4 Worst Performing Mainstream Cryptos This Summer

However, some digital assets didn’t have a good month in terms of profits and performance. It’s partly fueled by the booming of some DeFi coins and the recovery seen primarily on BTC, which led to corrective moves in some way.

Still, there are more facts to look at, such as Cardano (ADA), which was among the worst performers of cryptocurrencies in July. According to the figures coming from Coinmarketcap and TradingView, Shiba Inu (SHIB), Filecoin (FIL), ADA, Algorand (AGO), and Yearn.finance (YFI) were the worst cryptos in terms of returns given during such period.

SHIB Failure

The well-known SHIB tops the ranking with a substantial decline of -28% monthly. Although the coin was created in August 2020, it has struggled to gather momentum and resume the bullish bias that several crypto traders thought it would. Its market cap stands at 2.773B, currently exchanging hands at 0.00000702000. It aims to be the counterpart of Dogecoin (DOGE), but will it succeed on the road? Some people in the crypto sphere believe it’s pretty early to state that Shiba Inu won’t be a mainstream coin. Time will tell.

Filecoin

On the other hand, and in second place, Filecoin lost ground in July by -12.4%, now hovering at the end of August around 72.24. The market cap of FIL remains at 7.191B according to TradingView stats, and it seems the altcoin keeps on the bearish track to post new lows across the board.

Cardano

The third place belongs to Cardano, which had limited losses of -3.8% compared with the previous ones. The price is still quite bullish as an overall picture. The market cap is at 80.725B. and ADA has been performing well in terms of its recovery from the substantial decline witnessed over the last few months in the crypto space. However, it needs to overcome the critical hurdle at 2.60 to open the doors for further advances.

Algorand

Now, the fourth place is for ALGO, which plummeted by -3.2% in July and its market cap remains at 3.386B. Its price was last seen trading around the 0.9817 neighborhood. The DeFi coin YFI didn’t have a green picture for July to close the ranking in the fifth place, losing -0.3% and now quoting around 35996.51. However, its market cap was practically unchanged, standing at 1.319B as of press time.

Will we see a recovery in such altcoins for August? Everything points toward a continuation of the bullish trend in the top performers in July. Let’s see.

Leave a Reply

Your email address will not be published.

Related Articles
Read More

Binance Coin Overtaking Ethereum's Market Cap

As of April 12, Binance Coin was trading slightly above the $580 mark. This is an all-time high for the currency and a significant milestone in its bullish rally. Cryptocurrencies have been on a bullish trend for the first quarter of 2021. Since the beginning...
Read More

Top 5 Low Market Cap Cryptos To Watch

This ensures that their crypto portfolio stays safe. Also, most low cap cryptos are extremely volatile above the level obtainable in the industry, because sometimes they are used for pump and dump schemes. Many of these challenges contribute to making people lose interest in low...
Total
0
Share