After a few days of nearly nonstop green numbers on the price charts, a day like this where most assets retract is inevitable. Almost every currency and token today is in the red by between 2% and 15%. However, bitcoin is holding its place firmly at above $7300.
Bitcoin Holds the Line
Usually, bitcoin prices represent the market overall, similar to how an index fund does with a major stock exchange. That being, when bitcoin is down, everything else is also usually down. But today, what we’re seeing is a lot of altcoins experiencing heavy losses whilst bitcoin has retained almost all of its recent gains and is holding strong at a price point over $7300.
Image from Coin360.io
This represents a number of things. Most importantly, it means that the market’s confidence in bitcoin is fairly high, which is why it’s been able to retain its price point. However, market confidence in a number of altcoins including Ethereum does not seem to be running high right now.
Speaking of Ethereum, the recently beleaguered asset is currently sitting at $450. During the recent run-up, it was maintaining prices of around $500. This means prices have slipped by about 10% from that high.
Salt Loses CEO, Prices Suffer
The crypto lending platform Salt Lending just got a dose of some strange news when the company suddenly released an announcement stating the appointing of what they call an interim CEO. The former CEO ,who was essentially the face of the company and one of the cofounders, Shawn Owen, appears to have left the company. But the circumstances under which he left are unclear. This is all the announcement said about Owen:
Assuming responsibilities from former CEO, Shawn Owen, [Bill] Sinclair will run the day to day business operations of SALT. Owen leaves the company after serving as one of SALT’s Cofounders and CEO since the company formation in 2016.
When we checked Owen’s LinkedIn account shortly after the announcement went live, his page still listed him as being CEO of Salt. At press time, his account still lists him as CEO. This suggests that Owen’s exit from Salt either came as a surprise, or due to an unexpected circumstance.
At this point, we can’t find any clear information on what’s going on other than the particularly vague blog post from Salt Lending itself.
Salt tokens (that run on Ethereum) have been on a strong downward slide for the last few months, and are currently sitting at just over one dollar each. The tokens entered the market at the three dollar range and so are down by more than 66% post ICO. It is also unclear as to whether or not Salt Lending is still operating or giving out new crypto-to-cash loans.
Dash Price Finds a Home (at $250)
Masternode powered and low-cost cryptocurrency Dash has maintained some of its gains that it made in the last run-up. With the coin only down 4% or so today, prices are currently sitting at just under $250 each.
Read also: Best Dash Wallets (2018)
Looking at Dash prices from 30 days ago, the asset has slipped somewhat from $265 to its current $248. Given the current long-term bear market of 2018 and the current crush on altcoins, Dash is doing fairly well for itself in the price department.
If you’re looking to buy a Dash masternode, times like these when asset prices are less than $300 could be a good time to get in if your timing is right. A single Dash masternode at today’s prices would cost $248,000, a far cry from the $1.4 million it would’ve cost you during the January bull run.