Will Gala (GALA) & THORChain (RUNE) Top the Week’s Losers List?

• 1 THORChain (RUNE) lost over 17% of its trading value in the past 7 days. 
• 2 When writing, Gala Coin was trading at $0.01313 with an intraday decline of 2.54%. 
• 3 The entire crypto market volume over the last 24 hours is $25.42 Billion, resulting in a decline of 0.30%.

Crypto market has shown many major developments in the past few years and over thousands of new tokens were registered. After a few years of their registration, many of these tokens are trading profitably above their base price.  

THORChain (RUNE) Token Price Analysis 

In the past 7 days, dozens of tokens declined and the worst performer was THORChain token which lost 17.11% of its trading price, Gala token that declined approximately 15.30% and Apecoin, which lost around 9.30%.  .

No single reason has been identified for this decline, yet. At the time of publishing, THORChain (RUNE) token was trading at $1.64 with an intraday decline of 2.06%. 

Before this decline, RUNE was trading above $2.00 and the decline affected the trading price. The decline in trading price are majorly affected by constant selling pressure. 

The TradingView data states that despite severe decline in a week RUNE/Tether price surged around 6.04% in a month and 66.40% in a quarter. In the 52 weeks time frame, THORChain token peaked at $2.267 and it lowest traded price was $0.777. 

The native utility token of the THORChain platform is RUNE. The token is utilized as the base currency in the THORChain ecosystem. As per numerous market analysts if bulls succeed in overruling bears in the coming session then there are possibilities of further bullishness. 

Gala (GALA) Coin Price Analysis 

When writing, Gala Coin was trading at $0.01313 with an intraday decline of 2.54% and trading volume of $32,323,987. Tradingview data states that GALA lost 14.94% of its trading value in a week and over 45% in a quarter. 

The MACD and signal line both are below the zero line in negative territory and the bears seem to be establishing their lost positions slowly. However, the RSI indicates bearishness and if bears continued dominating, a decline in the trading price is expected.  

After a severe decline over the past few days, Gala price slips below 20, 50, 100 and 200 day EMAs.

Bitcoin (BTC), the world’s most valued cryptocurrency, did not rise above the $28,000 mark early Wednesday. However, other significant altcoins, together with the likes of Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), and Litecoin (LTC), registered losses till the second half of the session.

The entire crypto market volume over the last 24 hours is $25.42 Billion, resulting in a decline of 0.30%. The overall trading volume in Decentralized Finance (DeFi) is $1.97 Billion, 7.75% of the total crypto market 24-hour volume (press time). 

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.