The blockchain-cryptocurrency domain has been on a roller coaster ride in 2021. Recently, bitcoin crossed $60,000 in the wake of mainstream crypto adoption and might soon cross the $100K, according to some experts. But then, a series of events led to a slump in the market, with prices plummeting rapidly. Some cryptocurrencies that were doing exceptionally well turned out to be the biggest crypto losers.
There are multiple reasons for this downward spiral. Elon Musk, who had earlier decided to accept bitcoin payments for his Tesla cars, changed his mind, controversially citing environmental concerns. China walked on a similar path by coming down heavily on crypto mining in the country. Curiously, however, China is planning to launch its CBDC.
Besides amateurish fears gripping investors, certain malicious actors took advantage of the bull run to float pump-and-dump schemes. As a result, scam coins were on the rise, duping investors of millions of dollars. Overall, the positive note on which crypto started its journey in 2021 has suffered some severe blows. Alongside bitcoin, a majority of altcoins have also taken a hit due to speculative FUD. Against this backdrop, let us discuss some of the crypto domain’s biggest losers from last month.
The 5 Biggest Crypto Losers
Following is a list of coins that suffered the most significant losses. We will start with the coins having the highest difference from their all-time high (ATH) prices.
Internet Computer
ICP is a utility token of Internet Computer, a blockchain that runs at web speed and is highly scalable. It is a governance token enabling token holders to vote and decide the future of the protocol. ICP also functions as a store of value and fuel for running computational functions on the network. Additionally, it facilitates rewards for incentivizing good behavior within the community. ICP is a significant crypto loser with a 30-days high of $145.82 and a low of $31.64.
- ATH Price: $737.20 (10th May, 2021)
- Today’s Price: $32.33
- Price Difference: 95.61% ↓
XRP
XRP is the native digital currency of the Ripple network, facilitating faster, cheaper, greener, and scalable decentralized transactions. In addition, RippleNet, the digital payment platform built on XRP Ledger, allows its customers to use XRP for liquidity sourcing in cross-border transactions. In the last 30 days, XRP reached its highest at $1.10 and its lowest at $0.5127.
- ATH Price: $3.84 (4th January 2018)
- Today’s Price: $0.6333
- Price Difference: 83.30% ↓
Shiba Inu
SHIB is a meme coin that derives inspiration from Dogecoin but aims to overtake it someday. This ERC-20 token is an experiment in decentralized community building, with all tokens available on crypto exchanges. Unfortunately, SHIB is a massive loser because, in the 30-days cycle, the coin recorded its highest of $0.0000104 and lowest of $0.00000557.
- ATH Price: $0.0000388
- Today’s Price: $0.000007197
- Price Difference: 81.23% ↓
Vechain
VET is a digital token on VeChain, a blockchain-powered supply chain management platform. VET holders can use it for network transactions and earn a passive income in VTHO, the platform’s second coin. In a 30-days cycle, VET was a big crypto loser with a high of $0.1528 and a low of $0.05985.
- ATH Price: $0.2782 (17th April, 2021)
- Today’s Price: $0.07336
- Price Difference: 73.63% ↓
Dogecoin
DOGE is the first meme coin in the crypto domain that started as a joke but eventually became very successful. The DOGE community often uses this P2P asset for tipping content creators on the network. DOGE is also a big crypto loser, recording $0.4446 highest and $0.1647 lowest in a 30-days trading cycle.
- ATH Price: $0.7376 (8th May 2021)
- Today’s Price: $0.245
- Price Difference: 64.12% ↓
A Silver Lining
If you are a crypto enthusiast, don’t feel disheartened by these statistics. Despite the downward trends, everything’s not lost yet. Some of the currencies in the above list are already making their comeback and gaining back what they lost. Crypto analysts can already detect signs of market recovery. Moreover, let us not forget the enormous gains that some of these digital assets have made this year. So much so that even meme coins like Dogecoin have witnessed an 8000% surge in 2021.
Considering these factors, you must look at the bright side of the story. If you are new to crypto, this might be a good time to buy into the sector. Sooner or later, the phoenix will rise, and you will soar. But as we always assert, knowledge is power, so learn before you leap. To this end, Airdrop Alerts is here to help. Be it crypto bonus programs or the latest crypto trends, keep following us for news and updates!
