MaidSafeCoin gives up most of its gains, loses over 40% in 4 days

MaidSafeCoin (MAID), also known as Safecoin, has surrendered the bulk of its gains made over the past month, which include its doubling in value within one week.

MAID is currently trading at 0.041 mBTC (=$0.025) on The masterCoin Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term. An equivalent of close to $50,000 worth has been traded during that past 24h. Earlier today, the coin traded as low as 0.035 mBTC, a loss of over 40% since peaking at over 0.060 mBTC 4 days ago.

A short term bounce, retracing at least 20% of its losses, appears likely. Its relatively quick pace of decline, against the backdrop of an equally quick rise, are forming choppy trading conditions in advance of its next mid-term move.

Long-term, should the coin fall further, the 0.020 mBTC mark has served as a reliable level of support. Should it be breached, additional selling is possible.

The coin now ranks 10th in market cap, worth approximately $11 million.