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On Friday, the global crypto market witnessed a steep dive as bears dragged Bitcoin to below the $28,600-mark. The leader of this market slumped more than 3.5% in 24 hours which dampened confidence among investors in other cryptos. There were 5 cryptocurrencies with more than $1 billion market cap worst-hit not just in 24 hours but also in the last seven trading sessions. ApeCoin and Avalanche were on the list.
As per CoinMarketCap, Bitcoin trades at $28,576.51 down by 3.22%. At the current level, it has a market cap of $544.79 billion. However, Bitcoin's dominance continues to shine with an increase of 0.48% over the day to currently at 45.89%.
Bitcoin's counterpart Ether which is the second-largest crypto, also faced massive offloading as it traded over $1,740 with a drop of more than 7%.
The global crypto market cap stood at $1.19 trillion down by 3.60% over the last day. The total market volume was at $91.83 billion which makes a 1.10% decrease over the previous day. The total volume in DeFi is currently $6.99 billion, 7.62% of the total crypto market 24-hour volume. The volume of all stable coins is now $79.20B, which is 86.25% of the total crypto market's 24-hour volume.
Here is the list of 5 cryptocurrencies with a market cap of over $1 billion, which was the worst hit in the last 7 days, as per CoinMarketCap.
1. Elrond (EGLD):
Elron currently trades around $67.38 down by 14.71% in the last 24 hours. At the current price, it has a market cap of more than $1.13 billion ranking 41st in the 100 cryptos.
In the past seven days of the trading session, EGLD slumped more than 23.5%.
Elrond was announced in August 2019 and nearly a year later it went live in July 2020. It is a blockchain protocol offering extremely fast transaction speeds by using sharding.
EGLD had clocked an all-time high of $542.58 on November 23, 2021. Since then, it has slipped by nearly 88%.
2. ApeCoin (APE):
An ERC-20 governance and utility token, ApeCoin traded at $6.05 lower by 11.97% in the last 24 hours. It ranks 34th with a market cap of nearly $1.78 billion.
In the past seven days, up to May 27th, the coin has slumped by nearly 20%.
ApeCoin uses APE Ecosystem to empower and incentivize decentralized community building at the forefront of web3.
It had touched an all-time high of $39.40 on March 17 this year.
3. Avalanche (AVAX):
AVAX traded at $22.56 down by 10.15% in the last 24 hours. At the current level, its market stood at nearly $6.10 billion and stays at 15th rank.
In the last seven days, AVAX has plunged nearly 20%.
Measured by time-to-finality, AVAX is the fastest smart contracts platform in the blockchain industry.
It had recorded an all-time high of $146.22 on November 21 last year. Since then, the coin has dived by nearly 85%.
4. Maker (MKR):
MKR stands at 47th rank in the top cryptocurrencies. It is trading at $1,140.94 down by 5.2% in the last 24 hours with a market cap of $1.11 billion.
In the last seven days, MKR has dipped by nearly 18%.
It allows users to issue and manage the DAI stable coin. Notably, MKR is a governance token of the MakerDAO and Maker Protocol — respectively a decentralized organization and a software platform, both based on the Ethereum blockchain.
The coin had touched an all-time high of $6,339.02 on May 3, 2021. Its yearly drop is around 82%.
5. ZCash (ZEC):
ZEC traded at $85.47 lower by 3.82% over the last 24 hours with a market cap of around $1.24 billion. ZEC's ranking is 43rd in the top 100 cryptos.
In the last seven days, ZEC has dipped by over 16%.
Being a decentralized cryptocurrency, ZEC focuses on privacy and anonymity. The coin adopts the zk-SNARK zero-knowledge proof technology which allows nodes on the network to verify transactions without revealing any sensitive information about those transactions.
It had touched an all-time high of $5,941.80 on October 29, 2016.
