am I the only one that thinks that DASH getting delisted from the 2nd largest BTC exchange in the world is the main reason for the price dropping? What that says to me is one of the heavyweights in crypto just told all of us that DASH Isn't ready for prime time yet.
Two words. China. (Chi...Na).
To make any money trading crypto using the type of advanced trading tools that Bitfinex has (like leveraged trading etc) - you need one or both of 2 things:
[1] - high volatility
and or
[2] - high liquidity
Traders make large gains on tiny price movements by trading in massively liquid markets. Exchanges, likeways make money on volume. The only markets that remotely show enough volume for large traders to be interested are bitcoin and litecoin - the latter because it just sneaked its way onto the larger Chinese exchanges at the start of last year. The volumes of these two dwarf everything else - just take a look:
http://www.cryptocoincharts.info/coins/graphicalComparisonIt isn't a question of the exchange's opinion of "readiness for primetime", it's simply a question of trading volume. Traders don't give a damn about the fundamentals of the coin they're trading - it's just a trace on a chart. If it moves they make money and the more volume in that movement, the more money they can make. They could be trading wood chips for that matter.
Check the volumes for today's trading:
http://coinmarketcap.comBitcoin: $25 million dollars
Litecoin: $2 million dollars
The next is Ethereum with a paultry 0.3 Million. That's just over 1% of bitcoin's trading volume.
Tells you all you need to know about the priorities of exchanges.