At the start of the week, Bitcoin surged to a new all-time high, but now that growth has slowed down. The leading cryptocurrency has pulled back, and as usual, altcoins have followed suit. While “digital gold” still shows a positive trend for the week, some alternative currencies have dropped by over 10% and more.
Here’s a rundown of the top five cryptocurrencies that took the biggest hits in price. The rankings are based on the percentage drop over the past seven days (data from open sources).
Notcoin (NOT)
Market Cap: $666M
All-Time High Price: $0.02883
Circulation: 105.5B
Weekly Drop (Oct 25 - Nov 1): -14%
Notcoin is a gaming Web3 project launched on January 1, 2024, within the TON ecosystem as an app inside the Telegram messenger. It caught user attention thanks to a token giveaway announcement.
The developers allowed app users to mine tokens simply by tapping their smartphone screens. In just a few months, the game gained over 35 million users.
Currently, in terms of distribution, NOT is arguably the most successful “tap game” in the crypto space. Over the last week, the token dropped 14% and is now trading around $0.0065.
Arweave (AR)
Market Cap: $1B
All-Time High Price: $76.79
Circulation: 65.6M
Weekly Drop (Oct 25 - Nov 1): -15.5%
Arweave is a project focused on permanent data storage in a structure similar to blockchain called Blockweave. Built on a proof-of-access mechanism, it shares a lot with other decentralized storage platforms but sets itself apart with a commitment to permanent storage using unique crypto-based incentives.
In 2022, AR was considered one of the most promising tokens on the market, partly due to potential integration with services from Meta (the parent company of Facebook and Instagram, labeled extremist and banned in Russia). This was mainly related to storing NFTs.
A fresh wave of growth for AR started in February 2024 when it soared from $8 to $43 in just a month. But after that, it saw a prolonged decline with occasional upticks. Over the past week, the token dropped 15.5% and currently stands at $15.45.
cat in a dogs world (MEW)
Market Cap: $796M
All-Time High Price: $0.015
Circulation: 88.8B
Weekly Drop (Oct 25 - Nov 1): -19%
This token was just in our ranking of the week’s top gainers. But, as with most meme coins, it’s highly volatile. Over the past few days, it lost 19%, shedding $100 million in market cap and currently trading at $0.0088.
As a reminder, cat in a dogs world is a meme coin based on Solana, combining two of the industry’s most popular themes: dogs and cats. Released in April 2024, it even has its own NFT platform, where token holders can vote on the project’s future moves.
To increase interest in MEW and potentially drive up the price, the developers promised to burn 90% of all issued tokens. So far, this tactic has been working, and the coin shows regular growth.
Celestia (TIA)
Market Cap: $1.9B
All-Time High Price: $20.37
Circulation: 1B
Weekly Drop (Oct 25 - Nov 1): -19.5%
The primary purpose of the Celestia project is to relieve Ethereum’s blockchain from handling massive amounts of data, allowing for faster and cheaper token transactions. Technically, the Celestia blockchain is used solely for this purpose.
Unlike other blockchains, it doesn’t run smart contracts or perform computations. Instead, Celestia offloads these functions to rollups or other blockchains, a key component of its flexible modular design.
Rollups, one of the primary scaling technologies for Ethereum, work by bundling numerous transactions into packets and sending them to Ethereum for verification, thereby offloading the network. The token has been on a serious downtrend since August of this year, with a relatively stable period of alternating drops and rises. Over the past week, it lost 19.5% and is now trading at $4.
Immutable (IMX)
Market Cap: $1.96B
All-Time High Price: $8.6
Circulation: 2B
Weekly Drop (Oct 25 - Nov 1): -19.9%
Immutable is an Ethereum scaling solution designed to offer ultra-fast, ultra-cheap fees for NFTs. Its creators aimed to solve the problem of integrating NFTs into blockchain games.
Immutable’s network operates with near-zero gas fees and can process up to 9,000 transactions per second. The project’s token sale on Coinlist began on September 8, 2021, at an initial price of $0.1.
At its peak, IMX reached almost $9, then sharply fell to around $1.2, followed by minor bounces, reaching a local high of nearly $4 in March 2024. Over the past week, the token has dropped almost 20% and currently sits at $1.17.
