Coin Market Slumps Again On Friday, Losing 9% of Global Market Cap


Friday, August 19 saw the coin market in red with BTC losing 9% of its value in 24 hours. The coin which is currently trading at $21,360 has dropped by 11% in the past 7 days.

The global coin market capitalization dropped to $1.03 trillion from $1.13 within the same 24 hour period. This also corresponds with a 9% drop.

All the top 100 tokens are in red, with Filecoin as the biggest loser dropping by 18% at the time of reporting.

Ether trading at $1,701, also dropped by 9%, bringing its 7 day loss to 10 %. Binance Coin (BNB) is down by 7%, bringing its 7 day loss to 12%, while ripple is down by 11%.

Cardano, Dogecoin, Polkadot

Cardano lost 13% bringing its 7 day loss to the same value, while Solana is down by 11%, bringing its weekly loss to 15%. Dogecoin, which is down by 15% in the past 24 hours, recorded a 7 day loss of 2%. This is an indication that the token has had an impressive run prior to this week.

Polkadot, with its 11% loss is down on the weekly chart by 20%, an indication that the coin had had a not-too-good run prior to this week.

Shiba Inu is down also by 11%, but it’s actually up by 6% on the weekly chart with a buy sentiment. Avalanche is down by 12%, bringing its 7 day loss to 22%.

At a market price of $0.785, Polygon is down by 13%, while on the weekly chart, it has lost 15%. Tron lost 4%, bringing its market price to $0.065, a 7% loss on the weekly chart.

Biggest Losers On The Daily Chart

On the 24 hour chart, the biggest losers are Filecoin – 18%, Apecoin – 16%, Zcash – 15%, Thorchain (RUNE) – 15%, Fathom – 14%, Axie Infinity – 14%, THETHA – 13%, Bitcoin SV – 13%, Lido DAO – 13%. Others are Enjin, DASH, Zilliqua and Stash, all of which lost an average of 13%.

Still on big losers for the day are Compound, Celo, Holo, Quantum, Gala and Ankr. All these lost an average of 13%.

The Biggest Losers On The 7-Day Chart

On the 7-day chart, the big losers are Solana – 15%, Polygon – 15%, Ethereum Classic – 18%,  Polkadot – 20%, Vechain – 20%, Filecoin – 22%, Avalanche – 22%, Uniswap – 22%, Flow – 22%, Chainlink – 23%, Near Protocol – 25%.

Author: Jofor Humani

Jofor is a crypto journalist with passion for investigative review of projects with the aim to determine the authenticity of their claims.

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