Crypto market’s weekly winners and losers – LDO, ENS, WIF, NOT

Pendle, Lido DAO, and Ethereum Name Service were the biggest winners of the past week.
zkSync, dogwifhat, and Notcoin were the biggest losers of the week.

In summary, Ethereum Name Service (ENS) was the third-biggest gainer of the week with a 7.7% gain despite its price dropping to around $25. This performance made it the third-biggest gainer according to CoinMarketCap data. On the other hand, zkSync [ZK] emerged as the highest loser, experiencing a significant decline of over 37%, and Dogwifhat [WIF] and Notcoin [NOT] were the second- and third-biggest losers respectively, with declines of over 28% and 25% respectively. It is important to note that the cryptocurrency market is volatile, and prices can shift rapidly. Therefore, conducting your own research before making any investment decisions is advisable.

In a tumultuous crypto market week, PENDLE stood out as the frontrunner, causing it to experience a shift in favorable conditions.

During its initial rollout, zkSync encountered significant difficulties. It was immediately exposed to market pressures, undergoing a rigorous test, or metaphorically speaking, a “baptism by fire.”

Biggest winners

Pendle [PENDLE]

As a researcher analyzing the market performance of PENDLE, I noted an encouraging start to the week with an opening price around $5.6. However, its trajectory wasn’t entirely uninterrupted as it faced some bumps along the way, eventually closing the week near $6.0.

Based on the data from CoinMarketCap, PENDLE experienced a significant increase of 15.48% in value during the last seven days, making it the leading weekly gainers.

As a crypto investor, I observed that the price of Pendle swung between $4.8 and $6.2 throughout the past week according to AMBCrypto’s analysis.

At the current moment, the price was hovering around $6.1 on the charts, representing a slight advance from its previous weekly closing figure.

The company had a market value of approximately $947 million, and there were around $57 million worth of shares traded daily. It’s worth mentioning that the trading volume decreased by 26% over the past 24 hours.

Lido DAO [LDO]

As an analyst, I examined Lido DAO’s [LDO] price action on a daily basis for AMBCrypto. At the beginning of the week, there was a noteworthy 3.81% rise. This uptick boosted LDO’s value from around $2 to $2.15.

On the 17th of June, there was a substantial decrease of over 7%, causing the price to dip down to roughly $1.9. Nevertheless, two subsequent gains of about 10% and 6.5% enabled it to bounce back, lifting its value above $2, reaching approximately $2.3.

The chart revealed that LDO experienced a weekly decrease of 4.9%. Despite this, its price remained above the $2 mark, hovering around $2.1.

In spite of suffering notable setbacks throughout the week, LDO emerged as the second most profitable cryptocurrency based on CoinMarketCap’s figures, with a weekly growth rate of 7.86%.

Crypto market’s weekly winners and losers – LDO, ENS, WIF, NOT

The RSI of Lido DAO has stayed in an uptrend, signaling a bull market, even with its recent drops. At present, its RSI value hovers around the neutral threshold.

This suggests that while Lido DAO is still in a bull trend, the trend is relatively weak.

The current market value of Lido DAO, as per the most recent figures, is around $1.9 billion. However, there has been a decrease in its value over the past 24 hours.

Further, the trading volume for this asset in the previous 24-hour period reached approximately $106 million. This figure experienced a decrease of roughly 24% compared to the preceding period.

Ethereum Name Service [ENS]

The price of Ethereum Name Service (ENS) opened the week at roughly $24.3. It started off on a optimistic note, registering an initial increase. Yet, its progress was hindered by a significant downturn, causing the price to fall to approximately $22.7 the next day.

In spite of this setback, ENS saw notable gains thereafter, reaching approximately $26.8 by June 21st.

As an analyst, I’d rephrase that statement as follows: Although ENS experienced a significant downturn in the latter part of the week, causing its price to dip to roughly $25, it still registered a weekly growth of 7.7%.

According to CoinMarketCap’s data, this asset saw the third-largest price increase among all tracked assets during the past week.

The current market value of Ethereum Name Service (ENS) is roughly $788 million, while its trading volume amounts to about $79 million in recent transactions.

In the past 24 hours, the market capitalization dropped by more than 2%, and the trading volume noticeably decreased by more than 40%.

Biggest losers

zkSync [ZK]

In its initial week on the market, zkSync (ZK) stood out as the biggest loser based on CoinMarketCap’s figures. The data revealed that its price began at approximately $0.27 but underwent significant drops throughout the week.

As a researcher observing the market trends, I was hoping for a more positive response towards the asset in question. However, by the close of the week, its value had disappointingly dipped down to around $0.18.

Based on CoinMarketCap’s statistics, ZK experienced a substantial drop of more than 37% by the end of the week.

Based on the most recent figures, the company’s market value was around $673 million as of now, representing a growth of more than 2% within the past day.

Its trading volume was around $181 million, which had decreased by over 38% in the last 24 hours.

Dogwifhat [WIF]

As a crypto investor, I’ve closely examined Dogewhats (WIF) this week and was impressed to find it kicking off the period with a more than 7% surge in value. The coin was priced around $2.6 during my analysis.

Although there was a rise during that period, it represented only a temporary halt in the declining trend that had been ongoing since the previous week.

As a Dogecoin investor, I’ve witnessed an uplift in its value starting from the 16th of June. However, this positive trend didn’t last long as it took successive hits resulting in declines. By the week’s end, the price of Dogecoin had dropped to approximately $1.74.

Based on information from CoinMarketCap, this memcoin ranked as the second largest loss among all cryptocurrencies during the past week, with its value dropping by more than 28%.

Its Relative Strength Index (RSI) indicated that it was entrenched in a strong bear trend.

Crypto market’s weekly winners and losers – LDO, ENS, WIF, NOT

As an analyst, I observed that the Relative Strength Index (RSI) hovered slightly above the 30 threshold, signaling a strong downward trend and hinting that it was on the verge of dipping into the oversold territory.

Based on the most recent figures, the value of the memecoin’s total market worth reached around $1.7 billion.

The trading volume amounted to approximately $240 million during that period, representing a substantial drop of more than 40% in just the past day.

Notcoin [NOT]

Based on the latest figures from CoinMarketCap, I’ve identified Notcoin (NOT) as the third most significantly dropping cryptocurrency during the previous week. A setback of more than 25% was recorded for this digital asset.

According to AMBCrypto’s examination, NOT initiated the week at roughly $0.02 in value but experienced a downward trend since then. Consequently, by the week’s end, the price had fallen to around $0.015.

As of the publication deadline, the company’s market value stood at $1.5 billion, marking a more than 3% growth. However, there was a significant decrease of over 30% in trading activity, with approximately $321 million worth of shares exchanged in the previous day.

Conclusion

In this week’s market summary, I’d like to highlight the top performers and underperformers. Keep in mind that markets are inherently unpredictable, with values frequently fluctuating significantly.

Thus, doing your own research (DYOR) before making any investment decisions is best.

2024-06-23 22:16