The past 7 days have been very sad for crypto investors. Since the price of Bitcoin (BTC) began to decline rapidly on April 19, 2023 and fell almost 10% in a week, the entire market, including leading digital coins and tokens, began to fall synchronously. As of 17:00 Moscow time on April 25, 2023, 17 of the 100 best digital assets immediately lost 20% of their price or more.
Thus, almost 20% of the best cryptocurrencies fell by 1/5 of their value in 7 days. The leader with a minus sign was PancakeSwap (CAKE). The native token of the decentralized exchange based on BNB Chain lost more than a quarter in price during the reporting time period.
CAKE quotes decreased by 27.2% and dropped to $2.64. The total supply of tokens was recorded at $513.17 million. At the same time, traders were extremely active in the market and secured transactions worth $1.15 billion during the reporting week. By the way, just over the past day the cryptocurrency rate fell by 12.3%.
Second place in the ranking of losers remained for Arbitrum (ARB). Researchers said that the price drop was due to the virtual asset being overbought. In addition, among the reasons, pressure from sellers was indicated. This happened on the eve of the airdrop of the token worth more than $118 million. Ultimately, ARB quotes fell by 25.5%, also losing more than a quarter of the price a week ago.
The market capitalization of the digital token was fixed at $1.67 billion. The digital asset could be purchased at an average cost of $1.31. Market participants completed transactions with ARB totaling $3.84 billion over the past week.
Finally, the Fantom (FTM) cryptocurrency lost 24.65% of its value during the reporting period. Its rate fell to $0.404, and the total supply on the market was $1.12 billion. Trading volumes at a distance per week amounted to $988.3 million.
