Multiple altcoins crash on April Fools’ day, crypto market holds steady

A number of altcoins and memecoins saw a sharp sell-off on April Fools’ Day, April 1, with some tokens, including Act I The AI Prophecy, dropping nearly 60% in minutes.

Act I The AI Prophecy (ACT), a token associated with the eponymous project focused on artificial intelligence, plunged 58% from $0.19 to $0.08 in less than an hour on April 1, with its market cap shedding $96 million, according to data from CoinMarketCap.

The sharp drop of ACT came along with notable red action in the altcoin…