With the increased combined crypto market capitalization, the digital currency ecosystem continues to show signs and symptoms of weakness pegged The current price is $862.19 billion
This week was another difficult one, as investors were further discouraged by notable circumstances. liquidity Into the ecosystem.
MicroStrategy Incorporated, El Salvador Buy The Bitcoin (BTC) dip, the bullish gesture was not sufficient to wade off the impacts of the liquidation of Three Arrows Capital (3AC) as ordered A British Virgin Island (BVI), court.
We look at the top three coins with the largest weekly losses, as most coins trade in the negative.
Avalanche (AVAX)
Avalanche, a layer 1 blockchain, functions as a platform. Decentralized applications and custom-built blockchain networks. It is considered one of the fastest protocols for blockchain, measured in time to finality.
Despite the dip in the market, the Avalanche ecosystem continues to thrive thanks to the $230 million ecosystem funding it launched months back. This has not helped AVAX coin, which is currently at $230 million. changing hands At $15.94, the price is down by 1.94% over the last 24 hours and 23.90% over the past week. AVAX is the worst performer for the week, as analysts advise traders to shorten the coin.
Polygon (MATIC).
Polygon, formerly known as the Matic Network, is the first platform that allows for Ethereum scaling and infrastructure building. Powered by the MATIC token, the protocol’s future is currently in doubt as The Merge of Ethereum’s Proof-of-Work (PoW) with the new Proof-of-Stake (PoS) is on track to be completed very soon.
The token is currently trading at $0.4551 down 23.44% in the past 24 hours. Since December 2012, when it reached its all-time high (ATH), $2.92 in December 2013, the token’s price has dropped by 84%.
KuCoin Token (KCS)
KuCoin’s native token, KCS, was introduced in 2017 to allow traders to take value from KuCoin. Exchange. For $8.20 a 25.33% drop In the week-to-date period the KCS Coin ranks as the worst loser out of all the top 100 digital currency listed. CoinMarketCap.
The drop in KCS prices could be due to FUD spreading in its community. It is possible that withdrawals will be stopped by the trading platform as it is also distressed. This claim has been refuted by Johnny Lyu, CEO.
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