The crypto market is showing signs of weakness today, with the global market capitalization slipping to $3.93 trillion, down 1.44% in the past 24 hours.
While Bitcoin and major altcoins remain relatively stable, several well-known projects are taking heavy hits, ranking among the day’s top losers.
1. Sky (SKY)
Sky leads the pack of biggest losers, dropping 7.03% in the past 24 hours to trade at $0.06242. Over the last seven days, the token has lost 19.16%, erasing a significant portion of recent gains. Despite maintaining a market cap of $1.32 billion, its low daily trading volume of just $4 million reflects declining interest from traders.
2. Pump.fun (PUMP)
The meme-fueled project Pump.fun has been hit hard, falling 6.40% in the past 24 hours and an even steeper 21.27% on the week. Currently priced at $0.002924, Pump.fun maintains a market cap of just over $1.03 billion, supported by a much higher daily trading activity of $224 million. Still, momentum seems to be fading quickly for the token.
3. Lido DAO (LDO)
The leading liquid staking protocol token, Lido DAO, is also under pressure, down 6.21% in the last day to $1.42. Its seven-day performance remains slightly positive at +3.27%, but today’s drop highlights ongoing volatility. With a market cap of $1.27 billion and nearly $196 million in daily trading volume, LDO remains a key DeFi token, though sentiment has turned bearish in the short term.
4. Ethena (ENA)
Ethena, one of the newer entrants making waves in the DeFi space, saw its price slip 6.08% today, landing at $0.6918. The token has lost almost 4% this week as well, despite boasting a robust market cap of $4.58 billion and high daily trading volume of $788 million. The sell-off suggests investors are taking profits after recent rallies.
5. Pudgy Penguins (PENGU)
Rounding out the list, Pudgy Penguins, the popular NFT-linked token, is down 5.85% in the last 24 hours, trading at $0.03391. Interestingly, its seven-day chart shows a slight gain of 1.15%, indicating that today’s dip may be a short-term correction. With a market cap of $2.13 billion and over $503 million in daily trading activity, Pudgy Penguins continues to attract significant attention despite the downturn.
Market Outlook
The overall market retracement highlights a cautious atmosphere among investors as volatility returns. With total market capitalization slipping below $4 trillion, traders are closely watching whether support levels hold or if a deeper correction may follow.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/top-5-biggest-crypto-losers-today-as-market-cap-slips-below-4-trillion/