It's a rubbish pre-mined coin with no purpose and people are dumping their airdropped coins.
Exactly, what's surprised me is that it didn't happen before, i bet that exactly the same will happen on bitcoin cash, yes?
It was overhyped and now it's going to die. People got their free coins overhyped it to cash out and get free money basically.
Well not everybody, there will be always people who invest on things like that...