Top Crypto Losers Today

The global cryptocurrency market is experiencing a slight crash by 0.84% to record $2.31 trillion in market cap today. This has seen many digital assets witnessing red charts and reporting losses over the past day, with leading cryptocurrencies such as Bitcoin and Ethereum falling victims too. Four cryptocurrencies are at the forefront of today’s  crypto losers, with each seeing a drop in value of more than 8% in the last 24 hours. In this article we delve into the market performance of today’s crypto losers.

1. Dogwifhat (WIF)

First on the list is Dogwifhat, characterized by its quirky logo featuring a dog wearing a hat. Priced at $2.94, WIF has experienced a notable drop of 11.66%. Its market cap of $2.9 billion witnesses a decline of 11.59%, holding 38th position in the market, according to CoinMarketCap. The memecoin also witnessed its 24-hour trading volume, standing at $577.16 million, having decreased by 16.47%.

Despite these setbacks, WIF’s circulating supply of 998,906,043 tokens suggests a certain level of stability, although its current performance starkly contrasts with its all-time high of $4.85 a month ago. Nevertheless the Solana meme coin experienced a growth of 18.67% in its value over the past week .

2. Arweave (AR)

Trading at $37.87, Arweave value has dipped by 8.50%, after recording a growth of 29.72% over the past week. The token’s market cap of $2.48 billion reflects a decrease of 6.74%, with trading volume experiencing a significant drop of 36.13% at $122.76 million.

With 65,454,185 AR tokens in circulation, the project faces a challenge as it strives to regain its footing, especially when compared to its all-time high of $90.94 three years ago.

Previously the spike in Arweave’s performance was linked to the launch of Arweave AO, a cutting-edge blockchain for efficiency. AR’s price remains above $30, hinting at a possible surge to $42.

Arweave AO stands out with its modular design, high transaction capacity, and EVM compatibility, supporting various applications. Testing includes evaluating GAR and incentivizing participation through AR.IO Testnet for network strength.

3. Akash Network (AKT

Akash Network, the AI coins, is currently priced at $4.48, representing a decrease in value of 8.17%. The market cap has dropped to $1.06, marking a 7.34% decrease, with trading volume falling by 59.18% to $20.3 million. Having 236,019,118 AKT tokens in circulation presents a significant challenge for the project as it aims to bounce back from its record peak of $8.08, which was recorded three years ago.
Akash Network revolutionizes cloud computing with blockchain technology, offering a decentralized marketplace for faster, more efficient, and affordable access to essential resources, transforming the cloud services landscape.

4. Helium (HNT)

Helium is closing the list with a price of $4.94, showing an 8.02% decline in value. The market cap has dropped by 7.60% to $795.28 million, while the trading volume has decreased by 17.71% to $11.5 million. Having 160,875,442 HNT tokens currently in circulation presents major obstacles for the project, particularly given its peak price of $55.22, recorded two years ago, followed by a decrease of 91.08%.

Based on Solana, Helium is a decentralized blockchain-powered network for Internet of Things (IoT) devices.

HNT had previously surged in value because of a wallet update. Helium revealed the release of the Helium Wallet App version 2.7.7, aimed at enhancing network stability and increasing user trust. The $20 Group Plan from Helium Mobile provides limitless data, calling, and messaging for a maximum of eight individuals, making mobile usage easier and more affordable.

Conclusion

During these turbulent times in the crypto market, the crypto losers highlight the volatility and risks that come with digital assets. It is unclear if they can withstand the storm and recover their lost progress, but their present condition is a reminder of the constantly changing crypto industry.