The crypto market has been responding in a positive manner in the past few weeks. Despite the impressive surge of Bitcoin, Ethereum, Gala, Conflux, Pepe and THORChain and others, there are still some in the market that struggled and fell below the 20 days EMA.
Mina (MINA) topped the list of weekly losers followed by Stacks (STX) and Maker (MKR).
Mina (MINA) Price Analysis
When writing, MINA was trading at $0.6229 with an intraday trading volume of $57,336,565. It is important to note that its trading volume declined 29.30% compared to a day earlier.
On October 24 2023, MINA prices showed a mind blowing surge of over 60%. The surge was followed by the sudden increase in trading volume. Moreover, the data related to MINA price shows a decline on Coinmarketcap but same token price rose over 30% in a week. MINA network seems to be experiencing a huge transaction volume which resulted in the heavy congestion.
Stacks (STX) Price Analysis
Stacks (STX) lost 11.28% of its trading price over the last 7 days when it was trading at $0.6358 with an intraday trading volume of $39,020,729. Coinmarketcap data shows a decline of 36%.
Moreover, at the time of publication, STX was trading above 20, 50, 100 and 200 days EMAs. The MACD and signal line are in the bullish region but moving slanting to the zero line reflecting no changes in the trading volume.
Stacks (STX) also lost 20.95% in half yearly time frame but despite weekly and half yearly STX price surged over 204% in year-to-date time frame.
Maker (MKR) Token Price Analysis
In the list of weekly losers, Maker (MKR) holds third position as it lost 10.25% of its trading price. When writing, MKR was trading at $1,393.58 with an intraday trading volume of $55,584,007.
Maker token lost 9.13% of its trading price in a month. While writing, MACD and signal line are suggesting further decline in the coming days. The histogram is showing red bars below the zero line.
In the 52 weeks time frame, MKR token price peaked at $1651 and its lowest trading price was $502. The lowest trading price in the monthly time frame is $1,330.68.
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/10/31/mina-stx-mkr-became-top-three-weekly-loser-of-crypto/