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BitConnect Token Plummets 90% After Exchange Closure Announcement

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Once-promising crypto entity BitConnect has lost nearly 90 of its value after falling to $26.00 in the wake of announcing they will be closing their exchange due to legal problems with U.S regulators.

The coin’s market cap has fallen to $175,637,617, according to coinmarketcap.com.

A total of $17.517 million worth of the BitConnect currency was traded in the last 24 hours, marking one the industry’s fastest collapses at that scale.

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Cryptocurrencies Continue Downward Spiral Following South Korea Debacle

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South Korea Expected To Decide This Week On Crypto Exchange Regulation