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Bearish Correction in Cryptocurrency Market: Cardano, Ontology and VeChain drops by 40 to 50%

The Cryptocurrency market is under the bearish correction again and all the major currencies in the market are suffering from great loss. The currencies such as Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, but the currencies who are suffering from around 40% to 50% loss are Cardano, Ontology, and VeChain in the course of two weeks.

Since the high values of 26th June, the cryptocurrency market has got over $100 billion has quitted the total worldwide market capitalization.

Current Status of Cardano: Currently, the currency is trading at the value of $0.0058195 USD and its value is decreasing by -7.52%. The market capitalization of the currency is $1,508,833,915 USD and the 24-hour volume of currency is $117,480,994 USD. The circulating supply of the currency is 25,927,070,538 ADA.


In the previous three months, ADA value has almost got doubled and the launch of Cardano’s first staking test was the exciting news for the investors and non-investors. These are all who wait for a long time to reap profit from Cardano. The news assisted Cardano value to surge almost around 25% in the days leading up to June 26th high, but the gains could not be remains for long. Since then, the price of Cardano has decreased from $0.106910 to the value of $0.060580, making it decrease of value by 43%. Today, the value of Cardano has decreased even more.

Current Status of VeChain: Currently, the currency is trading at the value of $0.005632 USD and its value is currently decreasing by -6.83%. The market capitalization of the currency is $312,303,681 USD and the 24-hour volume of the currency is $28,395,752 USD.


The recent loss in the cryptocurrency market has also affected the chain value. The currency has collaborated with Walmart China, which then caused a surge in its value. The currency’s value has surged around 25% in June when the news of VET collaborating with Walmart came out. Yet the currency’s value got a decrease in the course of 18 days and from the high of $0.010624, the value decreased to the value of $0.005632 at the present time trading value. The VET value has registered the loss of around 46% in the course of 3 weeks.

Current status of Ontology: At the time of writing, the value of Ontology was trading at the value of $0.896612 USD and its value is decreasing by -7.87%. The market capitalization of the currency is $478,122,803 USD and the 24-hour volume of the currency is $142,413,272 USD.


The currency was increasing since the starting of the year and in the previous quarter, the value of the coin was almost doubling its value, but there is no bullish movement in the currency’s value since a previous couple of months that concrete anything in the value. Since the high of June 26th, the Ontology’s value has decreased from $1.85 to $0.920239. The total value decreased of the currency is around 50.25%.

At the beginning of this year 2019, the currency was going great and crossed its previous parent chain that is NEO (NEO) in the ranking of market capitalization. But Ontology has decreased back to 26th and NEO is holding its place at 17th.

Conclusion: These three altcoins is waiting for an opportunity for some bullish movement. These currencies were an earlier better performer in the market could not be able to handle their stableness in the values. The experts are hoping the same fate for the Chainlink (LINK), which has decreased by 38%. On the other hand, Bitcoin has dropped by 50%.

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About Arushi Dubey

Arushi Dubey is a student of Bachelor in Arts( Psychology). She is pursuing Psychology in arts with English literature and French Language. She is well versed in the English language. She is good at expressing her thoughts into words. She is still getting more and more trained in gathering knowledge related to Crypto Currencies and expressing them.

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