But investors shouldn't give up on cryptocurrencies: this is just the beginning. Take a look at the below chart to see what happened to Bitcoin every time it had a steep correction.
People have missed the real power of cryptocurrencies. So far, they've been thought of as alternative currencies, taking the place of fiat currency in transactions.
But that's only half the story. What cryptocurrencies really do is monetize social networks, unlocking the value of a network by harnessing user engagement.
Corporations view cryptos as a way to monetize users' participation for additional revenue. Investors who buy into corporate crypto, like the new KodakCoin, can gain from a network's popularity, something that is different than just buying stock.
And with the KodakCoin venture already looking like a success, other corporate coins could soon be entering the market.