The cryptocurrency market is currently in the midst of a significant downturn, with Bitcoin down 24% this week and Ethereum down 30% against the US dollar. While these losses are notable, some digital currencies have fared even worse, with few managing to reverse the trend.
Dozens of cryptocurrencies have lost a percentage, some have fallen by 50%
There has been a small increase in cryptocurrency values over the past hour, but as of 10 a.m. ET Monday, overall losses are hovering around 16.15% across the entire crypto economy. Only a select few crypto assets have managed to avoid major declines this week.
Singularitynet (AGIX) saw a modest gain of 0.46%, while beldex (BDX) saw a small gain of 0.41%. Other than these two, the only assets that remained in the green were gold-backed tokens and stablecoins.
The biggest loser over the past seven days was mog coin (MOG), which fell 50.15%. Other notable losers included dogwifhat (WIF), which fell 48.94%, and dog go to the moon (DOG), which lost 48.56%.
Coins like PENDLE, RAY, CKB, SUPER, SSV, ONDO, and BOME have suffered losses ranging from 44.02% to 48.10%. PEPE, MEW, AR, JASMY, RUNE, and TURBO have also suffered double-digit losses this week.
In fact, more than 60 coins have seen double-digit declines against the US dollar over the past week. Meanwhile, the most traded coins this week, excluding BTC, ETH and stablecoins, were SOL, BNB, XRP, PEPE, WIF, ADA, TON and LINK.
The biggest drop among the top ten coins was solana (SOL), which fell 33% this week. ETH fell 30%, and DOGE also lost 30% against the US dollar.
