Why Xido Finance's Cryptocurrency Is Plummeting Today

After posting explosive gains over the last week of trading, Xido Finance (CRYPTO: XIDO) is losing ground in today's trading. The cryptocurrency was down roughly 43% over the previous 24-hour period as of 2:40 p.m. ET Saturday. 

Despite a day of positive momentum for the top cryptocurrency market that's seen most top-100 tokens post significant gains, Xido's valuation is taking a huge step back. The play-to-earn (P2E) gaming and decentralized-finance (DeFi) token skyrocketed on Friday, but it's now seeing big sell-offs as investors take profits and reassess its near-term upside potential. 

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Source Fool.com