Most Big Cryptos Dropped this Week

The cryptocurrency markets are set to end the second week of May on a low note.

The total market capitalization for all cryptocurrencies fell below $400 billion for the first time since April 26 on Friday, and has dropped 15.97 percent week-on-week.

Looking at notable individual cryptocurrencies, bitcoin has depreciated by 12 percent week-on-week and has outperformed its closer rivals.

Names like NEM, stellar and cardano are ranked higher on the list of biggest losers among the top 25 cryptocurrencies by market capitalization.

The only gainers this week are two lesser-known cryptocurrencies: bytecoin and zilliqa.

Bytecoin picked up a bid on Tuesday and rose to a fresh record high of $0.01862, according to CoinMarketCap, seemingly due to cryptocurrency exchange Binance's decision to list the cryptocurrency.

Zilliqa is the latest entrant in the list of cryptocurrencies with a market capitalization of more than $1 billion.

The cryptocurrency clocked a record high of $0.2306 on May 10, according to CoinMarketCap.

The cryptocurrency looks set to clear the 200-day MA support, currently seen at $0.29.

CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.