EOS, Stellar Lumens, Cardano, NEO and IOTA Prices Experience Big Drops

The cryptocurrency market is experiencing several drops through established currencies and altcoins alike.

Assets such as Bitcoin, Ripple and Litecoin continue to plunge further while seemingly dragging altcoins such as NEO and Stellar Lumens down with them.

XLM has incurred a strong price plunge since our previous article, trading for $0.33 at price time.

Over the last week, Stellar has dropped nearly eight percent and is trading 21 percent lower against the U.S. dollar.

Like XLM, Cardano has also incurred a small drop, falling to $0.28 from $0.32 since our previous coverage.

At press time, Cardano is working on several applications, including what's known as the Plutus core - a smart contract language designed to create new programming languages.

NEO. NEO has incurred a ten dollar drop since our previous price article, falling from $77 to $67. At first glance, it appears NEO's trading signals all appear bearish, and analyst Manoj B. Rawal of FX Street suggests the coin is entering a brief period of "Hibernation" before falling deeper into the red.

EOS. EOS has not experienced as strong of a pullback as other altcoins, but it is still falling deeper into the red over the past hour.

IOTA. Like many of today's altcoins, IOTA has dropped from $2.46 to $2.05 since our last price piece.

NASDAQ investment strategist Kiana Danial feels that IOTA has remained on a solid uptrend since late April and that while further pullbacks may occur in the coming weeks.