Cryptocurrency Market Analysis: Top 5 Losers of July 2021

The month of July was not favorable for most of the popular cryptocurrencies in the market. During the month, the total market capitalization and trading volume of cryptocurrencies reached a low of $1.187 billion and $63.409 billion, respectively.

Dogecoin (DOGE, $0.1974) was the worst performer among the top 10 coins over the past 30 days. The price of DOGE, the 8th cryptoasset by market cap, lost about 21.18%. Currently, the market cap is $25.982B (-3.36%) and the 24-hour trading volume is $1.138B, down 2%.

Over the past 30 days, some coins have seen a sharp decline in value. For example, the price Cavapoo (CAVA, $0.000000000124 ) recorded a decline of over 98.92%, CAPITAL X CELL (CXC, $0.09773) fell over 98.06%, RooCoin (ROO, $0.0001042) plunged over 97.06%, Bondly (BONDLY, $0.002856) recorded a decline of 96.79%, and Fundum Capital (FND, $2.49) dove about 94.05%.

Among the top 100 cryptocurrencies, there was a big downward trade in July. CoinIdol, a world blockchain news outlet, explored the market to create a list of the top 5 losers of the month.

Mdex

Mdex (MDX), a cryptocurrency ranked #96, has managed to fall about 33.16% in the last 30 days, making it the worst performer of the month of July.

At press time, the MDX/USD price was $1.13, with a MC of $666,835,437 and volume of $50,756,206.

MDX's 30-day low/high were $1.05 and $1.71, respectively. MDX now needs to gain 88.77% to regain its all-time high (ATH) of $10.06, which it reached about 5 months ago.

Telcoin

Telcoin (TEL) opened the month of July at $35,035.98, with a MC of $629,339,325,298 and ended it at $41,626.20, with a MC of $781,431,379,811. This shows that TEL cryptocurrency has fallen by over 33.10%.

At press time, the TEL /USD price is in the red, standing at about $38,574 (-2.5%), with a market cap of $724,661,347,540 and volume of $25,729,752,306.

XinFin Network

XinFin Network (XDC), a #80 ranked cryptoasset, fell about 29.16% over the last 30 days, making it the third worst performer for the month of July.

At the time of writing, XDC/USD is trading at $0.07679, with a market cap of $943,367,185 (-6.49%) and trading volume of $3,291,471.

XDC's 30-day low/high were $0.06842 and $0.1202 respectively. XinFin Network now needs to gain 47.01% to regain its all-time high of $0.1448, which it recorded on April 15, about 4 months ago.

SHIBA INU

SHIBA INU (SHIB), the 44th cryptocurrency by market capitalization, opened the month of July at $0.00000882 with a value of $3,293,556,320 on MC and closed the month at $0.00000625 with a value of $2,468,650,414 on MC. This shows that SHIBA INU's value has dropped more than 28.59% in the last 30 days.

At press time, the SHIB/USD price is in the red, trading at almost $0.000006253 (-0.17%), with a market cap of $2,464,538,629 and volume of $225,045,670.

Internet Computer

Internet Computer (ICP), the 23rd cryptocurrency by market cap, opened the month of July trading at $49.86, and with a MC of $6,275,641,018 at the time, and closed the month standing at $41.72, with a MC of $5,711,284,073. This means that the cryptocurrency has dropped by more than 22.91%.

At press time, the ICP/USD price is in the red, changing hands at around $38.26 (-4.89%), with a market cap of $5,272,408,388 (-4.77%) and volume of $188,617,853 (-20.74%).

Unfortunately, Internet Computer aka "DOGECOIN KILLER" cryptocurrency, has been on the list of worst performers of the month for a while. It's worth remembering that ICP was ranked among the top 10 cryptocurrencies by market cap earlier this year, but the pace at which it is losing value is troubling.

The cryptocurrency ICP will have to work some magic to return to its previous positive price trend.