The cryptocurrency market is on the verge of a comeback, with its market capitalization rising 2.4% in just one day, to $2.47 trillion. Despite efforts, trading volumes are still declining, down about 18% from yesterday.
Top cryptocurrencies such as Bitcoin and Ethereum have similarly remained in decline. Bitcoin price is currently at $64,616 with a loss of 4.6%, while Ethereum is down 7.6% at $3,368.11. Looking at the current decline in cryptocurrencies, the market is clearly declining. Additionally, the Fear and Greed Index score dropped from Extreme Greed to 75 points.
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In this blog, let's discuss the top losers in the crypto market and their performance today.
This week's top crypto losers
Among the thousands of cryptocurrencies on the market, some cannot withstand the volatility and are losing their value. This is nothing new for crypto investors as market volatility is a part of the crypto market. This week's top losers are sei, Injective, BONK, Helium, and Arbitrum. Let's explain them one by one.
SEI
Sei price is currently trading at $0.8125 after facing a 22% loss in less than a week. The impact of the loss was also felt in trading volume, which now stands at $145,421,778 after falling 30% within a day. The token is poised to make a comeback with a market capitalization increase of just over 0.75%, pushing its value to $2,175,064,793. This news is disappointing, as just seven days ago, Sei had soared spectacularly, hitting a new all-time high of $1.14 before falling back.
Injective word (INJ)
singular word has soared with confidence this month, with prices up 7% month-on-month. It has a market capitalization of $3,352,413,964 and is currently trading at $35.89 after falling 21.48%. The biggest hit was in trading volume, which fell 31% to $121,850,088. Despite the decline, INJ is only 32% off its all-time high of $52.75, set nine days ago.
Bonk
rear After falling 20% in a week, BONK is up about 3% since yesterday and is trying to recover. After reaching an all-time high of $0.00004704, it is currently trading at $0.0000225, representing a 52% difference. BONK was previously trending on the charts, but due to changes in market trends, it fell to the list of top crypto losers.
Its trading volume remains in losses and is now down 30% to $142,840,691. The current market capitalization has increased slightly, and after the 3% increase, his value is $1,465,920,205, which puts him in 71st place.
Helium (HNT)
helium previously shocked the community and skyrocketed to a yearly high of $10.4. However, it has now continued to decline by 18%, with a market capitalization of $6.54 and a market capitalization of $1,051,716,416. Volume also fell 33% to $9,130,427. Helium, by comparison, is down 88%, so it has a long way to go before it approaches its all-time high.
Arbitrum
Arbitrum It is trading at $1.62 after falling 13% in less than a week. It comes shortly after the token hit an all-time high of $2.40 on January 12th. In terms of market capitalization, it increased by 1.71%, increasing its value to $4,290,401,833, while the trading volume decreased by 30% to $444,904,844.
conclusion
The list of cryptocurrency losers includes sei, injective, BONK, Helium, and Arbitrum. Most of these loser cryptocurrencies have recently peaked, hitting all-time highs before falling due to bearish trends. We will have to wait and see how the market moves next week and who will be the biggest loser then.
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