The market has been seeing a generally bearish downturn as the date of its historical bull run draws closer. Even as the space continues to see interesting developments in terms of custody solutions, market maturation and the entry of institutional developments, the market continues to not shake off the strong grip of the bear’s hold.
Even this week, the market is experiencing a general downward trend, generally owing to the lack of market momentum seen in the Bitcoin [BTC] market in particular.
#1 Bitcoin Cash [BCH]:
Bitcoin Cash has undoubtedly been the star of the media’s eye, as its upcoming hard fork has everyone in the crypto-space looking. However, as a consequence of its astronomic rise last week, the coin is now experiencing a retracement of 15.6% in the red zone, making BCH the biggest loser in this week’s bearish experience.
It is currently experiencing a loss of 2.6% over the past day with a trading price of $524 and a market cap just under 1/10th of Bitcoin at $9.1 billion.
#2 Tron [TRX]:
Tron [TRX] is the second biggest loser this week with a loss percentage of 9.99% over the timeframe, with a 2.6% loss continuing into the 24-hour zone. The coin is trading at $0.02 with a market cap of $1.4 billion, putting its position on CoinMarketCap right below that of USD Tether.
#3 Litecoin [LTC]:
Litecoin is the 3rd largest loser this week with a 9.4% loss over the past 7 days culminating in its loss today of 1.1%. This puts it at a price of $50.2 with a market cap of $2.9 billion.
#4 Cardano [ADA]:
Cardano is also experiencing a heavy loss of 8.4% over the week and 3% over the past 24 hours, reducing its price to a low of $0.07. This puts its market cap at $1.8 billion and makes it the 4th biggest loser in the bearish race downwards.
EOS is close behind, as the coin has only recently lost its position and is now at #6 by market cap. It is trailing XLM’s market cap by $100 million, with a market cap of $4.7 billion and a price of $5.2. It is undergoing a loss of 8.3% over the week, with a loss of 2.4% over the past 24 hours. This puts it at the position of being the 5th largest loser over the week.
#6 Monero [XMR]:
Monero is another coin that seems to be resilient to the bear’s attacks, with its loss coming in the middle of the pack at 6.5% over the week. However, it has undergone only a 0.5% loss over the past 24 hours, putting its price at $104 with a market cap close behind Cardano’s at $1.7 billion.
#7 Ethereum [ETH]:
The second largest cryptocurrency, Ethereum, has begun experiencing a general downward spiral to see a bounce off the $200 mark yet again. It is currently undergoing a loss of 5.2% over the past week, with a 1.2% loss over the past 24 hours at a price of $206 and a market cap only $900 million past its closest competitor at $21.3 billion.
XRP seems to be building up positive sentiment, as seen by the variety of good news for the HODLers of the coin. However, the price is not reflecting the same, as it has observed a 1.4% slide over the day, adding to its weekly loss of 4.4%. This marks its place as the 3rd lowest loser over the time period, with its current price of $0.50 and a market cap of $20.4 billion.
#9 Bitcoin [BTC]:
The #1 cryptocurrency has not presented any of its characteristic knife drops or shooting star-esque growth over the past 2 months, leading many to believe that traders are slowly leaving the market for greener pastures.
The coin is down by 2.75% over the past week, with a slow decline of 0.38% over the past 24 hours. It is currently resting at a price of $6531, with an undisputed market cap of $110.3 billion. It is hence the second lowest loser over the past week.
#10 Stellar Lumens [XLM]:
Stellar Lumens has been the coin with the most armor against the bear’s attacks, it seems, leading to a loss of only 2.3% over the past week, making it the lowest loser. However, the coin is undergoing a loss of 5.2% over the past day and is now at a trading price of $0.25 and a market cap of $4.8 billion.
The crypto-market might be set for another recovery rally. However, all the market seems to want is the volatile market movement seen by the coins before this period of extended non-volatility.