Crypto Losers of the Week

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) leads the bandwagon of the top crypto losers with a sharp drop of  39.9% in its value, over the last week, to trade at $1.58. This remarkable decline indicates a challenging period for the token. It boasts a market cap of $1.39 billion, and a circulating supply of 880 million CORE.

CORE is an L1 blockchain compatible with Ethereum Virtual Machine, allowing it to run Ethereum smart contracts and dApps. It uses the Satoshi Plus consensus mechanism combining Bitcoin mining hash and DPoS, backed by its native token, CORE.

Wormhole (W)

Over the course of the last week, Wormhole’s token (W) saw a large decrease in price of 36.38%, currently trading at $0.6013. Despite the decline, the token’s market capitalization remains at approximately $1.08 billion, backed by a circulating supply of 1.8 billion W.

Wormhole is a protocol that operates across multiple chains, which helps with transferring assets and data across different blockchains. It emphasizes scalability, affordable transactions, and quick processing times. W is a governance token for Wormhole, used for community tokens.

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)

Aptos has also witnessed the current crypto market heat, recording a 25.93% decline over the past seven days. APT price is currently trading at $9.82. Despite the decrease, the token has a market cap of approximately $4.2 billion and a circulating supply of 424.2 million APT.

Conflux (CFX)

Conflux (CFX) experienced significant underperformance this week, seeing a 25.3% decrease in price to $0.2689. The market capitalization of the token is $1.06 billion, supported by an available supply of almost 3.94 billion CFX.

THORChain (RUNE)

THORChain (RUNE) recorded a decrease of 24.17% in its price in the previous week, now standing at $5.65. The market capitalization is approximately $3.94 billion, backed by a circulating supply of 333.6 million RUNE.

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.

Sui (SUI)

Sui (SUI) experienced also found itself among the crypto losers this week. The token experienced a drop of 23.96% in its value, to trade at $1.23 today. However, it boasts of a market cap of $1.6 billion and a circulating supply of approximately 1.3 billion SUI.

Worldcoin (WLD)

Worldcoin (WLD) has witnessed a 23.15% drop in value in the last week, with the current price being $5.43. The token’s market capitalization is approximately $1 billion, ranking 90 on CoinMarketCap, backed by a circulating supply of more than 184.6 million WLD.

Celestia (TIA)

Celestia (TIA) succumbed to the bearish pressure of the crypto market, recording a decline of 22.98% in its value over the past week. Currently trading at $9.24, the token boasts a market cap of around  $1.62 billion and a circulating supply of approximately 177 million TIA.

Arweave (AR)

Arweave (AR) ranks last among the underperforming tokens, experiencing a 22.66% price decline in the previous week. The present cost is $25.10. The market capitalization of the token is approximately $1.63 billion, backed by a circulating supply of more than 65 million AR.

Arweave is a decentralized storage network for storing data permanently. It is like a collectively owned hard drive that never forgets, hosting the permaweb, a decentralized web with community-driven applications. It uses its native AR to pay miners for storage.

Conclusion

The general decline in the global crypto market has impacted numerous tokens, including the mentioned cryptocurrencies, which saw significant decreases in value in the previous week. In the current volatile market conditions, being aware of crypto losers  can assist investors in making strategic decision amidst the challenging time in the cryptocurrency market.