Crypto Market Cap Slips Below $4 Trillion as Top Tokens Drop 5.07%–7.03%

The cryptocurrency market continued to face downward pressure on August 24, 2025, as the total market capitalization dipped below $4 trillion, reflecting a renewed sense of caution among investors. While Bitcoin and other major altcoins remained relatively stable, several well-known tokens experienced significant declines, marking them as the day’s top losers.

Sky (SKY) emerged as the worst performer, with a 7.03% drop in the past 24 hours, bringing its price to $0.06242. The token has lost 19.16% over the past week, despite maintaining a market cap of $1.32 billion [1]. The low daily trading volume of only $4 million suggests a waning interest among traders, raising concerns over the token’s long-term viability.

Pump.fun (PUMP) followed closely behind, dropping 6.40% in the last 24 hours. Over the past week, the token has shed 21.27% of its value, trading at $0.002924. Despite a market cap of just over $1.03 billion and a daily trading volume of $224 million, the token is showing signs of losing momentum [1].

Lido DAO (LDO), a leading token in the liquid staking sector, was also down 6.21% to $1.42. While its seven-day performance remains slightly positive at +3.27%, the token’s recent decline highlights the ongoing volatility within the DeFi space. With a market cap of $1.27 billion and $196 million in daily trading volume, LDO remains a key player, but short-term bearish sentiment is evident [1].

Ethena (ENA), a newer token in the DeFi ecosystem, slipped 6.08% to $0.6918, marking its largest single-day drop. The token has also declined nearly 4% over the past week, despite holding a substantial market cap of $4.58 billion and high daily trading activity of $788 million. The sell-off indicates that investors may be locking in profits after recent price gains [1].

Rounding out the list was Pudgy Penguins (PENGU), the NFT-linked token, which fell 5.85% in the last 24 hours. PENGU is now trading at $0.03391, though its seven-day performance shows a slight gain of 1.15%, suggesting today’s move might be a short-term correction. The token holds a market cap of $2.13 billion and a daily trading volume of over $503 million, indicating sustained investor interest [1].

The broader market environment remains fragile, with major players like Bitcoin also showing signs of downward pressure. Analysts have noted that the market is seeing more losers than winners, especially in the meme coin sector, where speculative behavior is increasingly evident [2]. Aave (AAVE) also fell 5.07% on the day, while Maker (MKR) and Pepe coin dropped 4.89% and 4.10%, respectively [3].

The performance of these tokens underscores the ongoing challenge for investors in distinguishing between speculative hype and projects with long-term value. With no clear leadership emerging from top assets, uncertainty persists in an industry highly sensitive to macroeconomic and regulatory shifts. As the market continues to consolidate, the focus remains on whether the current correction is a temporary pullback or a sign of a deeper bearish phase [1].

Source:

[1] Coindoo. https://coindoo.com/top-5-biggest-crypto-losers-today-as-market-cap-slips-below-4-trillion/

[2] Mitrade. https://www.mitrade.com/insights/news/live-news/article-8-1063873-20250823

[3] Facebook · Quicken Support. https://www.facebook.com/groups/749966285118835/posts/24505197272502403/