Bad start to the week, Bitcoin takes a 4% dive, biggest losers are Pepe, Arbitrum and Maker

The week couldn’t have started worse for the crypto market. Bitcoin has even dropped again, this time by 3.7% and the rest of the market is dragged down with it. The worst performing coins in BLOX today are Maker, Pepe and Arbitrum.

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Bitcoin drops and the rest follows

Bitcoin has dropped by 3.7% and is now worth 51,249.60 euros. That is even 13.75% lower than a week ago. There are currently 19,719,450 BTC in circulation with a market value of 1.04 trillion euros. This means that Bitcoin remains the largest crypto, by far.

But the altcoins are also writing red figures, Maker has had to give up the most.

Maker is a decentralized platform on Ethereum that generates the Dai stablecoin, pegged to the dollar for stability in the crypto space. Users deposit crypto as collateral into a Maker Vault to generate Dai. MKR token holders vote on changes to the protocol. The Maker’s rate has fallen by 9% in 24 hours and is now worth 1934 euros.

Pepe is abandoning us

Arbitrum is a layer 2 solution for the Ethereum network that makes transactions cheaper and faster. It uses optimistic rollups and is compatible with Ethereum dApps.

Security is high due to its connection to Ethereum and it is a decentralized network. The native token is ARB. The value is now 0.59 euros after a drop of 7.08%.

Pepe Coin is a meme coin launched in May 2023 and based on the famous Pepe the Frog meme. The coin is distinguished by its focus on meme culture, improvements over previous meme coins, and its ambition to become a meme coin ecosystem on xDai.

Pepe Coin has a limited supply and a deflation mechanism to increase the value. That deflation mechanism is failing them for a while, because Pepe has fallen againtoday even by 8%.

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