24/03/2024
Biggest Crypto Losers This Week
The crypto market is showing signs of a potential rebound, with the market cap surging to $2.47 trillion, marking a 2.4% increase within a day. However, trading volume remains subdued, experiencing an 18% decrease from the previous day.
Leading cryptocurrencies such as Bitcoin and Ethereum continue to grapple with the ongoing downturn. Bitcoin is currently priced at $64,616, reflecting a 4.6% loss, while Ethereum sits at $3,368.11, down by 7.6%. With these notable declines, it’s evident that the market sentiment has shifted downward. Additionally, the fear and greed index score has decreased from extreme greed to 75 points.
Amidst the extensive array of cryptocurrencies, some have struggled to weather the volatile market conditions, witnessing declines in their value. This week, notable losers include Sei, Injective, BONK, Helium, and Arbitrum. Let’s delve into each of them individually:
Sei (SEI):
Sei’s current price stands at $0.8125, reflecting a 22% loss over the past week. This downturn is mirrored in its trading volume, which has dwindled by 30% within a day, now standing at $145,421,778. Despite attempting a comeback, Sei’s market cap has only seen a marginal increase of over 0.75%, reaching $2,175,064,793. Just a week ago, Sei soared to a new all-time high of $1.14 before experiencing a decline.
Injective (INJ):
Injective has exhibited a notable surge this month, with its price up by 7% compared to a month ago. Currently trading at $35.89, INJ has faced a 21.48% decrease, accompanied by a market cap of $3,352,413,964. However, its trading volume has taken a significant hit, plummeting by 31% to $121,850,088. Despite these setbacks, INJ remains only 32% away from its all-time high value of $52.75, set just nine days ago.
BONK (BONK)
Experiencing a 20% decline over the week, BONK is striving for a recovery, with a modest surge of approximately 3% since yesterday. Trading at $0.0000225, BONK had previously reached an all-time high of $0.00004704, marking a notable difference of 52%. While its trading volume continues to suffer, currently at $142,840,691 with a 30% dip, there has been a slight uptick in market cap, now valued at $1,465,920,205, reflecting a 3% increase.
The recent list of crypto losers comprises Sei, Injective, BONK, Helium, and Arbitrum. Many of these cryptocurrencies had recently reached all-time highs before experiencing a downturn due to the prevailing bearish trend in the market. As we look ahead to the coming week, it remains to be seen how the market will evolve and which cryptocurrencies will emerge as the top losers in the next assessment.
Helium (HNT):
Helium, previously lauded within its community, reached a year-high value of $10.4. However, it is currently undergoing a sustained decline, experiencing an 18% dip with its value now at $6.54. This downturn is evident in its market capitalization, standing at $1,051,716,416. Furthermore, the trading volume has plunged by 33%, now at $9,130,427. With a considerable gap from its all-time high value, Helium is presently down by 88%.
Arbitrum (ARB)
Arbitrum is currently trading at $1.62, reflecting a decline of 13% within a week. This drop comes shortly after the token achieved an all-time high of $2.40 on January 12th. In terms of market capitalization, there is a slight uptick of 1.71%, bringing the value to $4,290,401,833. However, the trading volume has decreased by 30%, now at $444,904,844.
