Crypto Watchlist: Biggest Losers This Week (AVAX, MATIC, KCS)

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The integer currency ecosystem has continued to amusement signs of weakness with the combined crypto marketplace capitalization pegged astatine $862.19 cardinal astatine the clip of writing.

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The past week was yet different pugnacious 1 arsenic notable circumstances further dampened the sentiments of investors from stacking up liquidity into the ecosystem.

While MicroStrategy Incorporated and El Salvador bought the Bitcoin (BTC) dip, the bullish motion was not capable to wade disconnected the impacts of the liquidation of Three Arrows Capital (3AC) arsenic ordered by a British Virgin Island (BVI) court.

With astir coins trading successful the negative, present is simply a look into the 3 coins with the biggest play losses.

Avalanche (AVAX)

Avalanche is simply a furniture 1 blockchain that functions arsenic a level for decentralized applications and customized blockchain networks. It is regarded arsenic 1 of the fastest blockchain protocols arsenic measured by clip to finality. 

Despite the dip, the Avalanche ecosystem has continued to enactment vibrant riding connected the $230 cardinal ecosystem money it launched months ago. However, this has not helped the AVAX coin which is presently changing hands astatine $15.94, down 1.94% successful the past 24 hours and by 23.90% successful the past week. AVAX is 1 of the biggest losers for the week arsenic analysts are advising traders to abbreviated the coin.

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Polygon (MATIC)

Polygon (previously known arsenic the Matic Network) is the archetypal well-structured, easy-to-use level for Ethereum scaling and infrastructure development. Powered by the MATIC token, the protocol’s aboriginal is presently successful uncertainty arsenic The Merge of Ethereum’s Proof-of-Work (PoW) with the caller Proof-of-Stake (PoS) is connected way to beryllium completed precise soon.

The token is trading astatine $0.4551, down 23.44% successful the past 24 hours. The token has mislaid implicit 84% of its terms worth since it recorded its all-time precocious (ATH) of $2.92 backmost successful December past year.

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KuCoin Token (KCS)

KCS is the autochthonal token of KuCoin, which was launched backmost successful 2017 arsenic a profit-sharing token that allows traders to gully worth from the exchange. At a terms of $8.20 and a 25.33% drop successful the week-to-date period, the KCS coin ranks arsenic the worst loser amongst the apical 100 integer currencies listed connected CoinMarketCap.

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The autumn successful the KCS terms mightiness beryllium attributed to a FUD dispersed successful its assemblage chances are that the trading level volition halt withdrawals arsenic it is besides distressed, a assertion that has been debunked by CEO, Johnny Lyu.

Image source: Shutterstock

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