June 26th, according to market data, after binance announced that it would delist alpha... kmd plummeted 50%.
however it's not just a case of this is why the price dropped so much. kmd was already having trouble before this announcement arrived.
kmd had falling prices for years now and is down more than 95% over the past five years outpacing btc by about 69%.
this means people were already on edge with their investment and likely how they feel that there is no way back from here. because of its declining prices over time many investors may have started selling off just after bitcoin hit its peak at $90,000 worrying their gains might evaporate or worse still they could lose everything if we do enter into bearish phases once again. any bearish scenario where btc declines would also lead to further drops in all other projects making them difficult tangentially too but even underlying fundamentals are vitally important as well - like adoption numbers etc..