Is there any reason why price is dropping so fast?
lol just look al almost every coin listed on kucoin. All these coins were gaining so much so fast past week, just a normal correction. We cannot go straight up. We need fuel for the next run

Its just a low market cap coin. It does not take much for it to drop hard. Always expect low market caps to be extremely volatile. Important thing is not to be an amateur and panic sell. Through experience this is always a bad idea! Even if it takes a bit to recover, in the long term you are always better off just holding. ELIX will shoot back up just as quickly as it shot down. Wait til they release something.
Forget about it for now and take the time to read some whitepapers and educate yourself.