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These Are The Ten Worst Performing Cryptocurrencies In August

The first half of 2021 has been a breakthrough year for the crypto market. Now, the crypto industry is carrying forward the same performance in the se...

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This story originally appeared on ValueWalk

The first half of 2021 has been a breakthrough year for the crypto market. Now, the crypto industry is carrying forward the same performance in the second half as well. The market performed well in July, as well as in August, and there were a few coins that touched their all-time high in August. As always, there were a few coins that rewarded investors with massive returns and there were also those that provided negative or negligible returns last month. Let’s take a look at the ten worst performing cryptocurrencies in August.

pattymalajak / Pixabay - Valuewalk

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Ten Worst Performing Cryptocurrencies In August

We have referred to the return data from coinmarketcap.com to rank the ten worst performing cryptocurrencies in August. We have considered only the top 100 cryptocurrencies on the basis of the market cap. These are the ten worst performing cryptocurrencies in August:

  1. Stacks (STX, 5%)

Formerly known as Blockstack, it was rebranded to Stacks in Q4 2020. Stacks aims to bring smart contracts and decentralized applications (DApps) to Bitcoin. Stacks is trading over $1.50, and has a market cap of more than $1,845 million. It is up more than 250% YTD. Stacks has an all-time high of $2.82 (April 2021) and an all-time low of $0.04501 (March 2020).

  1. Celsius (CEL, 4%)

Launched in 2018, it is a one-stop banking and financial services platform for cryptocurrency users. It allows users to deposit cryptocurrencies, as well as offer services such as loans and wallet-style payments. Celsius is trading over $5.90, and has a market cap of more than $1,395 million. It is up more than 6% YTD. Celsius has an all-time high of $8.02 (June 2021) and an all-time low of $0.02235 (October 2018).

  1. Tether (USDT, 0.01%)

Launched in 2014, it is a stablecoin that mirrors the price of the U.S. dollar. Its objective is to combine the usefulness of cryptocurrencies with the stable value of the U.S. dollar. Tether is trading at $1, and has a market cap of more than $65,786 million. Tether has an all-time high of $1.21 (May 2017) and an all-time low of $0.0001018 (June 2021).

  1. Binance USD (BUSD, -0.02%)

Launched in 2019, it is a 1:1 USD-backed stable coin. It is issued by Binance and is approved and regulated by the NYDFS (New York State Department of Financial Services). Binance USD is trading at $1, and has a market cap of more than $12,542 million. Binance USD has an all-time high of $6.29 (June 2021) and an all-time low of $0.8861 (March 2020).

  1. Dai (DAI, -0.03%)

Launched in 2019, it is an Ethereum-based stablecoin, whose value is soft-pegged to the U.S. dollar and is collateralized by a mix of other cryptocurrencies. Dai is trading at $1, and has a market cap of more than $6,175 million. It is down almost 1% YTD. Dai has an all-time high of $1.14 (September 2020) and an all-time low of $0.8935 (June 2021).

  1. USD Coin (USDC, -0.04%)

Launched in 2018, it is a stablecoin that is pegged to the U.S. dollar on a 1:1 basis. Transparency is what makes this coin different from others. Users get assurance that they can easily withdraw 1 USDC for $1. USD Coin is trading at $1, and has a market cap of more than $27,406 million. It is up almost 1% YTD. USD Coin has an all-time high of $1.11 (October 2018) and an all-time low of $0.9292 (March 2020).

  1. TrueUSD (TUSD, -0.04%)

Launched in 2018, it is a U.S. dollar stablecoin that is pegged to USD at 1:1. Like any other stablecoin, this coin also aims to balance stability and utility. TrueUSD is trading at $1, and has a market cap of more than $1,380 million. It is down almost 1% YTD. TrueUSD has an all-time high of $1.36 (May 2018) and an all-time low of $0.9179 (March 2020).

  1. TerraUSD (UST, -0.07%)

Launched in 2020, it is a decentralized and algorithmic stablecoin of the Terra blockchain that is value-pegged to the U.S. Dollar. TerraUSD is trading at $1, and has a market cap of more than $2,426 million. It is down almost 1% YTD. TerraUSD has an all-time high of $1.05 (Jan 2021) and an all-time low of $0.7929 (December 2020).

  1. UNUS SED LEO (LEO, -2%)

Launched in 2019, it is a utility token that is usable on the iFinex ecosystem. It basically allows users to save money on trading fees. UNUS SED LEO is presently trading over $2.90, and has a market cap of more than $2,807 million. It is up more than 116% YTD. UNUS SED LEO has an all-time high of $3.92 (May 2021) and an all-time low of $0.8036 (December 2019).

  1. Amp (AMP, -6%)

Amp is a new digital collateral token that offers instant, verifiable assurances for any kind of value transfer. It supports a wide variety of use cases for collateralization. Amp is presently trading over $0.057, and has a market cap of more than $2,473 million. It is up more than 780% YTD. Amp has an all-time high of $0.1211 (June 2021) and an all-time low of $0.0007946 (Nov 2020).