{"id":532745,"date":"2023-05-14T02:00:39","date_gmt":"2023-05-14T02:00:39","guid":{"rendered":"https:\/\/wncen.com\/?p=532745"},"modified":"2023-05-15T08:46:40","modified_gmt":"2023-05-15T08:46:40","slug":"these-top-5-cryptos-drop","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/these-top-5-cryptos-drop\/","title":{"rendered":"These Top 5 Cryptos Drop As US Debt Ceiling Fears Worsen Market Conditions"},"content":{"rendered":"

Among the top 5 cryptos experiencing major losses, a bigger problem looms overhead that currently affects the markets, despite the improving macro situation indicated by the Consumer Price Index<\/a>.<\/p>\n

Recently, investors have become increasingly concerned about the US debt ceiling, with US Treasury Secretary Janet Yellen setting a deadline<\/a> of June 1st. As a result, the markets continue to fear the worst.<\/p>\n

The crypto market is not exempt from the bearishness being experienced by the markets. According to <\/span>CoinGecko<\/span><\/a>, the total market cap of crypto declined nearly 3% as major cryptocurrencies continue to slip after a month of compounding gains.<\/span><\/p>\n

Related Reading: Dogecoin Limps In A Bearish Market: What Traders Should Watch Out For<\/a><\/div>\n

Top 5 Cryptos Sustaining The Biggest Loss<\/strong><\/h2>\n

PEPE<\/strong><\/p>\n

After an astronomical rise in popularity, the token is now subject to the whims of the crypto market. According to <\/span>market data<\/span><\/a>, PEPE is down 8.7% in the past 24 hours as investors, both big and small, <\/span>reduce<\/span><\/a> their holdings.<\/span><\/p>\n

At the time of writing, the bulls are trying to recover $0.00000138 support. However, if the market continues its general decline PEPE will be dragged to lower lows. For now, investors and traders should monitor the market sentiment closely to make better decisions.\u00a0<\/span><\/p>\n

HT<\/strong><\/p>\n

The Justin Sun-owned exchange, Huobi\u2019s governance token HT is under the influence of its controversial owner. After coming under fire from <\/span>CZ<\/span> and the <\/span>Office <\/span>of Foreign Assets Control <\/span>due to various reasons, HT\u2019s price <\/span>tanked<\/span><\/a> by 12% since last week.\u00a0<\/span><\/p>\n

The token\u2019s current momentum puts it on a path toward lower lows. After a bearish breakthrough on $3.55, HT has little to no support to stop the bleeding. Investors and traders could short the token for some gains in the short to medium term.\u00a0<\/span><\/p>\n

TON<\/strong><\/p>\n

First <\/span>launched<\/span><\/a> by Telegram back in 2018, TON has come a long way as developers continue to <\/span>add<\/span><\/a> more functionality. Despite this, the token itself continues to plummet alongside the broader market. <\/span>CoinGecko<\/span><\/a> data shows that TON is down by a whopping 11% in the weekly timescale, becoming one of the biggest losers in the market.\u00a0<\/span><\/p>\n

\n

Unlock the power of #TON<\/a><\/p>\n

\ud83c\udf89We’re thrilled to announce the launch of our new token #bridge<\/a> – the first unlimited bridge that enables seamless transfer of ERC-20 tokens to TON’s Jetton\ud83d\udc8e (fungible token standard of TON)!<\/p>\n

Get started at https:\/\/t.co\/OzhNq4df3e<\/a> \ud83d\udc99<\/p>\n

[1\/3] pic.twitter.com\/psux1C871z<\/a><\/p>\n

\u2014 TON \ud83d\udc8e (@ton_blockchain) April 17, 2023<\/a><\/p><\/blockquote>\n

As of writing, the bulls are trying to flip the $1.88 resistance to support. However, investors should still be cautious in the short to medium term despite the recent market pullback.\u00a0<\/span><\/p>\n

CFX<\/strong><\/p>\n

The governance token of Conflux has seen ebbs and troughs as Conflux itself grew throughout the years. With on-chain development being <\/span>strong<\/span><\/a> in the ecosystem, the only thing holding back CFX is the bearishness in the market. According to <\/span>CoinGecko<\/span><\/a>, CFX is down by 18% since last week.\u00a0<\/span><\/p>\n

