No one is safe from the unpredictable cryptocurrency market drops, not even people who are already billionaires and could be considered "whales".
Mark Cuban is one example, as a coin that he has personally backed saw a sharp decline in value as a massive sell-off wave occurred, reducing the value of the coin by 100%. The token in reference is Iron Titanium, and on Wednesday morning, the value begun to crash, driving the price from $64 on Wednesday to less than 0.01% of a penny by the time Thursday rolled around.
Large investors into the coin began to sell off their holding, causing the token's value to plummet, but Iron Titanium isn't the only coin to have done this. According to CoinMarketCap, around one-third of the world's top 100 most valuable cryptocurrencies on the market dropped by at least 40% in value over the past month and a bit. Additionally, twelve of the most valuable crypto's have reduced in value by more than 50% on average.
Cuban said via tweet, "I got hit like everyone else. Crazy part is I got out... [Then] Bam". For more information on this story, check out this link here.