Mar 21, 2022 10:50
The crypto market is gradually returning to its usual flurry of greens after the decline of the last few weeks. Although some reds can be seen as evidenced on CoinMarketCap, the market's outlook is convincing. Like most of the tokens seeing a slight surge in price, Bitcoin has been enjoying the rise over the last few days. The crypto market cap is up by 0.46% to post a cumulative value of $1.89 trillion. Meanwhile, the cumulative volume at the time of writing is presently around $82.99 billion, seeing a massive decline of 14.13% in the last 24 hours. With more tokens looking to join the surge in the coming days, this article will look into the week's top 5 worst performing cryptos.
Top 5 Worst Performing Cryptos For The Week
Despite the seemingly rejuvenated market, some tokens are still being left behind in performance. These tokens have not been able to report a good performance, or the bears have now taken them over. With that being said, below is a list of the top 5 worst performing cryptos for the week.
#1 Anchor Protocol (ANC) -11.24%
Fig. 1. ANC/USD Chart on TradingView
Anchor Protocol leads the way this week for the top 5 tokens that have performed woefully. The borrowing and lending platform was one of the worst performers for last week. However, it has continued to shed more value as it has made its way to the top of the pick. Anchor allows traders to leverage the low volatility provided by the platform to carry out their respective activities. With this, traders who opt for high yields while facing little risk can benefit from trading on the protocol. The native token of the platform, ANC, is trading at $2.75 while registering a loss of 0.17 in the last 24 hours. Over the week, the token has witnessed a massive decline to post a performance of -11.24%. ANC has a trading volume of $57,391,893 and a market cap of $731,354,755. Presently, there are about 265,572,967 ANC tokens in circulation.
#2 Kadena (KDA) -6.09%
Fig. 2. KDA/USD Chart on TradingView
Kadena is a new entrant in this bracket as the digital asset is trying to recover from a seemingly long run of losses. The protocol provides users with a high level of throughput by combining the layer 1 chain with the layer 2 chains of the network. Despite this, the platform claims to provide a high level of security and scalability. Kadena wants to use blockchain to solve issues in the real world as it will look to provide tools to that effect in the future. Its native token, KDA, is presently trading at $6.22, registering a loss of 0.90% in the last 24 hours. In the last 24 hours, it has posted a trading volume of $61,065,755 and a market cap of $1,065,211,842. The protocol presently has about 171,287,601 KDA tokens in circulation.
#3 Secret (SCRT) -1.33%
Fig. 3. SCRT/USD Chart on TradingView
Secret is also another new entrant in this category as it is also trying to shed off the market decline of the previous weeks. The protocol is built on Cosmos, boasting one of the tenets of the crypto sector, which is privacy. Smart contracts on the protocol are called Secret contracts, and dApps can take advantage of private data on the platform. This means that the smart contracts work the same way as those on other blockchains. One feature that Secret provides is the encryption of output without exposing any data. SCRT is presently trading at $4.61, posting a loss of 1.04% in the last 24 hours. Across the last seven days, the token has registered a loss of 1.33%. It boasts a trading volume of $20,256,555 in the last 24 hours with a market cap of 753,203,778. There are about 163,295,557 SCRT tokens in circulation.
#4 Klaytn (KLAY) -0.36%
Fig. 4. KLAY/USD Chart on TradingView
Klaytn is currently handling its comeback into winning ways carefully as it continues to recoup lost values slowly. The token is just a bit shy of going green, which can be possible in the coming days. Klaytn is a blockchain available to the entire public focused on projects across the Metaverse. It was first launched in South Korea in 2019 before assuming a base in Singapore, where it is pushing for broader outreach. KLAY is currently trading around $1.11, with a small surge of 0.07% in the last 24 hours. However, the token still has much to do concerning its performance of a decline of 0.36% in the last seven days. In the last 24 hours, KLAY has posted a trading volume of $49,978,426 and a market cap of $3,064,612,535. The current amount of KLAY in circulation is around 2,760,876,195.
#5 Neutrino USD (USDN) -0.29%
Fig. 5. USDN/USDT Chart on TradingView
Taking up the last spot for the week is Neutrino USD, which is also another new entrant in this bracket. Like the other tokens, it is also looking for a comeback from a previous decline across weeks. Although it will not be easy, it is doing a pretty good job to that effect. The Neutrino USD is a stablecoin pegged to the dollar and used for crypto collateral. The protocol ensures that a smart contract governs every activity carried out using the token. USDN is presently trading at $0.993, with a decline in performance of about 0.19% in the last 24 hours. The token boasts a trading volume of $9,048,098 and a market cap of $734,703,829 in the same time frame. Presently, there are about 739,257,274 USDN tokens in circulation.
Conclusion
The performance of these tokens has shown that the market is gradually returning to a better place, as adjudged by the numbers. Although some tokens are quietly returning to the upside, other relatively unknown tokens will have to surmount challenges to follow suit. This goes without saying that traders should be careful when making investments. Even though the market is doing well, you should not leave a chance for a turn in fortune. This is why it is mandatory and essential to carry out research into the token you wish to invest your money on. Asides from that, it is also advisable to diversify your portfolio. This will help you manage losses while registering some gains across your portfolio.
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