- Nervos Network, Popcat, and Bittsensor had the biggest gains in the past week.
- Helium, Starknet, and SATS were the biggest losers last week.
As a seasoned analyst with years of experience navigating the tumultuous seas of the cryptocurrency market, I find myself intrigued by this week’s performances. Nervos Network, Popcat, and Bittsensor have shown remarkable resilience, while Helium, Starknet, and SATS have experienced a less fortunate turn of events.
Following a captivating development, Popcat emerged as one of the most successful cryptocurrencies, whereas Helium found itself in the group of losers. The previous week proved intriguing as various other digital currencies displayed optimistic reactions after Bitcoin surpassed a significant threshold.
Biggest winners
Nervos Network [CKB]
This week, Nervos Network’s CKB coin saw the largest growth among all cryptocurrencies, jumping over 97%. Initially, CKB began the week trading at approximately $0.008, but its pace picked up significantly on September 13th, pushing its price to around $0.013. (According to data from CoinMarketCap)
By the end of the week, it was trading at approximately $0.014.
Currently, the value of CKB is on an uptick and currently sits around $0.017. This growth has also boosted its total market capitalization by 19%, raising it to roughly $754 million.
Initially, the value of the token was approximately $330 million, but in just the past day, it has fallen more than 60%. This decrease suggests a short-term decrease in trading following the substantial price surge, which may be a sign of reduced enthusiasm or a pause for breath.
Popcat [POPCAT]
Popcat [POPCAT] analysis on the daily price chart revealed a stronger start to the week than Nervos Network.
The chart indicated that POPCAT surged by over 9% at the beginning of the week, trading at around $0.53. It continued with consecutive uptrends, reaching approximately $0.6 by the third day.
Significantly, it surpassed its quickly moving resistance line (depicted in yellow), which previously played a role as resistance, but now functions as a support level approximately within the $0.6 price range.
By the end of the week, POPCAT was trading at approximately $0.72, despite a slight decline of over 1%.
As reported by CoinMarketCap, Popcat experienced one of the largest weekly price surges, amounting to approximately 42% growth. Currently, its total market value is estimated to be roughly $728 million.
On the other hand, similar to CKB, POPCAT‘s trading volume has noticeably dropped. At present, it stands around $65 million, indicating a substantial decrease of over 40%.
Bittsensor [TAO]
Among all the cryptocurrencies I’ve invested in that have a market cap above $1 billion, it was Bittensor [TAO] that stood out as the one with the most significant gains.
According to information from CoinMarketCap, TAO experienced a significant surge of close to 40% over the last seven days. Examining its price trajectory, we can see that it began the week around $240 and ended at approximately $322. At present, its price has climbed slightly higher to $326.
As a researcher, I’ve noticed an interesting development in the market capitalization of TAO. Currently, it stands at a significant $2.4 billion, marking a 3% upward shift over the past 24 hours. However, it’s worth noting that the trading volume has seen a substantial drop of more than 20%. At the moment, the trading volume is approximately $64 million. This could potentially indicate a shift in investor interest or market dynamics.
Biggest losers
Helium [HNT]
Following my previous week’s success where Helium [HNT] was among the top performers, it appears that I am currently experiencing a shift as this cryptocurrency now heads the list of the week’s largest declines.
Data from CoinMarketCap showed that HNT experienced an over 10% decline in the past week. A detailed analysis of its price on the daily chart indicated a clear downward trend throughout the week.
HNT began the week trading around $8.1 but had fallen to approximately $7.2 by the end of the week.
Over the course of the week, Helium Network Token (HNT) suffered a drop exceeding 6%, which added to its total losses. However, even with this decrease, the short-term average (represented by the yellow line) provided robust support, fluctuating between $6.7 and $6.4.
Moreover, HNT’s RSI value has dipped slightly below the neutral point, suggesting a potential move towards a downward trend, or in simpler terms, a possible increase in selling pressure over buying pressure.
Currently, the market value of HNT stands at roughly $1.1 billion, indicating a drop of almost 6%. Contrarily, the trading volume for HNT has surged more than 30% to about $21.2 million.
Starknet [STRK]
As a crypto investor, I started the week with Starknet [STRK] trading at roughly $0.43. However, as the days passed, the value of this cryptocurrency noticeably dipped, ending the week around $0.40. This substantial decrease in price was hard to ignore.
Based on information from CoinMarketCap, it’s been reported that STRK experienced one of the most significant weekly declines, dropping by more than 7.6% during the specified period.
Besides experiencing a decline in its price, STRK‘s trading activity has dropped more than 30% within the past day, resulting in approximately $40.6 million in total traded value.
In spite of the recent drops, the current market value of Starknet stands around $717 million, according to the latest figures.
SATS [1000SATS]
1000SATS, as per CoinMarketCap’s data, ended up being the third-largest drop in value over the past week. Initially trading around $0.00033 during that period, it plummeted swiftly, reaching a low of $0.00029.
Initially showing signs of recovery, reaching close to its starting price level early in the week, but ending the week approximately at $0.00030 by closing time.
By the close of the week, SATS experienced a drop of more than 6%. At that point, its market value stood at roughly $650.8 million, while its trading volume was about $56.4 million.
In the past 24 hours, both indicators exhibited a drop. The market capitalization dipped more than 4%, while the trading volume reduced by approximately 37%.
Conclusion
Below you’ll find a summary of this week’s top performers and underperformers. Keep in mind that markets are unpredictable, with prices often changing swiftly due to their volatile nature.
Thus, doing your own research (DYOR) before making investment decisions is best.
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2024-09-15 22:16