Saturday, March 2, 2024

Major cryptos slide, Polygon drops out of top 20

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The crypto market as a whole is bearish, with most top 100 coins in the red at the time of writing. 

Top cryptos

Solana slid more than 6%, Cardano was down 5%, and Ethereum fell more than 4% on the last day. Bitcoin was trading around $20,200 at the time of writing, down approximately 5% over the last 24 hours.

Cryptos outside the top 10 were mixed. At #11, Polkadot dropped around 9%, reversing recent gains. Avalanche is also down 9%. Polygon shed 9% in a long-running losing streak and dropped out of the top 20.   

On the other hand, UNUS SED LEO and Shiba Inu were up 6% resp. 5%. Despite the crypto winter, the market has been looking up for SHIB. Recently, the first Miami Presbyterian Church even started accepting donations in the coin. 

Top movers

Outside the top 20, most coins lost 4-9% of their value. Notable standouts include ApeCoin, down 13% and rapidly reversing recent gains, and Arweave, which lost 12%. 

There are some gainers, albeit few. These include IOST with +3%. It describes itself as an “ultra-fast,” fully-fledged, and decentralized blockchain network and ecosystem with its own nodes and wallets.

It is based on the “next-generation” consensus protocol called “proof-of-believability.” Symbol has started an upward trajectory again, although not a very impressive one, adding less than 2% to its value. Synthetix, which rallied recently, is up 6%. 

Waves is the biggest winner with +23%, arguably thanks to a stellar performance at the important global event NFT NYC. 


The biggest trenders today are Terra Classic (formerly LUNA), Celsius, and Bitcoin. Both Terra and Celsius are down, a full 28% in Celsius’ case. Efforts to save the tokens are evidently not going well.  


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