As a seasoned researcher with over a decade of experience in the dynamic world of cryptocurrencies, I can’t help but feel like a rollercoaster ride every time I check the market. Today, Beam, Artificial Superintelligence Alliance, Mantra, and Arweave have taken a tumble, each losing double-digit percentages.
Today’s top losers in the cryptocurrency market include Beam, Artificial Superintelligence Alliance, Mantra, and Arweave, each experiencing losses in the double digits.
Beam
On August 12th, BEAM (BEAM) took the lead among the day’s top decliners, dropping by 13%. According to crypto.news price data, each token was priced at $0.012. The daily trading volume for this token remained approximately $38.9 million. Its market capitalization stood at a significant $650 million.
As a researcher, I’ve noticed that Beam has been experiencing a downturn following its status as the top gainer on August 11. This surge was primarily fueled by heightened interest from ‘whales’, who started amassing the asset. Based on crypto.news reports, this substantial whale activity propelled BEAM into an overbought state.
The recent decline in Beam’s value can be traced back to a market adjustment after its earlier spike, driven largely by whales amassing the cryptocurrency. This excessive buying indicated a potential sell-off as investors sought to cash in on their gains.
Artificial Superintelligence Alliance
As a researcher delving into the realm of artificial intelligence, I recently noted that the Artificial Superintelligence Alliance’s FET tokens saw a decrease of 11%. At the moment of writing this, each token is being traded at approximately $0.8236.
As a researcher, I’ve noticed an intriguing shift in the FET market today. Yesterday’s impressive surge of 12%, propelling it to $0.938, has been completely erased. This unexpected dip has undone all the gains we celebrated yesterday. On a similar note, the AI token has seen a significant drop over the past week, plummeting by 24%. These fluctuations in the crypto market are always fascinating to observe and analyze.
Mantra
At the moment of reporting, the value of Mantra (OM) had decreased by 10.7%, and it was being traded for approximately $095. Its total market capitalization has dropped to around $803 million. Furthermore, on this particular day, Mantra is exhibiting a trading volume of about $28.5 million, making it the 84th largest crypto asset.
The Mantra network is composed of two interconnected blockchains, Manta Pacific and Manta Atlantic, which are specifically designed for the development of confidential applications using zero-knowledge technology.
Arweave
Yesterday, Arweave (AR) experienced a 10% drop in value and is currently being traded at approximately $20. The daily trading volume remained steady around $46.5 million, and the market capitalization remains at a robust $1.3 billion.
Arweave is known for its innovative approach to data storage, utilizing advanced AI-powered blockchain technology.
Lately, Sam Williams, one of the co-founders, unveiled Arweave’s AO Protocol – an advanced computing structure. This system is specifically engineered to facilitate simultaneous computations for proof-of-stake operations. The objective behind this protocol is to cater to the escalating needs of social media and artificial intelligence applications within blockchain technology.
In the last day, a 4% decrease in Bitcoin (BTC), our biggest cryptocurrency by market value, has occurred concurrently with a downturn in altcoins. This drop resulted in approximately $155.25 million worth of liquidations throughout the crypto market.
Based on information from CoinGecko, it appears that the overall cryptocurrency market experienced a decrease of approximately 4.23% within the past day. This has resulted in a total estimated value of around $2.06 trillion.
The current mood in the cryptocurrency market is markedly anxious, fueled by persistent political disputes, international conflicts, and broader economic issues that amplify market fluctuations.
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2024-08-12 12:33