It’s rough waters out there today with only seven cryptos up at the moment. Among the cryptos losing today are Lisk (LSK), Nano, and NEO.
Lisk has been having a tough time with things, despite what could be considered a successful rebranding event. Not only is the coin down today, but it has also been steadily pushed down in the rankings and is now ranked as the 21st largest cryptocurrency when it had previously ranked as high as the 14th largest cryptocurrency only a few weeks ago. Its market cap has dropped from $3.7 billion on February 15th, 2018, to its current $1.7 billion today.
Lisk is currently selling for $16.83, putting the coin down 10.30% in the past 24 hours.
LSK ended its rebrand day selling for $26.19, according to historical data from CoinMarketCap. That means that since rebranding on February 20th, Lisk’s price has dropped 35.7%.
This is unfortunate because Lisk should be one of those coins with potential – and yet that potential is falling short right now.
Will Lisk ever recover?
Nano is another coin that rebranded this year, several weeks before the Lisk rebrand and in a somewhat more quiet manner. Nano has managed to inch up in the rankings since rebranding and is currently ranked as the 19th largest cryptocurrency with a market cap of $1.8 billion. However, the coin is still down for the day and has dropped in price by 39.3% since the start of this year (and about 33% since rebranding at the end of January).
Nano is currently selling for $13.23, putting the coin down 12.77% in the past 24 hours.
Nano looks like it may continue to decline throughout the day.
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After some shocking news about the NEO network, NEO’s price continues to plummet.
NEO is currently selling for $106.21, putting the coin down 9.78% in the past 24 hours.
NEO has been experiencing a steady decline in the past week after one node caused the entire network to crash. This has led to many questions about the stability of the NEO network and investor pull out seems pretty evident due to the down-trending price.
Can NEO regain the trust it has lost since the crash? It’ll take a lot more than just fixing the node problem to regain investor confidence.
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Molly Jane is a Russian Literature major from California with a background in writing. She joins CurrencyTimes after working as a freelance journalist and blogger.