The virtual currency that was supposed to ‘save’ the Iceland’s citizens and the country’s economy has taken a turn for the worse. Auroracoin was airdropped last week and its exchange rate has been fluctuating ever since.
The price of one coin has dropped from ISK1,200 (US$10) on average down to just ISK190 (US$1,70), as reported by IB Times. But Auroracoin isn’t the only virtual currency in trouble. On Saturday, the rate per Auroracoin was ISK190 (US$1.70), but only 24-hours later, the rate per coin had increased to ISK383 (US$3.40).
At the same time, Bitcoin’s rate dropped from ISK60,000 (US$532) down to ISK50,000 (US$444) in just 24-hours.
Ruv.is reports that Auroracoin is the fifth largest virtual currency in the world and nearly 25-thousand Icelanders have acquired the coins since the airdrop last week. Iceland’s Central Bank has warned people to buy the currency and its existence will be discussed at the next economy- and business committee meeting.
The virtual currency that was supposed to ‘save’ the Iceland’s citizens and the country’s economy has taken a turn for the worse. Auroracoin was airdropped last week and its exchange rate has been fluctuating ever since.
The price of one coin has dropped from ISK1,200 (US$10) on average down to just ISK190 (US$1,70), as reported by IB Times. But Auroracoin isn’t the only virtual currency in trouble. On Saturday, the rate per Auroracoin was ISK190 (US$1.70), but only 24-hours later, the rate per coin had increased to ISK383 (US$3.40).
At the same time, Bitcoin’s rate dropped from ISK60,000 (US$532) down to ISK50,000 (US$444) in just 24-hours.
Ruv.is reports that Auroracoin is the fifth largest virtual currency in the world and nearly 25-thousand Icelanders have acquired the coins since the airdrop last week. Iceland’s Central Bank has warned people to buy the currency and its existence will be discussed at the next economy- and business committee meeting.
