The Top 5 Losers in the August 2023 Crypto Market
The global crypto market has seen a surge in value, reaching a $1.1 trillion cap after Grayscale’s victory against the SEC. However, not all crypto assets have experienced gains. Here are the top five losers of August 2023:
- FLEX: Despite performing well in the past month, FLEX experienced a 61% drop in the past 24 hours and a 67% drop over the past 30 days. Its market capitalization is currently $170 million.
- HEX: HEX has seen a 51.8% decrease in August and has been consistently declining over the past 30 days. Its market cap stands at nearly $700 million.
- Worldcoin (WLD): WLD has recorded a 43.8% loss over the past month, but has seen minor gains of 13.7% in the past 24 hours.
- Compound (COMP): COMP has experienced a 42.6% decrease in value over the past 30 days, but gained 5.7% in the past 24 hours.
- Ordinals (ORDI): ORDI has seen a 42.3% loss in August, with a 3.5% gain in the past 24 hours.
Despite the overall market rally, these assets have faced significant losses. It remains to be seen how they will perform in the coming months.
Hot Take:
The recent market-wide hike in the global crypto market following Grayscale’s SEC win has brought positive momentum. However, it’s important to remember that not all assets have experienced gains. Investors should exercise caution and keep a close eye on the performance of individual cryptocurrencies.
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