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Price Analysis: Factom Creates New Yearly Lows As Prices Find Short Term Support Against Bitcoin

Factom has started to experience another turbulent month in June as prices drop further this past week. Over the past 7 days of trading, price for Factom has dropped a total of 40%, at the time of writing, to a new 13-month low for price as it hits $9.50.

The cryptocurrency is currently ranked at #110 in terms of overall market cap across the board with a total market cap value of $86.50 billion.

Although prices are significantly down, it is important to analyze the price drop in relation to the entire crypto market.

Total Cryptocurrency Market Capitalisation – www.coinmarketcap.com

Looking at the chart above, over the course of the past 7 days the total market capitalisation for all cryptocurrency has dropped from a high of $343 billion on June 8, to a low of $266 billion on June 13. This means that the entire cryptocurrency market has lost a significant amount that totals close to $77 billion over the past week. This should comfort Factom holders knowing that they are not alone in…


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