Just One Cryptocurrency Bucked the Market Downtrend This Week

The broader markets seem to have been dragged lower by a 9.5 percent week-on-week drop in bitcoin, the world's largest cryptocurrency by market cap.

The cryptocurrency markets could remain on the defensive next week too, as the odds are stacked in favor of a drop in bitcoin prices to below $7,000.

Looking more widely, the combined market capitalization of all cryptocurrencies dropped to $322.5 billion on May 24 - the lowest level since April 16, according to CoinMarketCap.

At time of writing, the total market value stands at $336 billion - down 14 percent week-on-week.

All-time high: $0.30.Closing price on May 18: $0.0693.Current market price: $0.070.Rank as per market capitalization: 9.

TRON is reporting moderate gains amid the broader market sell-off, possibly due to growing investor interest in the mainnet launch, scheduled for May 31.

The cryptocurrency may rank high on the list of top losers next week, the technical charts suggest.

All-time high: $12.04.Closing price on May 18: $3.63.Current market price: $2.69.Rank as per market capitalization: 23.

As of writing, the cryptocurrency is trading at $0.0069 on HitBTC. Prices had surged in the first half of May after the cryptocurrency exchange Binance announced its listing on the exchange on May 7.

All-time high: $953.34.Closing price on May 18: $358.81.Current market price: $285.85.Rank as per market capitalization: 21.