Cryptocurrency Market Analysis: 5 Biggest Losers of January 2021

The month of January 2021 has not been fair to some of the popular digital currencies among the top 10 cryptocurrencies on the market. There was a big amount of volatility in most of the cryptocurrencies. The price of the most cryptocurrencies fell following the warning from Janet Yellen, the US Treasury Secretary, about the illicit use of digital currencies including Bitcoin.

Since the huge lows that happened in March last year when most businesses were not operating because of the Coronavirus pandemic, most digital currencies registered tremendous gains, but other coins recorded colossal losses.

None of the 5 biggest losers of January is among the top 10 cryptocurrencies by market cap. The top coins that have performed not so well during January, 2020 include Tether (USDT, $1.00), Bitcoin SV (BSV, $169.42), Litecoin (LTC, $131.15), Dash (DASH, $102.56), EOS (EOS, $2.71), Bitcoin Cash (BCH, $397.80), Binance Coin (BCH, $43.16) and Bitcoin (BTC, $33,734.97), respectively.

CoinIdol, a world blockchain news outlet, has figured out the 5 biggest losers of January 2021 among the top 100 cryptocurrencies in the entire market.

OKB

OKB is ranked number 81 by market cap (MC). For the past 30 days, its price has plummeted by 29.89%. Despite the coin reaching its all-time-high on January 2, standing at $9.5, the general trend of the month was bearish. At press time, the price of OKB on many exchanges including BitAsset, OKEx, Xtheta Global, etc., is standing at about $5.90, with a volume (24h) of about $176,034 million and a market cap of $354 million.

The lowest price level in January was at around $5.2. The end of the month has seen a 9% increase. However, it is unclear whether OKB is going to change the trend and become bullish. Most likely, it will remain range-bound. 

Monero

Monero (XMR) is a privacy coin which has been coloured by financial regulators as a coin mostly used by criminal actors to make illicit transactions on darknet platforms. Monero has plummeted by around 13.75% in the past 30 days.

XMR is a mineable cryptocurrency which at time of writing is trading at $142 on most exchanges including Binance, HBTC, BitZ, etc., and has a volume of $1.29 billion and a market cap of $2.535 bln, which places it in 19th position on the entire Crypto Rating.

Nevertheless, in 2021, forecasts show that there might be a skyrocket in XMR’s price to $160-180, with a retreat to $100-120. The highest price in January was standing at $181 (Jan 11), while the lowest point was at $124 (Jan 22).

Zilliqa

Zilliqa (ZIL) is ranked 52nd by MC. The cryptocurrency managed to drop by about 13.55 percent. The price of ZIL is now at $0.071 on different crypto exchanges such as Huobi Global, Yobit, VCC Exchange, etc., with a 24h-volume of around $139,277 million and MC of $771,328 mln.

The highest level was fixed on January 1 at $0.0848, while the lowest price was fixed at $0.0538 on January 11.

Celsius

Celsius (CEL) is currently in the 37th position by market cap in the global market. CEL performs many internal roles including to boost user’s payouts. In January 2021, CEL lost about 11.67 percent.

At press time, CEL/USD price is at $4.74 on most exchanges including FTX, Sistemkoin, Hoo, BitMart, etc. The volume (24h) of Celsius is at $14.043 mln and market capitalization of $1.129 bln. The highest price of the month was fixed on January 4 ($6.75). The lowest rate of CEL amounted to $3.89 on January 22. The general trend of the coin is currently range-bound. However, it ended January with almost 9% decline after breaking the $5 price level.  

UNUS SED LEO

UNUS SED LEO (LEO) is now ranked 34th. In the past 30-days, LEO dropped by 3.62 percent. Currently, LEO is changing hands at $1.30 on a variety of exchanges including BiKi, ZB.COM, Bitfinex, OKEx and many others. The LEO’s volume is at $17,623 and its MC is $1,304 bln.

The highest price was spotted on January 3 at $1.36. The low of the month amounted to $1.30 on January 30-31. Considering the general bearish trend during the entire month, there is a possibility of further decline.