As the cryptocurrency market continues to evolve, certain cryptocurrencies may warrant cautionary attention due to various factors such as poor ratings, recent developments, or market volatility. Based on indicators such as price history, ratings from organizations like Weiss Crypto Ratings (WCR), TokenInsight, and Wikirating’s Crypto Rating Index (CRI), here are five cryptocurrencies that investors might consider avoiding trading in the upcoming week, starting from June 19.
Kusama (KSM): Kusama, the pre-production blockchain version of Polkadot (DOT), has consistently received low ratings, including a ‘very weak’ rating from WCR and a ‘CC’ grade from CRI, indicating vulnerability to failure. Kusama’s current price stands at $21.23, with weekly and monthly declines of 17.89% and 16.89%, respectively.
ABBC (ABBC): ABBC remains less desirable compared to many other assets, with an ‘E+’ score from WCR and a ‘B’ rating from CRI and TokenInsight. While ABBC has the capacity to meet its commitments, it is considered more vulnerable in the near term. The price of ABBC is currently $0.15, reflecting a 5.32% drop in the last 24 hours and a 22.56% loss despite a 58.29% gain on the monthly chart.
Mina Protocol (MINA): With an ‘E+’ grade from WCR and a ‘CCC’ rating from CRI, Mina Protocol is currently considered vulnerable and dependent on favorable conditions to remain valuable. MINA is trading at $0.41, showing a 3.58% increase in the last 24 hours, but experiencing declines of 19.52% over the previous week and 28.20% in the last 30 days.
CoinEx (CET): Following CoinEx’s withdrawal from the US market amid a lawsuit, its token, CET, has faced challenges and now holds a ‘D-‘ rating from WCR and a ‘B’ rating from CRI. CoinEx’s current price is $0.03, with a 0.78% gain in the last 24 hours but drops of 5.87% over the past seven days and 9.91% in the previous month.
Filecoin (FIL): After Grayscale withdrew its application to list Filecoin (FIL) as a Trust Investment product, the cryptocurrency has faced depreciation. It currently holds a ‘D-‘ rating from WCR and a ‘B’ rating from CRI. Filecoin is priced at $3.61, indicating a 2.16% gain in the last 24 hours, but with losses of 11.68% over the past week and 18.61% in the last month
