JuCoin's JU Token Plunges Nearly 75% Amid Market Volatility
JuCoin’s token continues to show steep losses, now trading below $8, underscoring ongoing pressure from liquidity challenges and volatile market conditions.
Summary
JuCoin’s JU token remains under heavy selling pressure, now priced at $7.8544 after a sudden 50% overnight drop. This extends its 24-hour decline to 67.06%, compounding the sharp fall from nearly $24 to around $6 earlier. The exchange has maintained that the plunge stems from external liquidity and market factors, while assuring users that operations are stable and funds remain secure.
Terms & Concepts
- Platform Token: A cryptocurrency issued by an exchange or blockchain-based platform, often used for transactions, trading fee discounts, or governance.
- Liquidity: The ease with which an asset can be quickly bought or sold in the market without affecting its price significantly.
- Market Volatility: The degree of variation in an asset's trading price over a period, indicating the level of risk and uncertainty in its value.