Decentralized finance (DeFi) tokens are trying to catch up with the positive turnaround seen across the crypto board in the second half of this week. However, Synthetix, Compound, and Litecoin have failed to benefit from the renewed buying wave, emerging as the main laggards among the top 50 widely traded digital assets.
Synthetix (SNX) eroded 17% on a weekly basis. Compound (COMP) and Litecoin (LTC) lost over 13% and 12% respectively of their value.
Synthetix: Saturday's spinning top awaits confirmation
Synthetix (SNX/USD) is the worst performers from the top 50 dominantly traded cryptocurrencies this week, having lost 17% of its value.
The No. 43 coin has returned to the red zone following a temporary reversal seen on Saturday. The price currently trades in a narrow range around $4.20, awaiting fresh trading impetus.
Compound: Poised for additional downside
Compound (COMP/USD) is looking to build on Saturday’s recovery from near two-week lows of $112.01.
Despite the bounce, the path of least resistance appears to the downside amid a bearish technical set up on the four-hour chart.
The No. 44 coin remains on track to incur a 13% weekly loss, last seen trading at $107.60.
Litecoin: Bulls insist but upside appears limited
Litecoin (LTC/USD) seems to have found some weekend love, extending its recovery mode into the second straight day.
The bulls take cues from the upbeat sentiment seen across the crypto space, still loses 12% on a weekly basis.
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