Weekly Top Cryptocurrency Decliners

An attempted recovery is underway in the cryptocurrency market, with its total capitalization climbing to $2.47 trillion—a notable 2.4% rise within a single day. Despite this rebound, trading volumes have dwindled by nearly 18% since the previous day.

Major players such as Bitcoin and Ethereum remain beleaguered. The price of Bitcoin hovers at $64,616, down 4.6%, while Ethereum has slid to $3,368.11, reflecting a 7.6% decrease. The current dips suggest a clear downturn in the market, accompanied by a slide in the fear and greed index from a state of ‘extreme greed’ to a score of 75.

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In this article, we’ll explore some of the biggest decliners in the crypto market and examine their current performance.

Noteworthy Cryptocurrency Losses This Week

From the myriad of cryptocurrencies, several have failed to withstand the market’s volatility and have seen their values erode. For investors, such fluctuation is a familiar aspect of the cryptocurrency ecosystem. This week’s most significant losers include Sei, Injective, BONK, Helium, and Arbitrum. We will take a closer look at each.

Sei (SEI)

The Sei token


is currently valued at $0.8125, having encountered a 22% setback over the past week. The trading volume, too, has slumped by 30% in a day, now sitting at $145,421,778. An attempt at recovery is evident as its market capitalization has experienced a modest uptick of 0.75%, bringing it to $2,175,064,793. Just a week prior, Sei had soared to a record price of $1.14, only to suffer a subsequent decline.

Injective (INJ)

Injective’s price displayed an affirming rise this month, up by 7% from its level a month ago. Currently, it trades at $35.89 after a significant 21.48% drop, but still only 32% below its all-time peak of $52.75 achieved nine days back. This downturn reflects in its market cap, which now stands at $3,352,413,964, and a 31% fall in trading volume to $121,850,088.

BONK

BONK has dropped by 20% over the week but appears to be recovering slightly, with about a 3% resurgence from its position yesterday. Its current price is $0.0000225, which pales in comparison to its all-time high of $0.00004704—a 52% decrement. Although BONK previously garnered much attention, it now finds itself amidst the week’s top losers.

The trading volume remains contracting, now at $142,840,691 after a 30% reduction, yet the market cap shows a 3% increase, ranking 71st with a valuation of $1,465,920,205.

Helium (HNT)

Helium once achieved a yearly zenith of $10.4 but has since slumped by 18%, with its current price at $6.54 and a market cap of $1,051,716,416. Furthermore, its trading volume has plummeted by 33% to $9,130,427. Helium faces a daunting 88% gap from its highest value.

Arbitrum

Arbitrum


is presently trading at $1.62, having declined by 13% over the last week. The token saw a recent all-time high on January 12th at $2.40. Its market cap shows a 1.71% increase to $4,290,401,833, despite a 30% reduction in trading volume to $444,904,844.

Concluding Observations

Sei, Injective, BONK, Helium, and Arbitrum find themselves on the roster of this week’s crypto underperformers. Many have recently reached pinnacle prices only to retreat amidst bearish conditions. It remains to be observed how the market will shift in the upcoming week and which cryptocurrencies will then lead the losses.

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