interested price dump from 3$ or how much its was maxx to 0.23$ omfg i see big lost some some peoples...i am sure soon new pump will happen.
Market cap is still pretty high.. in the top 10. I saw this dump coming a mile away when it skyrocketed to 300+ million market cap. That was just not sustainable.
If it could have sustained adoption then that $300 million market cap was far too small.
And for as long as the rewards system is broken, one could argue the market cap is too high. But as we pointed out upthread, there is probably an equilibrium point at which it is not worth cashing out. I'm nearing that point as my weekly cashout is declining to $10. Soon it will only make sense for me to bother to stop by to transfer to Poloniex biweekly. And then eventually monthly. And then I'll probably just forget. If I was earning any other income, I wouldn't even be bother now with cashing out.
But the whales will probably continue to cash out for a long time, so unless there is some belief by investors that they will grow adoption (or engineer a pump) then it may continue to decline.
Also the ongoing inflation pretty much guarantees selling pressure and the only way for investors to counteract that is to powerup, but that locks up investment for 1 year (weighted average cashout).
I thought it might bottom out, but based on the above maybe not.