The 5 Biggest Losers of Last Week
Crashes bring a lot of suffering and disappointment, but they always mean opportunities. As Warren Buffett always says, be greedy when the others are afraid and be afraid when the others are greedy.
We're introducing the 5 biggest losers of the last week among the top 100 biggest cryptocurrencies by market cap.
5. V.Systems -55.3%
V.Systems offers a solution that re-architects blockchain using Supernode Proof of Stake (SPoS) and a modular structure. The project describes itself as highly scalable with support of Smart contracts. The chief developer of the project, Sunny King, is particularly well known. He implemented the first proof of stake blockchain with Peercoin. He is also considered the creator of Primecoin, a blockchain that does not look for hash values as a proof of work algorithm, but calculates prime number chains that have a scientific value.
The VSYS token has seen strong gains in recent months. The rally peaked on March 4, then went down. During the big crash, the course was pulled down and has more than halved since last Sunday.
4. Algorand -56%
Algorand was able to increase significantly in the days before the crash. Positive news spurred the project, among other things, a new alternative national currency of the Marshal Islands will be based on the Algorand blockchain in the future.
Algorand is a Pure Proof-of-Stake blockchain, which was created by the award-winning Italian mathematician Silvio Micali.
Price increases always attract a lot of short-term investors and weak hands. In a panic situation, these then particularly depress prices.
3. VeChain -56.4%
VeChain focuses primarily on supply chain optimization using blockchain. The project had a lot of hype last year, among other things because BMW has announced that it will use VeChain.
Since mid-February, however, it has been on a downward whirlpool, which culminated in the crash on Thursday. Since then, the value of the token has lost over 70%. Anyone who believes in the project and has not yet invested can start thinking about it.
2. Matic Network -63.6%
Matic Network is a scaling solution on Ethereum and wants to significantly increase the data throughput of the blockchain with sidechains.
This year, Matic saw a strong price increase. On March 7th, this upward trend peaked. Then it went steeply downhill. The crash on Thursday then gave the price its death blow. As of March 7, Matic's price fell by around 67%. A bargain? Who knows?
1. MakerDAO -64%
Until before the crash, MakerDAO was the most promising decentralized stablecoin project. Cryptocurrencies are blocked in smart contracts to ensure that the stablecoins issued are always worth one US dollar. However, coupling mechanisms were broken in the crash and a loss of $4 million was caused. Since then, trust in the project has suffered greatly. With MKR tokens created out of nothing, you want to plug this hole, which of course harms the holders.
The project is now on the brink, but it is quite possible that this last buffer mechanism will get the MakerDAO back on its feet. Anyone who believes in this and in the future of decentralized stablecoins can now think about an investment.
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