Mark Cuban ‘Hit’ After Cryptocurrency Crashed 100% In One Day—And These Other Buzzy Tokens Have Also Collapsed | WHAT REALLY HAPPENED

Mark Cuban ‘Hit’ After Cryptocurrency Crashed 100% In One Day—And These Other Buzzy Tokens Have Also Collapsed

In the latest sign of peak cryptocurrency mania subsiding, a token backed by billionaire Mark Cuban crashed down to zero dollars Tuesday, joining a slew of other hyped-up cryptocurrencies that have crashed over the past month after frenzied trading drove the market to meteoric price highs this year.

A wave of panic selling Wednesday morning drove the price of Iron Titanium, a token Cuban disclosed he owned earlier this week, from a Wednesday high above $64 to less than 0.01% of a penny by Thursday morning after some of its biggest investors started selling the token at high volumes, spooking individual investors and triggering the massive selloff.

Though much more gradual, the prices of several other tokens sporting multi-billion-dollar market capitalizations have similarly crashed over the past month amid a broader crypto-market rout.

After skyrocketing to a $45 billion market cap and becoming a top 10 cryptocurrency virtually overnight last month, Internet Computer has seen its prices tumble nearly 90%.

The token drew widespread praise from analysts and institutional investors, including Polychain Capital founder Olaf Carlson-Wee, but crypto enthusiasts on Reddit have soured on the token during its plunge and blamed “elites” (or institutional investors) for dumping their coins and driving down prices.

Safemoon, another token lauded by the Reddit crowd and social media influencers including crypto-bull Dave Portnoy, has plunged as much as 70% since amassing a $6 billion market cap in mid-May.

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