The world of cryptocurrency is no stranger to volatility, often witnessing substantial price swings within short periods. In recent events, the market experienced a notable downturn, aligning with Bitcoin’s significant 8% decrease following its record-breaking all-time high on Wednesday, March 5, 2024. This downturn in Bitcoin’s value had a ripple effect, causing a 6.19% decrease in the overall crypto market capitalization within the last 24 hours. In light of these developments, let’s delve into an exploration of the top 10 cryptocurrencies that have seen losses amidst this market turbulence.
Top 10 Crypto Losers
Below is a list of top losers in the crypto market today, according to CoinMarketCap data:
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1. FLOKI (FLOKI):
FLOKI is a top loser in the market today, having experienced a significant decrease of 14.53% in the last 24 hours, with a price of $0.0001188 and a trading volume of $648,194,557. Although its performance in the past week was impressive with an increase of 159.84%. FLOKI Inu price declined despite recent interest, possibly due to a large withdrawal of 28.19 billion tokens ($4.29 million) from Binance by a new wallet, suggesting whale involvement. Additionally, FLOKI faces challenges in market cap compared to newer meme coins like PEPE and BONK, signaling shifting investor preferences.
A fresh wallet withdrew 28.19B $FLOKI($4.29M) from #Binance 40 mins ago.https://t.co/aJRdOG7A8T pic.twitter.com/M5I3gzVaCh
— Lookonchain (@lookonchain) March 5, 2024
2. Filecoin (FIL):
Filecoin Price, down by 12.71%, faces a notable decline, with a price of $8.92 and a trading volume of $981,754,323, despite having experienced an increase in its value by 17.74% in the past week. Such drops might be attributed to profit-taking after recent price surges or market sentiment shifts.
3. 1000SATS (SATS):
1000SATS, with a 12.57% decrease, showcases the risk associated with smaller or newer projects in the crypto space. It trades at $0.0006231 with a trading volume of $233,643,002, despite its commendable performance in the past seven days which saw an increase of 29.78% in its price.
4. ORDI (ORDI):
ORDI’s 11.38% drop in the past day reflects the broader market sentiment or specific factors affecting its ecosystem. It has a price of $76.64 and a trading volume of $660,451,936, having experienced a significant growth of 16.05% in the past week.
5. Chiliz (CHZ):
Chiliz price experienced a 9.85% decrease over the past 24 hours, adding to its previous week’s decline of 2.89%. It is currently trading at $0.1358 with a trading volume of $202,348,545.
6. Bitcoin Cash (BCH):
BCH’s 9.22% decrease in the past 24 hours might be correlated with Bitcoin’s price movements, as altcoins often follow Bitcoin’s lead. It currently trades at $400.56 with a trading volume of $1,283,211,392. This comes after Bitcoin Cash experienced an increase in its value of 39.64 over the past week.
7. Worldcoin (WLD):
With a 9.15% drop in the past day, Worldcoin’s performance warrants scrutiny. It trades at $6.55 with a trading volume of $752,518,411. The price of the AI altcoin also decreased by 5.52% over the past 7 days, after riding high last month. As at press time Worldcoin price had slightly increased to $6.96 according to
8. Bitcoin SV (BSV):
Bitcoin SV experienced a 9.14% decline in its value, likely affected by broader market trends, especially its relationship with Bitcoin. It trades at $99.04 with a trading volume of $205,553,614. However, BSV has demonstrated an increase in its value over the past week by 26.97%.
9. WOO (WOO):
WOO’s value has decreased by 9.08% in the past 24 hours. It currently trades at $0.5178 with a trading volume of $77,850,331, having experienced a slight increase of 3.76% in its price in the past week. Investors should balance high-risk assets like WOO with more stable options.
10. Theta Network (THETA):
Theta Network price experienced a decline of 8.94% in the past 24 hours. This might be a correction after a period of rapid growth or influenced by market sentiment shifts within the decentralized video streaming space. Theta price is at $2.72 with a trading volume of $533,139,677, having experienced an increase in its value by 45.20% in the past seven days.
Conclusion
Incorporating trading volumes alongside current prices offers investors a more comprehensive view of market activity among the top crypto losers. When analyzing crypto assets, it’s essential to consider both price movements and trading volumes to make informed decisions. Despite short-term fluctuations, it’s crucial for investors to conduct thorough research, practice risk management, and stay informed about market developments. Maintaining vigilance is key, ensuring a balanced portfolio that includes both high-risk assets and more stable options, while staying abreast of market dynamics to navigate the ever-changing crypto landscape effectively.
