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As of this writing, the crypto market is cruising at a value of $1.42 trillion, with bitcoin ($BTC) holding 49.9% of the overall market cap. This past week saw both bitcoin and ethereum experiencing notably stagnant weeks in terms of their percentage changes, while a number of other digital currencies outshone the top two. Standing out this week were the cryptocurrencies $BONK and $TAO, which soared by 136% and 97.3% respectively.
A Week of Highs and Lows for Cryptocurrencies
This week, the crypto market spotlight shone on $BONK, $TAO, and KAS, which recorded gains ranging from 70% to 136% over a seven-day period. Trailing slightly behind were skale (SKL) and axelar (AXL), climbing 59% and 58%, respectively.
In total, eight crypto assets surged over 40% against the U.S. dollar this week, with 18 achieving increases of 20% or more. Other significant gainers in the seven-day period included FET, SNX, $NEAR, IMX, and $AVAX.
Interestingly, roughly 50 crypto assets experienced upward movements exceeding 4% this past week. However, only 27% of cryptocurrencies exhibited positive trends during trading sessions on Monday.
The week also highlighted some notable declines. ZRX, for instance, plummeted by 29%, while RBL dropped 18.9% over the week. LUNA and FIL weren’t spared either, with weekly losses of 17.15% and 12.64% respectively.
In total, seven cryptocurrencies faced double-digit declines this past week. Other coins experiencing notable downturns included SUI, DFI, TWT, IOTX, SNT, and ATOM. On Monday, 50 digital currencies reported losses of 4% or more from the previous week’s trading sessions.
Apart from USDT, $BTC, and ETH, high trading volumes were seen in coins like SOL, XRP, $AVAX, and LINK, with BNB, DOGE, $NEAR, and MATIC also recording significant volumes. This week, while certain tokens flourished in the market, other markets exhibited a less receptive stance.
What do you think about this week’s market gainers and losers? Share your thoughts and opinions about this subject in the comments section below.