Avalanche, Shiba Inu Are Among 5 Worst Performing Cryptos in Past Week

Whereas bitcoin and ethereum dominate the headlines, there are greater than 19,000 crypto cash.
With much less liquidity and extra volatility, these different cryptocurrencies can ship buyers huge losses or positive aspects in a brief time period.
These had been the 5 worst performing cryptocurrencies over the previous week, in line with information from CoinMarketCap.

Bitcoin’s bear market has sucked the life out of many well-liked cryptocurrencies, with the entire crypto market capitalization falling from $3 trillion to around $1.3 trillion today.

With greater than 19,000 cryptocurrencies in existence and counting, there are greater than triple the variety of crypto cash than there are US exchange-listed shares. That huge quantity of provide makes it practically inconceivable to maintain observe of all the massive movers within the crypto sector exterior of well-known cash like bitcoin, ether, and dogecoin.

The surge in new crypto cash got here amid an enormous

bull market

for the sector in 2021, however a more than 50% decline in bitcoin from its November excessive has dragged the entire sector decrease, particularly smaller cash that noticed extraordinary positive aspects final yr like solana, cardano, and polkadot.

The implosion of Luna and its related stablecoin, TerraUSD, has additionally dented confidence within the crypto house and has some buyers questioning the soundness of different $1 pegged cash.

With much less

liquidity

and extra

volatility

, these different cryptocurrencies can ship buyers huge losses or positive aspects in a brief time period. For instance, squid game token fell 99% in a single day final yr after delivering swift positive aspects of 75,000%.

Maintaining a tally of the weekly winners and losers may help buyers establish which cash are starting to achieve and lose traction within the crypto neighborhood.

These had been the 5 worst performing cryptocurrencies with a market worth of greater than $1 billion over the previous week, in line with data from CoinMarketCap.

5. Theta Community

Image: THETA
Market Worth: $1.3 billion
7-Day Efficiency: -14.5%