The recent downturn in the crypto-currency market, driven by bitcoin’s fall into the $21,000 area, has left several assets with double-digit declines over the past seven days.
Among these crypto-currencies, there are at least 10 of the top 100 with declines of more than 14%. These were the hardest hit coins last week, among the most valuable in the entire market.
The hardest hit in this range is Fantom (FTM), which fell 26.79% according to CoinMarketCap records. It is followed by three other cryptocurrencies with a depreciation of more than 20%. These are Terra (LUNA), DYDX and, strikingly, one of the biggest year-to-date winners – Aptos (APT), down 23%. This APT is up over 300% this year, and was the biggest winner in the top 50 most valuable crypto-currencies.
Terra Classic (LUNC), EthereumPoW (ETHW), Avalanche (AVAX), Render Token (RNDR), ApeCoin (APE) and Optimism (OP) round out the list. The latter has performed very well, after rising more than 200% for the year. Now, its cumulative rise in 2023 is about 159% after this setback.
On the other hand, the AGIX (SingularityNET) and The Graph (GRT) currencies continue to perform well in the market. As we’ve pointed out before in CryptoNews, there is a rising trend: crypto-currencies related to artificial intelligence and big data, industries to which the aforementioned currencies belong.
Recent market downturn
After a month of relentless rise in January, the crypto-currency market retreated in the first days of February. The fall is led, as is usually the case with these movements, by the trend formed by bitcoin.
As we reported on Thursday, February 9, the market’s leading crypto-currency has retreated amid fears of a major regulatory crackdown on the sector. As of this writing, bitcoin is trading at $21,700.