- Despite the current sideways trend in CVX pricing, the token’s price is falling.
- The terrible display by Arweave has been going on for months, not weeks.
January was a rough month for Bitcoin, losing roughly 20% of its value. Many other prominent cryptocurrencies also saw steep declines in value during the last month. The bearish momentum carried to the current month of February. For some investors, a drop of this magnitude may provide an opportunity to take up new holdings. Some, on the other hand, showed just how vulnerable they are. Some, on the other hand, showed just how vulnerable they are. Let us look at the top 3 worst coins of February.
Arweave (AR)
The terrible display by Arweave has been going on for months, not weeks. Solana’s data is saved on Arweave, the token’s value has steadily decreased over the past three months. Despite the token’s slow rise to a $42 level on February 7, the past week hasn’t been all that positive. Prices fell to $33 at the time of writing since it couldn’t hold its gains for very long. AR Weave’s tokens have depreciated by more than 20% to 25% in the previous several weeks.
Convex Finance (CVX)
The price of the CVX token rose from $27.32 on February 8 to as high as $29.91 after the rally that started on February 2. However, the breakout failed to hold, and prices fell to $25.21 when the rally ended on February 11. In a few days, the token has lost roughly 20% of its value. As a result, despite the current sideways trend in CVX pricing, the token’s price is falling since we are at the absolute bottom of that channel.
Waxe (WAXE)
In terms of NFTs, video games, and collectibles, WAXE claims to be the world’s most proven and environmentally friendly blockchain. After a good performance last week, the WAXE token has met with the same demise. The cryptocurrency is now selling for around $331, down 19% from its all-time high on February 2.
Disclaimer: The opinion expressed in this article solely author’s. It does not interpreted as investment advice.
