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Top cryptocurrency losers today | CoinGape
The global cryptocurrency market is seeing a slight drop of 0.84% to record a market capitalization of $2.31 trillion today. This has seen many digital assets witness red graphs and report losses over the past day, with major cryptocurrencies as Bitcoin AND Ethereum even the victims who fall. Four cryptocurrencies are at the forefront of today’s losers, each seeing a drop in value of more than 8% in the last 24 hours. In this article we delve into today’s cryptocurrency losers’ market.
1. Dogwifhat (WIF)
First on the list is Dogwifhat, characterized by its quirky logo depicting a dog wearing a hat. At the price of $2.94, WIF saw a notable decline of 11.66%. Its market capitalization of $2.9 billion sees a decline of 11.59%, maintaining the 38th position in the market, according to CoinMarketCap. The memecoin also recorded a 24-hour trading volume of $577.16 million, a decrease of 16.47%.
Despite these setbacks, WIF’s circulating supply of 998,906,043 tokens suggests some level of stability, although its current performance stands in stark contrast to its all-time high of $4.85 a month ago. However, the Solana meme coin has seen 18.67% growth in its value over the past week.
2. Arweave (AR)
Trading at $37.87, Arweave the value fell by 8.50%, after recording a growth of 29.72% in the last week. The token’s market capitalization of $2.48 billion reflects a decline of 6.74%, with trading volume experiencing a significant decline of 36.13% to $122.76 million.
With 65,454,185 AR tokens in circulation, the project faces a challenge in trying to regain its position, especially when compared to its all-time high of $90.94 three years ago.
Arweave’s performance surge was previously tied to the launch of Arweave AO, a cutting-edge blockchain for efficiency. AR price remains above $30, suggesting a possible rise to $42.
Arweave AO stands out for its modular design, high transaction capacity and EVM compatibility, supporting various applications. Testing includes evaluating GAR and encouraging participation via AR.IO Testnet for network strength.
3. Akash Network (AKT
Akash Network, the AI Coins, is currently priced at $4.48, which represents a decrease in value of 8.17%. The market capitalization fell to $1.06, marking a decline of 7.34%, with trading volume down 59.18% to $20.3 million. Having 236,019,118 AKT tokens in circulation represents a significant challenge for the project as it aims to recover from the record high of $8.08, recorded three years ago.
Akash Network revolutionizes cloud computing with blockchain technology, offering a decentralized marketplace for faster, more efficient and convenient access to essential resources, transforming the cloud services landscape.
4. Helium (HNT)
Helium closes the list with a price of 4.94 dollars, showing a drop in value of 8.02%. The market capitalization fell 7.60% to $795.28 million, while trading volume decreased 17.71% to $11.5 million. Having 160,875,442 HNT tokens currently in circulation presents major hurdles for the project, especially considering its peak price of $55.22, recorded two years ago, followed by a decline of 91.08%.
Based on SolanaHelium is a blockchain-based decentralized network for Internet of Things devices (IoT).
HNT had previously increased in value due to a portfolio upgrade. Helium has revealed the release of Helium Wallet app version 2.7.7, aimed at improving network stability and increasing user trust. The $20 Group plan by Helium Mobile provides unlimited data, calls and texts for up to eight people, making mobile usage easier and more convenient.
Conclusion
During these turbulent times in the cryptocurrency market, cryptocurrency losers highlight the volatility and risks associated with digital assets. It’s unclear whether they will be able to weather the storm and make up for lost progress, but their current condition is a reminder of the cryptocurrency industry’s constant change.