Crypto Losers of the Week

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The cryptocurrency market is showing red on the charts, with a 7.54% decrease in market cap to $2.44 trillion, amidst Bitcoin halving excitement. Despite the market’s trading volume hitting $137.29 billion, marking a remarkable 74.54% surge in the last 24 hours, the market’s general direction continues to be negative The decline has impacted top cryptocurrencies such as Bitcoin and Ethereum, with losses of about 4% and 8% accordingly. During these difficult times in the market, many significant tokens have stood out as the top crypto losers in the last week. Let’s examine their recent performance and main statistics more closely.

Core (CORE)

CORE (Core) is currently leading the pack among top cryptocurrencies experiencing significant losses, with its value dropping by approximately 39.9% over the last week. This translates to a price of $1.58. This substantial decrease suggests a tough time for the token. With a market capitalization of $1.39 billion and a circulating supply of 880 million CORE tokens, the situation looks challenging.

Core is a blockchain that can work with Ethereum’s Virtual Machine, enabling it to execute Ethereum-based smart contracts and decentralized applications (dApps). Its consensus mechanism, called Satoshi Plus, merges Bitcoin mining hashrate and Delegated Proof of Stake, and is supported by the native Core token.

Crypto Losers of the Week

Wormhole (W)

In the past week, the price of Wormhole’s token (W) dropped significantly by 36.38%, now valued at around $0.6013. However, the token still boasts a market capitalization of about $1.08 billion, which is supported by a circulating supply of approximately 1.8 billion W.

Wormhole is a system that allows assets and data to be moved between various blockchains using a single protocol. It focuses on providing affordability, fast processing times, and the ability to handle large volumes of transactions (scalability). Wormhole’s governance token is named W, which holds significance for community participation.

Uniswap (UNI)

Uniswap (UNI) followed suit among the top three crypto losers of the week. Although recognized as one of the top decentralized exchanges, it did not escape the crypto market storm, declining in value by 28.91% over the past week. UNI’s current price is $7.86, boasting a strong market cap of  $4.71 billion with a circulating supply of 598.7 million coins.

Aptos (APT)

Over the last week, the crypto market has caused a 25.93% drop for Aptos, with the price now at $9.82. However, even with this decline, Aptos still boasts a substantial market capitalization of around $4.2 billion and a circulating supply of over 424 million APT tokens.

Conflux (CFX)

This week, CFX from Conflux underwent a substantial price drop of 25.3%, bringing its value down to $0.2689. With a market capitalization of over $1.06 billion and nearly 3.94 billion CFX tokens in circulation, the token’s supply supports this figure.

THORChain (RUNE)

Last week, THORChain’s (RUNE) price dropped by 24.17%, resulting in a current value of $5.65. The total market worth of this cryptocurrency is around $3.94 billion. With a circulating supply of 333.6 million RUNE tokens, this figure is sustained.

THORChain is a decentralized liquidity protocol enabling easy exchange of crypto assets like Bitcoin and Ethereum without losing custody. Users can swap assets in a permissionless setting without order books, as market prices are maintained by asset pool ratios. The platform’s native token is RUNE, functioning as the base currency, governing platform, and enhancing security through Sybil resistance mechanisms.

Crypto Losers of the Week

Sui (SUI)

This week, the value of SUI (SUI) tokens dipped by 23.96 percent, causing them to be traded at $1.23. Despite this setback, SUI boasts a market capitalization of $1.6 billion and a circulating supply of around 1.3 billion tokens. In simpler terms, the price of SUI dropped by over a quarter this week, but it still has a large market value and a significant amount of tokens in circulation.

Worldcoin (WLD)

Over the past week, the price of Worldcoin (WLD) has decreased by 23.15%, now sitting at $5.43. With a market value of around one billion dollars, Worldcoin’s market capitalization ranks 90th on CoinMarketCap. The token boasts a circulating supply surpassing 184.6 million WLD coins.

Celestia (TIA)

Over the last seven days, the price of Celestia (TIA) tokens dropped by a significant 22.98%. Now priced at $9.24, these digital coins have a market capitalization of roughly $1.62 billion and a circulating supply of approximately 177 million TIA tokens.

Arweave (AR)

Arweave (AR) is currently at the bottom among the underperforming tokens, with its price dropping by 22.66% over the past week. Its current value hovers around $25.10. The token’s market capitalization stands at roughly $1.63 billion, while its circulating supply comprises over 65 million AR units.

Crypto Losers of the Week

Arweave functions as a decentralized, long-term data storage solution, akin to a communally owned and unforgetting hard drive. It is the home to the permaweb, a decentralized internet with community-curated applications. Miners are compensated using Arweave’s native AR token for their services.

Conclusion

The sliding trend in the worldwide crypto market has affected many tokens, including the specified cryptocurrencies, which experienced notable drops in worth during the last week. In today’s unpredictable market situation, keeping tabs on underperforming cryptos can help investors make informed choices as they navigate through the turbulent waters of the cryptocurrency market.

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2024-04-13 12:32