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    Biggest Losers of the Week: TerraUSD, Waves, Convex Finance, Fantom, THORChain

    By Ammar Mukhtar

    May 17,2022

    9:22 AM UTC

    Because of the great crypto crash, there is no shortage of losers in the market. Everyone is attempting to save what they are able to. But some losers are bigger than other losers. Here is a list of the biggest losers of the week:

    TerraUSD:

    The bigger they are, the harder they fall. This is the aphorism used when the most prideful or the most secure lose their footing. TerraUSD was a stable coin which was the reason behind the collapse of the market. Ideally, the stable coins are pegged to $1. But the current value of TerraUsd is $0.1281 with a loss of 85.83% over the past week.

    Waves:

    Waves is the second biggest loser of the week, although it has been trying to gain its footing over the past twenty-four hours. This ecosystem works on the Proof-of-Stake algorithm to reduce the carbon footprint.  The current value of the coin is $6.69. But this is expected to grow as the market recovers.

    Convex Finance:

    Another stablecoin cryptocurrency has been able to profit because of the loss from Luna. It relies on its vast liquidity by the Curve. The CRV holders are benefitted from interest because of their investment in Curve. But due to its similar model to LUNA, the CVX suffered a loss of 43.73% over the past week with its current value of $11.42.

    Fantom:

    Fantom was already in muddy waters that employed a new scheme of business through its NFT endeavors. But it relied on its stocks getting better. Unfortunately for them, they suffered a loss of 37.45% over the past week. At the time of writing, its value is $7.16.

    THORChain:

    The chain built on the name of the Nose god of thunder, they are attempting to make such a liquidity pool where the exchange of currencies is possible. Other than currencies, they are also vying for exchange of certain assets. RUNe has a large market cap but it still suffered heavily in the market with a loss of about 32.46% with its current value at $3.42.

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