Is the season over… 5 out of 10 coins fell more than 50% in a month

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The aftermath of ‘Cruel May’ continues in the virtual asset (coin) market.

As most of the coins, including Bitcoin, the major owner, have fallen over the past month, there are voices among investors that the ‘season’ is really over.

According to Upbit, a virtual asset exchange on the 9th, as of 5 pm the previous day, all but one of the 117 virtual assets listed on the exchange’s won market were down from a month ago.

Compared to a month ago, Quantum fell 67.95%, recording the largest decline. 14 coins, including Ontology (-66.92%), Risk (-64.50%), Swipe (-64.31%), Icon (-64.20%), and Bitcoin Gold (-62.33%), plunged more than 60%.

Including them, the price of 54 coins, or 46% of the total, fell more than 50% in one month.

Bitcoin and Dogecoin, which once surged in price due to a series of remarks from Tesla CEO Elon Musk, fell 46.51% and 46.37%, respectively, from a month ago.

Theta Fuel is the only coin that has risen in price in the last month. During this period, it rose by 29.47%.

Even compared to three months ago, when the coin price was still at its peak, more than half of the coins fell.

Of the 113 coins comparable to three months ago, 64 coins (57%), which had a price drop compared to three months ago, were slightly more than half. Among them, Nem (-73.77%), Alpha Quark (-60.62%), and Room Network (-53.15%) were more than halved.

Of the remaining coins, 48 ​​rose in price, and 1 remained unchanged.

The fact that the U.S. is seeking a austerity shift amid concerns over inflation may fuel a downtrend in the virtual asset market. This is because there is abundant liquidity in the background of raising the price of virtual assets so far.

CNBC in the US analyzed on the 7th (local time) that the US Federal Reserve (Fed) is in an early stage of work to prepare the market for a reduction (tapering) of asset purchase programs.

On the 27th of last month, the Bank of Korea officially discussed the possibility of a ‘base rate hike within the year’.

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