March is off to a disastrous start for Bitcoin (BTC) and that the bill is as often more salty for some altcoins. Let’s take a look at the 5 worst performing cryptocurrencies this week.
The 5 worst performers of the week
It’s no longer news, we’ve mentioned it many times in our columns, the cryptocurrency market has recently gone off the rails. After yet another failure on the $25,200 mark, Bitcoin (BTC) fell more than 20% and abandoned the $20,000 support.
As in every corrective move, some altcoins tumbled harder than BTC. Let’s take a look at the 5 cryptocurrencies that fell the most over the past week. Here is the list:
The TOP 5 biggest losses in cryptocurrencies this week
5 – SingularityNET (AGIX)
With a performance of -40.9% in 7 days, the fifth position of our ranking is occupied by SingularityNET and its token AGIX.
We had already mentioned it in the top 5 best performing cryptos in the Artificial Intelligence (AI) sector in early February. Since then, SingularityNET’s AGIX has printed 204% benefiting from the buzz around this innovative field.
Following such a vertical bullish move, it is therefore relatively logical to see a significant correction.
4 – Stacks (STX)
In fourth place, it is Stacks STX which is down 41% over the same period. Also present in our top 5 best performing cryptocurrencies in February 2023, enjoying a 243% rise in 30 days, STX’s position in this ranking is not illogical.
As a reminder, Stacks allows the creation of smart contracts and the development of decentralised applications on Bitcoin, while taking advantage of the security provided by the network. It’s a kind of second layer solution.
3 – Blur (BLUR)
Third on the podium is the BLUR of the eponymous non-fungible token marketplace (NFT). Following several consistent token airdrops, Blur has been exceptionally popular with NFT enthusiasts.
However, BLUR dropped 41.1% in the space of 7 days, losing nearly $150 million in capitalization.
2 – RSK Infrastructure Framework (RIF)
As you will have noticed if you checked out the top 5 best performing cryptocurrencies in February, RSK Infrastructure Framework’s RIF was also there. After a 200.5% performance in the space of 30 days, RIF corrects by 46.3% over the past week.
Like Stacks, this project has benefited from the recent craze surrounding the arrival of NFTs on Bitcoin. Indeed, RIF is developing a bridge allowing users to interact with a smart contract platform on Bitcoin.
1 – Huobi BTC (HBTC)
At the top of this ranking is Huobi BTC (HBTC), down a whopping 52.9% over the past 7 days. This token is a replica of BTC within the Chinese Huobi exchange ecosystem.
The fall in the HBTC price took place mainly last night. Indeed, after a rather unexplained rise towards $25,000, the asset suddenly lost more than 60% of its value to touch $10,000. In a more global context, the token of the Huobi platform also deviated :
