Chia cryptocurrency: Eco-friendly Bitcoin rival flops on launch

The much-anticipated Chia cryptocurrency (XCH), billed as an eco-friendly alternative to Bitcoin, has suffered a steep drop in value since launch on Monday.

As per CoinMarketCap data, XCH debuted at $1,600 per unit and climbed briefly to a peak above $1,800, but quickly shed more than half of its value in the hours that followed.