The bitcoin price fell below $42,000 yesterday, causing other altcoins to follow suit, this also dragged down the KUB Coin.
The KUBTHB chart shows that the price of the KUB coin has fallen to an initial low in 2022 of 290 baht, a drop of more than 50% from the previous record high of 580 baht set in December 2021. Currently, the price has risen again to 379.61 baht.
KUB Coin’s collapse follows the bitcoin price collapse from early 2022, which has also brought down other altcoins such as Ethereum, XRP, and Litecoin.
The price drop has other reasons as well. Mainly, the issue of the crypto taxation measure of the Ministry of Finance of Thailand. From the day this news was released, the price of the KUB coin has fallen for the sixth day in a row.