The global crypto market saw a sharp decline on Friday as bears dragged Bitcoin below the $28,600 mark. The leader of this market has fallen by more than 3.5% in 24 hours which has shaken investor confidence in other cryptos. There were 5 cryptocurrencies with over $1 billion in market capitalization the most affected not only in 24 hours but also in the last seven trading sessions. ApeCoin and Avalanche were on the list.
According to CoinMarketCap, Bitcoin is trading at $28,576.51 down 3.22%. At the current level, it has a market capitalization of $544.79 billion. However, Bitcoin’s dominance continues to shine with an increase of 0.48% on the day to currently stand at 45.89%.
Bitcoin’s counterpart, Ether, which is the second largest crypto, also faced a massive offload as it traded above $1,740 with a decline of over 7%.
The global crypto market capitalization stood at $1.19 trillion, down 3.60% over the past day. The total market volume was $91.83 billion, which was down 1.10% from the previous day. Total DeFi volume is currently $6.99 billion, or 7.62% of the total 24-hour crypto market volume. The volume of all stablecoins is now $79.20 billion, or 86.25% of the total 24-hour volume of the crypto market.
Here is the list of the 5 cryptocurrencies with a market capitalization of over $1 billion, which have been the most affected in the last 7 days, according to CoinMarketCap.
1. Elrond (EGLD):
Elron is currently trading around $67.38 down 14.71% in the last 24 hours. At the current price, it has a market capitalization of over $1.13 billion, ranking 41st among the 100 cryptos.
Over the last seven days of trading, EGLD has fallen over 23.5%.
Elrond was announced in August 2019 and almost a year later it went live in July 2020. It is a blockchain protocol offering extremely fast transaction speeds using sharding.
EGLD had reached an all-time high of $542.58 on November 23, 2021. Since then, it has fallen almost 88%.
2. ApeCoin (APE):
An ERC-20 governance and utility token, ApeCoin has traded at $6.05 down 11.97% in the past 24 hours. It ranks 34th with a market capitalization of nearly $1.78 billion.
Over the past seven days, until May 27, the coin has fallen almost 20%.
ApeCoin uses the APE ecosystem to enable and encourage the creation of decentralized communities at the cutting edge of the web3.
It had hit an all-time high of $39.40 on March 17 of this year.
3. Avalanche (AVAX):
AVAX traded at $22.56 down 10.15% in the past 24 hours. At the current level, its market stands at nearly $6.10 billion and remains in 15th place.
Over the past seven days, AVAX has plunged almost 20%.
Measured by time to finality, AVAX is the fastest smart contract platform in the blockchain industry.
It had registered an all-time high of $146.22 on November 21 last year. Since then, the coin has plunged nearly 85%.
4. Manufacturer (MKR):
MKR ranks 47th among the major cryptocurrencies. It is trading at $1,140.94 down 5.2% in the last 24 hours with a market capitalization of $1.11 billion.
Over the past seven days, the MKR has fallen nearly 18%.
It allows users to issue and manage the DAI stablecoin. Notably, MKR is a governance token of MakerDAO and Maker Protocol – a decentralized organization and software platform respectively, both based on the Ethereum blockchain.
The coin had reached an all-time high of $6,339.02 on May 3, 2021. Its annual decline is around 82%.
5. ZCash (ZEC):
ZEC traded $85.47 lower, or 3.82% in the past 24 hours, with a market capitalization of around $1.24 billion. ZEC’s ranking is 43rd in the top 100 cryptos.
Over the past seven days, the ZEC has fallen by more than 16%.
As a decentralized cryptocurrency, ZEC focuses on privacy and anonymity. The coin adopts zk-SNARK zero-knowledge proof technology that allows network nodes to verify transactions without revealing any sensitive information about those transactions.
It had reached an all-time high of $5,941.80 on October 29, 2016.