million. This week itself, the market cap has fallen by 50% from over 400 Million to 200 Million.
Factom (FCT) is a popular name when it comes to the world of cryptocurrencies. The currency has been around for over 2 years now and it is trusted by a large number of investors and market experts. Factom price peaked at $78 in early January. However after hitting the all-time high mark, the currency has been on a constant decline. It has now fallen by 68% since it hit the all-time high.
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