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This week delivered a solid performance for the crypto economy, with several coins posting impressive double-digit gains over the past seven days. Leading the charge was sun token (SUN), which skyrocketed by 187%, claiming the top spot among the week’s best performers. However, it wasn’t all sunshine and roses, as Telegram founder and CEO Pavel Durov’s arrest caused TON to plummet by over 21%, making it the biggest loser of the week.
Crypto Rollercoaster: SUN Token Surges 187%, TON Loses 21% Amid Telegram CEO Arrest
Over the course of the week, sun token (SUN) emerged as the crypto economy’s brightest star, with a dazzling 187% increase. SUN serves as a multifunctional governance token that plays a pivotal role in the Sun.io platform, built on the Tron blockchain. Close behind, arkblock (ABT) secured the second spot, climbing 62.07%. Fetch ai token (FET) wasn’t far off, posting a 61.52% gain against the U.S. dollar.
Ocean protocol (OCEAN) rode the wave with a 60.73% increase, while echelon prime (PRIME) soared by 58.48%. Other noteworthy gainers this week included AGIX, SUPER, RENDER, CHR, PEOPLE, and TRB, with gains ranging from 32.46% to 57.09%. But not everyone enjoyed such fortune; the fallout from Pavel Durov’s arrest hit TON hard.
TON took a significant hit, losing 21.39% against the U.S. dollar. Notcoin (NOT), another casualty, dropped 18.46%, making it the second-largest loser of the week. As a token issued on the TON blockchain, NOT’s decline is also tied to Durov’s detention. Apart from TON and NOT, only a few other coins saw losses, including Helium (HNT) with a 9.90% decrease and zcash (ZEC) which dipped by 9.67%. Litecoin (LTC) and convex finance (CVX) also experienced minor losses of 4.15% and 3.56%, respectively.
This week’s crypto market painted a vivid contrast between the top performers and those dragged down by external factors like the Telegram CEO’s arrest. The sharp rise of certain coins, juxtaposed with the steep decline of others, underscores how external events can significantly influence individual assets. These fluctuations highlight the importance of staying informed about the latest developments and their potential market impacts.