On Friday, the global crypto market witnessed a sharp decline as bears pulled bitcoin below the $28,600 mark. This market leader fell more than 3.5% in 24 hours, reducing confidence among investors in other cryptos. The 5 cryptocurrencies with a market cap of over $1 billion were the worst hit, not just in 24 hours but in the last seven trading sessions. Apcoin and Avalanche were on the list.
According to CoinMarketCap, Bitcoin It is trading at $28,576.51 with a decline of 3.22%. Its market cap at current levels is $544.79 billion. However, Bitcoin dominance is currently shining at 45.89% with a gain of 0.48% during the day.
Ether, the second-largest cryptocurrency equivalent to bitcoin, also faced massive offloading as it traded below $1,740, down more than 7%.
The global crypto market cap fell by 3.60% to $1.19 trillion compared to the previous day. Total market volume was $91.83 billion, down 1.10% from the previous day. The total volume of DeFi currently stands at $6.99 billion, which is 7.62% of the total 24-hour volume of the crypto market. The volume of all stable coins is now $79.20B, which is 86.25% of the total 24-hour volume of the crypto market.
According to CoinMarketCap, here is a list of 5 cryptocurrencies with a market cap of over $1 billion that have been hit the most in the past 7 days.
1. Elrond (EGLD):
Elron is currently trading at around $67.38 with a decline of 14.71% over the last 24 hours. At current prices, it has a market cap of over $1.13 billion and is ranked 41st among 100 cryptocurrencies.
In the last seven days of the trading session, the EGLD lost over 23.5%.
Elrond was announced in August 2019 and went live almost a year later in July 2020. It is a blockchain protocol that uses sharding to provide extremely fast transaction speeds.
EGLD saw an all-time high of $542.58 on November 23, 2021. Since then, it has fallen by about 88%.
2. Apcoin (APE):
ApeCoin, an ERC-20 governance and utility token, traded at $6.05 with a drop of 11.97% over the past 24 hours. It is ranked 34th with a market capitalization of approximately $1.78 billion.
In the past seven days, as of May 27, the coin has fallen by almost 20%.
AppCoin uses the APE ecosystem to empower and encourage decentralized community building at the forefront of Web3.
It touched an all-time high of $39.40 on March 17 this year.
3. Avalanche (AVAX):
AVAX was trading at $22.56, down 10.15% in the last 24 hours. At the current level, its market is about $ 6.10 billion and remains in the 15th position.
AVAX is down almost 20% over the past seven days.
Last measured over time, AVAX is the fastest smart contract 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 declined by about 85%.
4. Manufacturer (MKR):
The maker is ranked 47th among the top cryptocurrencies. It is trading at $1,140.94, down 5.2 percent in the last 24 hours with a market cap of $1.11 billion.
MKR is down about 18% in the past seven days.
It allows users to issue and manage the DAI stable coin. Specifically, MakerDAO is a governance token of MakerDAO and Maker Protocol – a decentralized organization and a software platform, respectively, both based on the Ethereum blockchain.
The coin touched an all-time high of $6,339.02 on May 3, 2021. Its annual decline is about 82%.
5. ZCash (ZEC):
ZEC traded down 3.82% over the past 24 hours at $85.47 with a market cap of approximately $1.24 billion. ZEC is ranked 43rd among the top 100 cryptocurrencies.
In the past seven days, ZEC is down by over 16%.
Being a decentralized cryptocurrency, ZEC focuses on privacy and anonymity. The coin adopts zk-SNARK zero-knowledge proof technology that allows nodes on the network to verify transactions without revealing any sensitive information about those transactions.
It touched an all-time high of $5,941.80 on 29 October 2016.