A few weeks ago we were still talking about a sustained sideways phase on the crypto market, but we are now deep in correction mode. Energy prices, interest rate hikes, war, inflation and Corona: Factors like these are forcing the prices of almost all cryptocurrencies (and also stocks on the regular financial market) to their knees.
In the following, therefore, the biggest losers of the current market situation.
Flop 5: Lido DAO (LDO) course – minus 46.36 percent
A week ago, an LDO token was trading at $2.86. As of today, May 11, the altcoin is trading at $1.55, down 46.36 percent. The project’s market capitalization at the time of writing has plummeted 22.27 percent in a 24-hour comparison alone to $493,589,756.
Flop 4: ApeCoin (APE) price – minus 48.18 percent
4th place on today’s flop 5 of the biggest crypto losers in the top 100 coins ApeCoin (APE) with a minus of 48.18 percent compared to the previous week’s course. An APE token is trading at $7.76 at the time of writing, down 14.67 percent from yesterday.
In the following article, BTC-ECHO editor-in-chief Sven Wagenknecht addressed the question of whether ApeCoin is a promising project or just a short-term bubble:
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Flop 3: TerraUSD (UST) course – minus 51.67 percent
The Luna Foundation stablecoin has decoupled from the US dollar, a disaster for those who have dumped their crypto assets and fiat currencies into the TerraUSD (UST) to escape broader market volatility. One UST token is currently trading at $0.48, down 51.67 percent from a week ago.
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UST’s total market cap has plummeted from $18.8 billion to $7.8 billion over the same period. It remains to be seen if the stablecoin can regain its $1 target.
Flop 2: Stepn (GMT) rate – down 53.73 percent
Stepn (GMT) secures the silver medal with a loss of 53.73 percent last week. The sports NFT project token is currently trading at $1.58, a whopping 63.47 percent below the all-time high of $4.11 set by GMT just 13 days ago. The market capitalization of the project is just under $902 million at the time of writing.
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Flop 1: Terra (LUNA) Price – Down 94.78 percent
In a 24-hour comparison alone, Terra (LUNA) has lost 86.43 percent of its price and is currently trading at $26.04. Compared to the previous week, it looks even bleaker with a minus of 94.78 percent.
Compared to the all-time high of $119.18 that Terra (LUNA) set in early April, the token has lost 96.22 percent.
In addition to the current market mood, the reason for the sharp sell-off is the decoupling of the stablecoin TerraUSD (UST) from the US dollar, because UST, like LUNA, belongs to the same ecosystem.
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