The cryptocurrency market has followed a volatile course in recent months. In the process, some altcoin projects lost more than 30% of their value in a month. Let’s take a closer look at these altcoins.
3 altcoins sitting at the forefront of the losers club!
As you follow on Kriptokoin.com, the crypto market has been a bit stagnant lately. However, it has followed a rather volatile course in recent months. Leading crypto Bitcoin and most altcoins started a rally after Grayscale’s victory over the SEC. However, this spring weather did not last long. It gave back its gains after the SEC postponed its decisions on spot Bitcoin ETF applications. During this volatile period, some altcoins saw sharp declines. Among the top 100 cryptocurrencies, the three worst performing altcoins in the last 30 days are:
- Gala Games (GALA): 32.57% loss.
- GMX Protocol (GMX): 32.40% loss.
- Pepe (PEPE): 30.39% loss.
Top 100 losers in the last 30 days. Source: CoinMarketCapInterestingly, these three altcoins have been among the best-performing assets in the past. While PEPE and GMX attracted market attention in 2023, GALA performed well during the blockchain gaming fever of the 2021s and 2022s.
Gala Games (GALA) sits first among the losers.
Gala Games was created by game developers who want to make Blockchain games fun and more playable. The altcoin has eliminated the focus on financial incentives that dominated the sector during the last bull market. GALA is a utility token used by games launched on the Gala Games store to purchase NFTs and other resources. The token is changing hands between $0.015 and $0.02 depending on press time. Meanwhile, it ranks 85th by market cap with a trading volume of over $40 million in the last 24 hours.
GALA 1 month price chartThe second-ranked altcoin is GMX Protocol (GMX)
GMX Protocol is a decentralized exchange (DEX) for margin trading. It allows traders to open leveraged trading positions by depositing collateral in Ethereum (ETH), Avalanche (AVAX) or Circle USD (USDC). Interestingly, these traders bet against GMX holders who provide liquidity and collect fees from operations. GMX is also a governance token. This allows owners to vote on governance proposals for the platform. Meanwhile, GMX is trading at $34.05 as of press time. The altcoin is close to falling out of the top 100 with a trading volume of close to $17 million in the last 24 hours.
GMX 1 month price chartPopular meme coin Pepe (PEPE) has also fallen off the cliff!
Pepe became the top trending meme coin in 2023 with its massive supply of 420.69 trillion tokens. Thus, it entered the top 100 cryptocurrencies after a huge purely speculative move. PEPE investors panicked when the Ethereum address (“0xa34…f2ea0”) belonging to the team behind Pepe transferred 16,045 trillion dollars worth of 16.85 million dollars to four exchanges on Binance, OKX, KuCoin and Bybit on August 24. Meanwhile, PEPE is trading at $0.000000806 at press time. Additionally, the token has a 24-hour trading volume of $36,593,758. PEPE is ranked 91st in the current CoinMarketCap rankings.
PEPE 1 month price chart
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