Bitcoin, Ethereum Slump as SUN and PEOPLE Plummet

While bitcoin has dropped 7.6% over the past week and ether has slid 7.98%, many other assets have faced notable declines.

The cryptocurrency market experienced a downturn this week, with the total market capitalization decreasing by 3.27% to reach $1.91 trillion on Friday. Several digital assets faced significant losses against the U.S. dollar.

Bitcoin (BTC) dropped by 7.6% during the seven-day period, while ether (ETH) slipped by 7.98%. Among the seven-day gainers, helium (HNT) surged by 27.23%.

Bitcoin, Ethereum Slump as SUN and PEOPLE Plummet

By Friday, the overall crypto market had fallen 3.27%, settling at $1.91 trillion after a particularly volatile week. Leading cryptocurrencies, BTC and ETH, both experienced losses ranging from 7.6% to 7.98%, and around 34 different digital currencies saw double-digit losses against the U.S. dollar.

SUN’s 23.61% drop earned it the title of the week’s biggest loser, closely followed by constitution dao (PEOPLE), which tumbled 22.66%. Layerzero (ZRO) declined 22.12%, while zcash (ZEC) recorded a 17.54% loss over the same period.

Other notable losers included PENDLE, ASTR, PRIME, EGLD, ATOM, and KLAY, each falling between 14.42% and 17.24% against the U.S. dollar. Additionally, RON, MOG, AIOZ, and IMX saw losses ranging from 13.53% to 14.31%. The largest drop among the top ten assets was ETH’s 7.98% slide.

Despite the downturn, helium (HNT) led the way with a 27.23% increase, and a few others managed to secure double-digit gains. Beldex (BDX) jumped 22.61%, and starknet (STRK) rose by 14.25%. Among other top performers were GMT, SUI, ORDI, BSV, and UNI, all posting gains between 7.8% and 9.98%.

What do you think about the crypto losses witnessed this past week? Share your thoughts and opinions about this subject in the comments section below.

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