Crypto Correction: Top 20 Tokens Experiencing Meaningful Weekly Declines
By Rachel Kim, World-Today-News.com – November 21, 2023
The cryptocurrency market is undergoing a period of correction, with several altcoins experiencing considerable losses over the past seven days. While Bitcoin has shown relative stability, a number of smaller-cap cryptocurrencies are facing significant downward pressure. This analysis examines the top 20 worst-performing tokens this week, providing a snapshot of the current market sentiment and potential areas of concern for investors.
It’s vital to note that the cryptocurrency market is inherently volatile, and these declines don’t necessarily indicate long-term failure. however, understanding which assets are struggling and by how much is crucial for informed decision-making.
Leading the Losses:
Topping the list of biggest losers is Boundless (ZKC), which plummeted a staggering 49.44% in the last week, currently trading at $0.7911 with a market capitalization of $170.99M. The high trading volume of $537.01M suggests significant selling pressure.
Angola (AGLA) followed closely, experiencing a 44.93% drop to $0.0005548 with a modest market cap of $1.10M. tomi (TOMI) wasn’t far behind, falling 39.93% to $0.000078 despite a relatively high 24-hour volume of $4.97M.
Broader Market Weakness:
The downturn isn’t limited to lesser-known tokens. four (FORM), with a market cap of $560.59M, saw a 35% decline, while Lombard (BARD) dropped 34.96%. Several other projects, including Inspect (INSP), Letstop (STOP), and GT Protocol (GTAI), all registered declines exceeding 30%.
Notable Mentions & Potential Concerns:
* Lava Network (LAVA) experienced a 39.9% decrease, but notably has a market cap currently listed as $0, which warrants further investigation.
* paal AI (PAAL) and Polyhedra Network (ZKJ), both projects focused on the rapidly developing AI sector, saw declines of 29.13% and 28.32% respectively,suggesting even emerging tech isn’t immune to the current market headwinds.
* Yield Guild Games (YGG),a prominent name in the play-to-earn gaming space,experienced a 23.02% drop, indicating a potential cooling in interest in the gaming metaverse.
Full List of Top 20 Declining Cryptocurrencies (Past 7 Days):
| Token | Price | Market Cap | 24h Volume | 7-Day Change |
|---|---|---|---|---|
| Boundless (ZKC) | $0.7911 | $170.99M | $537.01M | -49.44% |
| Angola (AGLA) | $0.0005548 | $1.10M | $950.75K | -44.93% |
| tomi (TOMI) | $0.000078 | $343.47K | $4.97M | -39.93% |
| Lava Network (LAVA) | $0.03842 | $0 | $869.99K | -39.9% |
| Four (FORM) | $1.4177 | $560.59M | $85.34M | -35% |
| Lombard (BARD) | $1.0064 | $236.11M | $374.83M | -34.96% |
| Inspect (INSP) | $0.011823 | $9.95M | $3.08M | -34.57% |
| Letstop (STOP) | $0.08554 | $5.49M | $1.33M | -33.19% |
| GT Protocol (GTAI) | $0.106
