The recent significant drop in the value of the nxra token can be attributed to a combination of market fear, uncertainty, and a specific exploit.
1- **market sentiment**: as the cryptocurrency market experiences volatility with many projects facing similar issues, the overall sentiment has shifted to the negative. a general trend of fear and uncertainty often results in rapid sell-offs.
2- **specific exploit**: the nxra token faced an exploit that led to a loss of around $1.5 million. this incident raised alarms among investors and contributed to the panic selling.
3- **market response**: the cryptocurrency market is infamous for rapid price fluctuations. a significant loss in one project can trigger a broader sell-off across the market.
4- **recovery period**: after such a significant drop, the recovery period may take time. investors typically remain cautious and wait for more stable conditions before reinvesting.
in summary, the drop in nxra's value is a mix of market sentiment and a specific exploit. cryptocurrencies are highly volatile, and swift price changes can be characteristic of the market, reflecting the risks and uncertainties inherent in the cryptocurrency space.