Chia Coin exchange rate declined 85% in 4 months

In May, Chia Coin was worth $1,500, and by early September, the cryptocurrency was down to $237. Data​ from platform cryptodefix. The cryptocurrency is mined using SSDs and HDDs. The decline in the value of Chia has caused miners to start selling hard drives en masse at a loss.

The creator of Chia is Bram Cohen, author of the BitTorrent protocol. He claims to be an environmentally friendly cryptocurrency because less electricity is used for the operation to obtain it. Chia runs on Proof-of-Space-and-Time consensus algorithms that use disk space as a transaction validator.