Cryptocurrency Market Analysis: 5 Biggest Losers of March, 2021

As it is the case with other businesses, the cryptocurrency industry is not exceptional. There are coins that registered massive gains during the month and there are those that never saw the light of the month. CoinIdol, a world blockchain news outlet, analyzed the market to define the 5 worst performers of March, 2021.

As other cryptocurrencies such as Medibloc (MED, has a 1-year gain of +67,914.27%), Theta Fuel (TFUEL, +24,477.04%), Kusama (KSM, +24,383.86%), GNY (GNY, +21699.99%), Voyager Token (VGY, +17,028.27%) and Theta Token (THETA, +16,566.91%), have taken advantage of the Coronavirus pandemic to increase their adoption, other cryptocurrencies such as Curve DAO Token (CRV has a negative 1Y change of about -50.74%), Keep Network (KEEP, -31.87%), My Neighbor Alice (ALICE, -15.08%), Multi-Collateral Dai (DAI, -0.34%), Tether (USDT, -0.02%) have not gained from the magical adoption of coins initiated by the pandemic.

In the entire market, Olyseum (OLY dropped by about -94.29%), RamenSwap (RAMEN lost by almost -93.11%), 3X Short TRX Token (TRXBEAR declined by 92.24%), Synlev (SYN dropped by over -90.38%) and Mushroom (MUSH plunged by about -89.88%), were the biggest losers in the past 30 days.

However, these coins were not the worst performers in the market. Below, there is a list of top five loser cryptos that registered the most massive drops.

NEM

Regardless of its poor performance, NEM (XEM) is still occupying Rank #38 by market capitalisation (MC). NEM was the worst performer of March 2021 among the top 100 virtual currencies, having dropped by 47.25 percent.

At press time, the price of XEM/USD is sitting at $0.377 (0.55%), with a 24h trading volume of over $282.642 mln, a market cap of $3.393 billion and the circulating supply 8,999,999,999 XEM.

The lowest and highest price registered by XEM crypto in the past 30 days was $0.325 (March 25) and $0.832 (March 3) respectively. XEM is currently being traded in numerous exchanges such as Upbit, Binance, OKEx, Huobi Global and CoinTiger.

The NEM digital coin is now targeting to hit again the $2.09 price (it last traded this price on January 4, 2018 - over 3 years ago).

Voyager Token

Voyager Token (VGX) is a mobile-focused brokerage coin, is also a ERC-20 token and cannot be mined like other conventional PoW cryptocurrencies.

Voyager Token is sitting in Rank #92. Though it is showing signs of recovery, VGX managed to drop by about 31.70%. 

Currently, VGX/USD is trading at $4.62 (0.53%), with a MC of $1.027 billion, trading volume of $10.143 million, and circulating supply of 222,295,208 VGX. In the past 30 days, Voyage Token saw a low and a high of $3.87 (March 23) and $6.92 (March 2), respectively.

VGX can be traded on popular exchanges such as HitBTC, ATOMARS, Binance and Uniswap. VGX is hoping to trade at $10, a price it last traded on Jan 5, 2018, but it has to do a lot of work if it wants to achieve this target.

SushiSwap

SushiSwap (SUSHI) is in Rank #58 by market cap. The cryptocurrency which is currently being traded in exchanges such as BitZ, OKEx and CoinTiger, plunged by about 22.25% in the last 30 days.

Presently, SUSHI is changing hands at $14.80 (+0.16%), with a market capitalisation of $1,886,813,103.37 and 24h volume of $449,837,696 (+36.78%). The monthly high and low amounted to $23.38 (March 13) and $14.50 (March 25) respectively.

An increase in trading volume brings back hopes that SUSHI can regain its all-time-high recorded on March 13, 2021.

Fantom

Fantom (FTM), the 84th crypto by MC dropped by almost 17.18 in the month of March. On April 1, it was trading in green at about $0.438 (+2.86%), and had a MC of around $1,114,718,813 with the volume of $106,870,689. 

FTM can be accessed in different exchange platforms such as VCC Exchange, FTX, HitBTC, Binance and others.

The low and high price of Fantom in the last 30 days is $0.320 (March 25) and $0.578 (March 3), respectively.

Synthetix

Synthetix (SNX) has just jumped to Rank #52 to surpass Enjin Coin in terms of crypto market cap. In the past 30 days, Synthetix has plunged by almost 15.01 percent. Its monthly high and low reached $24 (March 4) and $15.8 (March 25) respectively.

At press time, SNX/USD price has gained massively by 9.71% and is at $18.69 - the price is continuing to skyrocket. Synthetix is now targeted to break the $28.77 price cap, the level it last touched on February 14, 2021.

Synthetix is a DeFi protocol which offers on-chain exposure to cryptocurrencies. SNX is traded in exchanges such as BitZ, Binance, OKEx and others.