\n

Introducing RIME Protocol – powering interest-free loans with minimal collateral on the Conflux Network. Our official website is now live! Visit us at https:\/\/t.co\/yxWajr5nOx<\/a> to learn more. #RIME<\/a> #DeFi<\/a> #ConfluxNetwork<\/a> @Conflux_Network<\/a> @SwappiDEX<\/a> @Nodereal_io<\/a> @PythNetwork<\/a> pic.twitter.com\/iCnCNoo0Dt<\/a><\/p>\n

\u2014 RIME Finance (@_Rimefi) May 12, 2023<\/a><\/p><\/blockquote>\n

The bulls are currently targeting the $0.312 resistance to support a bigger push upward. However, the token\u2019s strong correlation with Bitcoin might also help the bears in the long run. If the macro situation doesn\u2019t improve, CFX will experience more pain in the future.\u00a0<\/span><\/p>\n

<\/p>\n

Crypto total market cap at $1.10 trillion on the daily chart at TradingView.com<\/a><\/pre>\n
Related Reading: Render (RNDR) Poised To Weather Market Storm With Solid AI Prospects<\/a><\/div>\n
\n
Project X is near.<\/p>\n
That\u2019s it. That\u2019s the tweet.<\/p>\n
\u2014 Injective \ud83e\udd77 (@Injective_) May 10, 2023<\/a><\/p><\/blockquote>\n
INJ<\/strong><\/p>\n
Despite Injective trying to <\/span>generate<\/span><\/a> some hype surrounding its mysterious Project X, INJ wasn\u2019t exempted from today’s list of top 5 cryptos on the decline. The latest market data <\/span>reveals<\/span><\/a> that the token is down by a whopping 21% since last week, showing investors weakness as it became one of the biggest losers this week.\u00a0<\/span><\/p>\n
The bears are on their way to flipping $5.56 to resistance in the short to medium term. If they\u2019re successful, investors and traders will experience more pain during this time period. <\/span>Defending this support level will be crucial in the coming days as the macro situation continues to spread fear in the markets.<\/p>\n
-Featured image from Outlook Money<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Among the top 5 cryptos experiencing major losses, a bigger problem looms overhead that currently affects the markets, despite the improving macro situation indicated by the Consumer Price Index. Recently, investors have become increasingly concerned about the US debt ceiling, with US Treasury Secretary Janet Yellen setting a deadline of June 1st. As a result, the markets continue to fear the worst. The crypto market is not exempt from the bearishness being experienced by the markets. According to CoinGecko, the total market cap of crypto declined nearly 3% as major cryptocurrencies continue to slip after a month of compounding gains. Related Reading: Dogecoin Limps In A Bearish Market: What Traders Should Watch Out For Top 5 Cryptos Sustaining The Biggest Loss PEPE After an astronomical rise in popularity, the token is now subject to the whims of the crypto market. According to market data, PEPE is down 8.7% in the past 24 hours as investors, both big and small, reduce their holdings. At the time of writing, the bulls are trying to recover $0.00000138 support. However, if the market continues its general decline PEPE will be dragged to lower lows. For now, investors and traders should monitor the market sentiment closely to make better decisions.\u00a0 HT The Justin Sun-owned exchange, Huobi\u2019s governance token HT is under the influence of its controversial owner. After coming under fire from CZ and the Office of Foreign Assets Control due to various reasons, HT\u2019s price tanked by 12% since last week.\u00a0 The token\u2019s current momentum puts it on a path toward lower lows. After a bearish breakthrough on $3.55, HT has little to no support to stop the bleeding. Investors and traders could short the token for some gains in the short to medium term.\u00a0 TON First launched by Telegram back in 2018, TON has come a long way as developers continue to add more functionality. Despite this, the token itself continues to plummet alongside the broader market. CoinGecko data shows that TON is down by a whopping 11% in the weekly timescale, becoming one of the biggest losers in the market.\u00a0 Unlock the power of #TON \ud83c\udf89We’re thrilled to announce the launch of our new token #bridge – the first unlimited bridge that enables seamless transfer of ERC-20 tokens to TON’s Jetton\ud83d\udc8e (fungible token standard of TON)! Get started at https:\/\/t.co\/OzhNq4df3e \ud83d\udc99 [1\/3] pic.twitter.com\/psux1C871z \u2014 TON \ud83d\udc8e (@ton_blockchain) April 17, 2023 As of writing, the bulls are trying to flip the $1.88 resistance to support. However, investors should still be cautious in the short to medium term despite the recent market pullback.