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Top 5 Crypto Losers of the Week

In the volatile world of cryptocurrency, fortunes can change in the blink of an eye. The week before has shown that even the largest market participants are not immune to the volatility that characterizes this sector. The recent crypto market crash saw the values ​​of major cryptocurrencies fall, with Bitcoin falling below $60,000, which also affected other assets. In this article we take a closer look at the top five crypto losers of the week.

1. Sui (SUI)

Sui’s price is currently trading at $1.11, showing a decline of 7.28% over the past week. With a market cap of $2.57 billion and a trading volume of $336.75 million, the token secures its position at 46th, according to CoinMarketCap. Clearly, Sui has had significant sell-offs over the past week, given the circulating supply of 2,339,196,966 SUI.

Sui is an innovative layer-1 blockchain platform focused on global adoption with secure, powerful and scalable development. It uses object-centric data model and Move programming language to address blockchain inefficiencies while prioritizing user experience.

2. Core (CORE)

Core ranks second on the list of crypto losers. The token is currently trading at $2.07 and has experienced a decline of 6.32% over the past week. Core’s market capitalization is approximately $1.8 billion, accompanied by a trading volume of $79.7 million. Although there are 885,659,759 CORE in circulation, investors are pessimistic about Core’s near-term performance.

Core (CORE) market performanceCore (CORE) market performance

CORE is an L1 blockchain compatible with Ethereum Virtual Machine, allowing the running of Ethereum smart contracts and dApps.

3. Pendulum (PENDEL)

Pendle is currently trading at $5.09, showing a decline of 5.31% over the past week. PENDLE’s market cap currently stands at $1.2 billion, accompanied by a trading volume of $109.7 million. The total number of tokens in circulation is 239,185,588 PENDLE. Pendle’s recent share price decline suggests that investors are unsure, possibly due to general market sentiment.

The Pendle Protocol tokenizes future returns for trading. The AMM supports assets in decline, giving users greater control and utility.

5. Gnosis (GNO)

Gnosis (GNO) has also entered the list of crypto losers, falling 4.39% over the past week to $313.01 today. The token has registered a market cap of $812 million and a trading volume of $12.58 million, with a circulating supply of 2,589,588 GNO. Although Gnosis saw a small weekly decline compared to other losers, the current downward trend indicates bearish sentiment among investors.

Gnosis is building a decentralized infrastructure on Ethereum, focusing on experimentation and creating prediction markets for accurate information. It functions as a DAO and supports dApps and governance within its ecosystem.

5. Pyth Network (PYTH)

Currently valued at $0.5465, Pyth Network has seen a significant drop of 4.47% over the past week. PYTH has a market cap of $819.7 million and is ranked 99th in the market according to CoinMarketCap. The token has registered a trading volume of $60.48 million in the last 24 hours, with a circulating supply of 1,499,988,994 PYTH.

Pyth Network’s substantial share price decline reflects a pessimistic view among investors, possibly driven by recent market uncertainties.

Pyth Network, a first-party oracle network, provides real-time market data to financial dApps across 40+ blockchains with 380+ price feeds with low latency. It covers major exchanges and financial institutions, ensuring accuracy and security.

Conclusion

These five crypto losers have had a challenging week. Despite their innovative features and ambitious goals, they have struggled to maintain investor confidence amid the overall market instability. Investors should always do thorough research and exercise caution before getting involved in the volatile world of cryptocurrencies, where fortunes can change quickly.