The crypto market is slightly returning to bullish ways after spending the last seven days in a correction. During this period, digital assets such as Bitcoin and Ethereum have posted deep declines in the same duration. Presently the tokens are doing well, and the general market is up by 1.03%. However, that does not mean that there are some worst-performing cryptos in the crypto market. Owing to some factors involved, tokens do not trade the same way every time. This article will focus on digital assets in the market that has performed woefully in the last seven days.
Top 5 Worst Performing Crypto for the week 15
While many of today’s best performances are from top tokens, there are also tokens in the top 20 that have seen declines. However, considering a larger scale of seven days, only a few of them are doing well in the market. Below are the top five worst performing crypto for this week;
#1 Waves (WAVES; -49.28%)
Taking up the first position for this week with a huge -49.28% performance across the last seven days is WAVES. Waves is a blockchain with more than one level and support dApp and smart contracts across the crypto sector. The blockchain was floated after an Initial Coin Offering in 2016. One of the few things that sold Waves to people was its ability to challenge blockchains already in the market due to its speed, friendly interface, and utility. Waves is presently trading at $25.80, seeing a small surge of about 0.34% in the last 24 hours. The token has posted a market cap and trading volume of $2,785,376,307 and $877,817,682 in the same time frame. The blockchain has 107,964,496 WAVES tokens in circulation.
#2 Ziliqa (ZIL; -27.01%)
This week’s second place on the list is ZIL, with a -27.01% performance in the last seven days across the market. Ziliqa is a blockchain that offers traders a high throughput. With this, the blockchain is able to carry out more than thousands of transactions every second. The blockchain employs sharding in its second layer to eliminate issues related to scalability and speed. Ziliqa houses many projects in the market, but it also allows traders to stake and farm yields. ZIL is trading at $0.1217 in the last 24 hours, seeing a surge of 4.26%. The token has a trading volume of $566,314,411 and a live market cap of $1,528,524,238 in the last 24 hours. 21,000,000,000 ZIL tokens are presently in circulation.
#3 Aave (AAVE; -26.14%)
Ranking third this week is the famous DeFi token, AAVE, with a massive drawback at -26.14% across last week. Aave works as a protocol that allows traders to borrow and lend crypto across the DeFi market. Lenders will earn rewards for donating to the liquidity pools, while borrowers will use their crypto as collateral to collect loans from the liquidity. Aave first entered the market in 2017 with a different name, ETHLend, but the developers soon changed it to Aave in 2018. The token is presently trading at $179.44, seeing a slight dip in the value of about 1.34% in the last 24 hours. The token’s trading volume and market cap are around $202,669,153 and $2,453,997,160 in the last 24 hours. There are around 13,680,165 AAVE tokens in existence and circulation.
#4 Axie Infinity (AXS; -23.60%)
The native digital asset of play to earn game, Axie Infinity ranks up in the fourth position in the top 5 worst performing crypto for the week with a -23.60% performance over the last seven days. The play-to-earn game is a battling game where users earn rewards for moving up across levels. Axie Infinity allows players to own, breed, and battle with their Axies. There are tons of Axies available, and players earn Smooth Love Potion for every completed level in the game. AXS is trading around $51.12, seeing a downtrend of 2.03% in the last 24 hours. The token has a trading volume of $223,587,057 in the last 24 hours. It also has a live market cap of $3,120,268,517 in the same time frame. There are about 60,907,500 AXS tokens in circulation.
#5 Harmony (ONE; -23.05%)
Taking up the last position for this week’s top 5 is the native token of Harmony, ONE, with a performance of -23.05 across the week. The Harmoney blockchain creates and uses special dApps across the DeFi sector. It uses sharding on a random state which helps to create blocks in seconds. The project projected that it would revolutionize 2021 by debuting cross sharding and cross-blockchain infrastructure. ONE is presently trading at $0.130, seeing a jump of 0.30% in the last 24 hours. The digital asset boasts a market cap of $1,554,480,960 and a trading volume of $60,005,483 in the same time frame. There is currently a supply of 11,938,405,746 ONE coins in circulation.
Conclusion
Other noticeable tokens making up the top 10 includes IoTeX (-22.17%), The Graph (-22.06%), Icon (-21.51%), Thorchain (-21.43%), and Tezos (-20.37%). Although the market is recently coming back up, it recently suffered a correction. Traders should note that the market is still trying to regain the levels that it has achieved in previous years. This goes without saying that traders should ensure they look into the crypto they are willing to trade. In this period of volatility, one can mistake a slight increase to mean a perfect coin. It is also advisable to diversify one’s portfolio in case of another correction or general market decline.
