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Leading crypto asset manager Grayscale Investments spotlights the remarkable performance of Shiba Inu ($SHIB) and $XRP ($XRP) over the past week.
$XRP and Shiba Inu were the two best-performing cryptocurrencies on Grayscale’s weekly snapshot, which highlights the top 10 cryptocurrencies based on their returns in the past week between July 7 and July 17, 2024.
📸 Grayscale Crypto Snapshot – Assets
Our weekly snapshot of the top 10 #crypto assets by 1 week returns.
–$XRP $SHIB $DOGE $ADA $BTC $SOL $ETH $BNB $TRX $TON pic.twitter.com/lWOM7gWbFX
— Grayscale (@Grayscale) July 18, 2024
$XRP Ranks as Best-Performing Crypto
$XRP topped the ranking after leading the crypto rally with a weekly surge of 43.7%. The data accompanying the tweet shows that $XRP’s weekly rally took its year-to-date (YTD) returns to 2.8% while its market cap stood at $34 billion.
$XRP’s tremendous rally came as its community members celebrated the first anniversary of Judge Analisa Torres’ decision, which ultimately declared the coin a non-security.
The celebration elicited several rumors, suggesting that the SEC and Ripple might settle the multi-year legal tussle soon. This optimism caused the price of $XRP to surge tremendously over the past week.
However, $XRP’s weekly gain has declined to 16.97% at press time. The seventh-largest cryptocurrency by market cap is currently trading at $0.5931, reflecting a daily surge of 6.35%.
Shiba Inu Performance in Grayscale Snapshot
Furthermore, the snapshot data showed that Shiba Inu was the second best-performing token, with a weekly gain of 13.6%. Shiba Inu’s gain was fueled by the latest relief rally witnessed across the broader crypto market over the past week. The data also showed that $SHIB boasts a year-to-date gain of 80.2%, with a market cap of $11.3 billion as of July 17.
On July 18, Shiba Inu experienced a significant downturn as hackers dumped over 5.4 trillion $SHIB, which were stolen from WazirX, into the market. As a result, $SHIB’s price dipped nearly 10% in 24 hours at the time. Interestingly, the token has recovered most of its losses, as it currently changes hands at $0.00001789, reflecting a 2.24% daily growth.
Performance of Other Cryptos
Meanwhile, the other crypto assets in the top 10 rankings with substantial weekly positive gains include Dogecoin ($DOGE), Cardano ($ADA), Bitcoin ($BTC), Solana ($SOL), Ethereum ($ETH), Binance Coin ($BNB), and Tron ($TRX).
These assets witnessed a 1-week return of 13.3%, 12.4%, 11.2%, 9.7%, 9.5%, 8.6%, and 1.7%, respectively. However, Toncoin ($TON) was the only asset that made it to the list with a negative weekly return of -1.7%.