The crypto market has recently seen a significant decline, with a decrease of 7.54% in market cap to $2.44 trillion. This comes amidst the excitement of the Bitcoin halving event. Despite a surge in trading volume of 74.54% to $137.29 billion in the last 24 hours, the overall direction of the market remains negative. This has resulted in losses for top cryptocurrencies like Bitcoin and Ethereum, with a decrease of 4% and 8% respectively. During this challenging time, several notable tokens have emerged as the top crypto losers of the week. Let’s take a closer look at their recent performance and key statistics.
CORE (CORE) leads the pack of top crypto losers with a sharp decline of 39.9% in its value over the past week, currently trading at $1.58. This significant drop indicates a tough period for the token, which has a market cap of $1.39 billion and a circulating supply of 880 million CORE. It is an L1 blockchain that is compatible with Ethereum Virtual Machine, allowing it to run smart contracts and decentralized applications (dApps). It utilizes a consensus mechanism called Satoshi Plus, which combines Bitcoin mining and delegated proof-of-stake (DPoS), supported by its native token, CORE.
Wormhole (W) has also experienced a large decrease in price of 36.38% in the previous week, currently trading at $0.6013. However, 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, facilitating the transfer of assets and data between different blockchains. It prioritizes scalability, low transaction fees, and fast processing times. W is the governance token for Wormhole, used for community tokens.
Uniswap (UNI) is another top decentralized exchange that has not been spared by the current crypto market conditions, experiencing a 28.91% decline in value over the past week. Its current price is $7.86, with a strong market cap of $4.71 billion and a circulating supply of 598.7 million coins.
Aptos (APT) has also felt the heat of the market, recording a 25.93% decrease in its value over the past seven days, currently trading at $9.82. Despite the drop, the token still boasts a market cap of approximately $4.2 billion and a circulating supply of 424.2 million APT.
Conflux (CFX) has seen a significant underperformance this week, with a 25.3% drop in price to $0.2689. The token’s market capitalization is $1.06 billion, supported by a circulating supply of nearly 3.94 billion CFX.
THORChain (RUNE) has also recorded a decrease of 24.17% in its price in the previous week, now standing at $5.65. Its market capitalization is approximately $3.94 billion, backed by a circulating supply of 333.6 million RUNE. THORChain is a decentralized liquidity protocol that allows for 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, which serves as the base currency, governs the platform, and enhances security through Sybil resistance mechanisms.
Sui (SUI) has also found itself among the top crypto losers this week, experiencing a drop of 23.96% in its value, trading at $1.23 today. However, it boasts a market cap of $1.6 billion and a circulating supply of approximately 1.3 billion SUI.
Worldcoin (WLD) has seen a 23.15% decrease in value over the last week, with the current price of $5.43. The token has a market capitalization of approximately $1 billion and a circulating supply of over 184.6 million WLD, ranking 90 on CoinMarketCap.
Celestia (TIA) has also succumbed to the bearish pressure of the market, recording a decline of 22.98% in its value over the past week. It is currently trading at $9.24, with a market cap of approximately $1.62 billion and a circulating supply of approximately 177 million TIA.
Arweave (AR) ranks last among the underperforming tokens, experiencing a 22.66% price decline in the previous week. Its current price is $25.10, with a market capitalization of approximately $1.63 billion and a circulating supply of over 65 million AR. Arweave is a decentralized storage network for storing data permanently, hosting the “permaweb,” a decentralized web with community-driven applications. Its native token, AR, is used to pay miners for storage.
In conclusion, the overall decline in the global crypto market has affected numerous tokens, including the ones mentioned above, which have seen significant decreases in value in the past week. In these volatile market conditions, being aware of the top crypto losers can help investors make informed decisions during these challenging times in the cryptocurrency market.
