Cryptocurrency Sell-off: Altcoins Are Erasing Last Week Gains

Cryptocurrency Sell off

Altcoins had outperformed bitcoin price growth last week: Altcoins rose substantially last week on expectations for lower regulatory actions from G20 countries. Cardano (ADA), Stellar (XLM), EOS (EOS) and IOTA (MIOTA) were among the prominent gainers despite some price correction at the end of the week. EOS posted weekly price growth of 40%, while Cardano and Stellar ended the week with mid-single digit gains.

Altcoin, however, started this week in the red; the majority of coins are declining at a high mid-single digit rate today. The broader selloff in crypto markets impacted altcoin prices. Also, the …

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