Crypto's Biggest Laggards in a Bullish Market

Concluding a prosperous week in the crypto market, Bitcoin and Ethereum maintained their support levels, sparking inquiries into potential underperformers. This week, the market has remained within an extreme greed zone, with the fear and greed index reaching 80. Despite the general bullish sentiment, several cryptocurrencies have emerged as the week's top losers, including KuCoin Token (KCS), Bittensor (TAO), Fantom (FTM), Worldcoin (WLD), and Kaspa (KAS).

Crypto's Top Losers Amidst a Bullish Market

March's final week witnessed one of the best performances for the cryptocurrency market this year. Bitcoin's ascent to the $70,000 mark and Ethereum's steady rise around $35,000 have raised questions about the potential losers amidst this bullish tide.

Despite the overall optimism, the crypto market's Fear and Greed Index hovered in the extreme greed zone at 80. Nevertheless, the market capitalization experienced a modest 0.30% increase, reaching $2.66 trillion.

Unveiling the Week's Crypto Losers

According to data from CoinmarketCap, the week concluded with several prominent cryptocurrencies falling into the category of losers. KuCoin, Bittensor, Fantom, Worldcoin, and Kaspa faced significant declines.

KuCoin Token (KCS): Legal Woes Weigh Heavy

KuCoin, a prominent cryptocurrency exchange, has been embroiled in ongoing legal challenges. This has had a detrimental impact on its native token, KCS, which plummeted by 22% this week. The token's price reached a weekly low of $10.68, and its market capitalization declined by 8% to $1,050,558,550. However, trading volume surged by 92% to $7,556,506.

Bittensor (TAO): All-Time High Elusive

Ranked 44th on CoinmarketCap, Bittensor (TAO) suffered a 7% loss, dropping to $487.97 after a 16% decline this week. Its market capitalization stands at $3,178,010,133. Despite earlier attempts to reach its all-time high of $759.61, TAO faced a setback after reaching a high of $730.21. However, the token's trading volume has increased by 213% to $100,444,893, offering hope for a potential recovery.

Fantom (FTM): Losing Momentum

Fantom recently touched a two-year high of $1.1378 before falling to its current value of $0.9508. Its market capitalization has also declined by 3.5% to $2,665,685,438. The trading volume for FTM has dropped to $173,285,308, contributing to its losses.

Worldcoin (WLD): AI Hype Fades

Worldcoin made a strong start to March, setting an all-time high of $11.82. However, it has since fallen by almost 30% to its current value of $8.29. Despite discussions surrounding AI, Worldcoin has struggled to maintain its gains, leading to its inclusion on the week's crypto loser list. However, the crypto is showing signs of recovery, with its market capitalization increasing by 1.06% to $1,369,816,446. Trading volume has also risen by 12% to $327,320,737.

Kaspa (KAS): All-Time High Followed by Downtrend

Kaspa has shown bullish momentum throughout 2024, reaching an all-time high of $0.1894 in February. However, it has since entered a downtrend, dropping by 28% to its current price of $0.1353. Its market capitalization has also declined by 1.22% to $3,134,568,146. Despite these losses, Kaspa's trading volume has increased by 15% to $57,287,261.

Conclusion: Contrasts in the Crypto Market

While March has seen several cryptocurrencies reaching all-time highs, others have struggled to maintain their gains. The week's top crypto losers, including KuCoin's native token, highlight the volatility and complexities of the crypto market. Nonetheless, the overall bullish sentiment remains, suggesting that the crypto space is poised for further growth and innovation in the months ahead.