\u00a0 CFX The governance token of Conflux has seen ebbs and troughs as Conflux itself grew throughout the years. With on-chain development being strong in the ecosystem, the only thing holding back CFX is the bearishness in the market. According to CoinGecko, CFX is down by 18% since last week.\u00a0 Introducing RIME Protocol – powering interest-free loans with minimal collateral on the Conflux Network. Our official website is now live! Visit us at https:\/\/t.co\/yxWajr5nOx to learn more. #RIME #DeFi #ConfluxNetwork @Conflux_Network @SwappiDEX @Nodereal_io @PythNetwork pic.twitter.com\/iCnCNoo0Dt \u2014 RIME Finance (@_Rimefi) May 12, 2023 The bulls are currently targeting the $0.312 resistance to support a bigger push upward. However, the token\u2019s strong correlation with Bitcoin might also help the bears in the long run. If the macro situation doesn\u2019t improve, CFX will experience more pain in the future.\u00a0 Crypto total market cap at $1.10 trillion on the daily chart at TradingView.com Related Reading: Render (RNDR) Poised To Weather Market Storm With Solid AI Prospects Project X is near. That\u2019s it. That\u2019s the tweet. \u2014 Injective \ud83e\udd77 (@Injective_) May 10, 2023 INJ Despite Injective trying to generate some hype surrounding its mysterious Project X, INJ wasn\u2019t exempted from today’s list of top 5 cryptos on the decline. The latest market data reveals that the token is down by a whopping 21% since last week, showing investors weakness as it became one of the biggest losers this week.\u00a0 The bears are on their way to flipping $5.56 to resistance in the short to medium term. If they\u2019re successful, investors and traders will experience more pain during this time period. Defending this support level will be crucial in the coming days as the macro situation continues to spread fear in the markets. -Featured image from Outlook Money<\/p>\n","protected":false},"author":557,"featured_media":532763,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1557,2850,3505,88041,88276],"class_list":["post-532745","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-cryptocurrencies","tag-macroeconomics","tag-price-analysis","tag-top-5","tag-us-debt-ceiling"],"acf":[],"yoast_head":"\nTop 5 Cryptos Drop As US Debt Ceiling Fears Worsen Market Conditions<\/title>\n<meta name=\"description\" content=\"Among the top 5 cryptos experiencing major losses, a bigger problem looms overhead that currently affects the markets, despite the improving macro\" 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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Encila","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wncen.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g","caption":"Christian Encila"},"description":"They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"These Top 5 Cryptos Drop As US Debt Ceiling Fears Worsen Market Conditions","url":"http:\/\/wncen.com\/news\/these-top-5-cryptos-drop\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/these-top-5-cryptos-drop\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/a-63.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/a-63.png?fit=647%2C431"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["cryptocurrencies","macroeconomics","price analysis","top 5","us debt ceiling"],"dateCreated":"2023-05-14T02:00:39Z","datePublished":"2023-05-14T02:00:39Z","dateModified":"2023-05-15T08:46:40Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"These Top 5 Cryptos Drop As US Debt Ceiling Fears Worsen Market Conditions\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/these-top-5-cryptos-drop\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/these-top-5-cryptos-drop\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/a-63.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/a-63.png?fit=647%2C431\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"cryptocurrencies\",\"macroeconomics\",\"price analysis\",\"top 5\",\"us debt ceiling\"],\"dateCreated\":\"2023-05-14T02:00:39Z\",\"datePublished\":\"2023-05-14T02:00:39Z\",\"dateModified\":\"2023-05-15T08:46:40Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/a-63.png?fit=647%2C431","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/532745"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=532745"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/532745\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/532763"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=532745"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=532745"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=532745"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}