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Red numbers on the crypto market: These altcoins are hit hardest



 If you want to get something good out of the current numbers on the crypto market, then you can at least state that the sideways trend is finally over. But the cops didn't win the race, it's the bears who have the upper hand at the moment. The total market capitalization has fallen below the psychologically important mark of one trillion US dollars for the first time since January 2021. Bitcoin not only has not fought back the 30,000 US dollars, but must prepare not to fall below the 20,000 dollar mark and Ethereum too recorded heavy losses.


At the same time, lending protocols like Celsius are struggling to survive , Ethereum may have to postpone its consensus switch, and TRON stablecoin USDD is in danger of decoupling from the US dollar.


A look at the top and flops of the 50 largest cryptocurrencies reveals: not a single (alt) coin reaches green numbers. The "winners" of the day are the cryptocurrencies with the smallest losses - or stablecoins.


On the contrary, the losers of the day have it all. The following is an overview of the largest of them.


KuCoin (KCS) course: Lost almost a quarter of its value

The native token of the crypto exchange of the same name enables preferential conditions and special rewards in the KuCoin (KCS) ecosystem. In a 24-hour comparison, the altcoin had lost 23.21 percent at the time of going to press.


KuCoin (KCS) is currently trading at $11.15. The altcoin hit its all-time high on December 1 last year at $28.83 – by then it was still over 60 percent.

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Polygon (MATIC) Course: Layer 2 solution with severe losses

Polygon is a Layer 2 solution for Ethereum. The project helps to make applications and dApps on the blockchain faster and cheaper. Ethereum is currently only capable of executing 30 transactions per second, often at high fees. Polygon increases speed to 65,000 transactions per second. BTC-ECHO recently reported that the dApp landscape on Polygon has increased sixfold within half a year .


In the current bear market, however, this does little to help the price of the crypto project. With a loss of 19.7 percent in the last 24 hours, the Polygon (MATIC) price has lost about a fifth of its value.


One MATIC token is currently trading at $0.415. The altcoin hit its all-time high on December 27, 2021 at $2.92.

ApeCoin (APE) price: The descent continues

The third-biggest loser in the altcoin top-50 goes by the name of ApeCoin (APE) and is trading at $3.46 at press time. It has lost 19.6 percent in a 24-hour comparison. In a weekly comparison, it looks much bleaker: 43.4 percent loss. It doesn't get any better on a monthly basis either: minus 59.67 percent. One can speak of a crash instead of a correction. In any case, there is still a (very) long way to go to its all-time high of 26.7 US dollars.

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