Crypto market’s weekly winners and losers – HYPE, BGB, WIF, APT

Movement, Hyperliquid, and Bitget Token were the biggest winners in the past week.
Dogwifhat, Gala, and Aptos were the biggest winners from the other end of the table.

As someone who has been closely following the crypto market for quite some time now, I must say this week has been a rollercoaster ride! The extreme volatility we witnessed is nothing new to us seasoned investors, but it certainly keeps things exciting!

This week’s cryptocurrency analysis highlights Movement (MOVE) as the top performer, experiencing a substantial increase of 45.1%. Hot on its heels are Hyperliquid (HYPE) and Bitget Token (BGB), which also demonstrated impressive growth.

Currently, Dogwifhat (WIF), Aptos (APT), and Gala (GALA) have experienced significant losses, showcasing the unpredictable behavior common in the cryptocurrency market. This overview underscores the ever-changing tendencies within the market as prices continue to shift dramatically.

Biggest winners

Movement (MOVE)

movement (MOVE) experienced the most significant growth over the past week, boasting a substantial 45.1% rise in worth, as indicated by CoinGecko’s data. At the start of the week, it showed a modest dip of 1%, trading at approximately $0.63.

On the other hand, the positive momentum for the asset noticeably intensified around mid-week, with particularly large surges happening on December 19th and 20th. During this timeframe, MOVE saw rises exceeding 19% and 42%, resulting in a weekly peak of approximately $1.06.

Although MOVE had a strong run, it experienced a 8% dip at the end of the week, ending at $0.97. This slide may be due to traders taking profits after realizing substantial gains in the short term. The trading activity throughout the week saw a notable increase, indicating increased investor attention. However, as we speak, the volume has dropped by more than 55%, now hovering around $1.2 billion.

Hyperliquid (HYPE)

In the previous week, Hyperliquid truly justified the anticipation surrounding it by delivering an exceptional performance. Notably, HYPE managed to climb up the ranks, becoming the second-best performer with a remarkable 42.7% growth.

Initially, the value dropped by more than 1% as the token began the week at around $24, giving off a slightly pessimistic vibe. Yet, this initial dip was followed by a span where the price fluctuated significantly, suggesting that investors were uncertain about the market’s direction.

On December 19th, HYPE experienced a significant shift as bullish energy took hold, sparking a strong upward trend. By the close of that week, HYPE’s price had risen to around $32. However, in the past 24 hours, its trading volume has decreased by more than 35%.

Bitget Token (BGB)

Last week, BGB saw significant growth and ranked third among all assets, experiencing nearly a 38% surge. The upward trend began at the start of the week, with a more than 1% rise that placed its value around $3.1. As the days progressed, the momentum built, causing subsequent uptrends to push the price to approximately $4.5 at its peak.

The event saw a high level of trading activity, indicating increased investor enthusiasm and trust in the digital token. Technical markers like MACD displayed a continuous bullish shift, supporting the upward trend. Yet, the RSI approached oversold territory, hinting at a possible pause or cool down phase.

In the last couple of days of the week, the expected occurrence became reality as profit-making actions caused a dip. The price dropped to approximately $4.1 by the end of the week, signifying a period of stabilization. Even with the temporary setback, BGB demonstrated robust overall strength, indicating sound market foundations.

Top 1,000 gainers

Beyond the first hundred, this week’s most significant upward mover was InSure DeFi (SURE), experiencing a massive jump of more than 830%. Following closely were Send (SEND) and Freysa AI (FAI), which saw increases of approximately 490% and 247%, respectively.

Biggest losers

Dogwifhat (WIF)

As an analyst, I found myself grappling with Dogwifhat’s challenging trading week, marking it as the biggest loser with a significant 29% drop. The token started on a somewhat hopeful note last week, trading at approximately $2.855, indicating a modicum of optimism among traders. Regrettably, this initial positive trend was swiftly overshadowed by persistent bearish forces.

Over the course of the week, the price trend generally declined, experiencing brief upticks but these were not enough to counteract the overall downward movement. A notable exception occurred on December 20th, but even this spike in price couldn’t reverse the dominant downtrend. By Friday, WIF had experienced a substantial drop and ended the week at roughly $1.889.

Aptos (APT)

Over the last seven days, APT (Aptos) saw a significant drop, ranking it as the second-largest loser with a 27% decrease in worth. At the beginning of the week, the token was trading at $13.65, providing investors a momentary sense of hope.

However, a significant bearish trend took over, culminating in the token closing the week at approximately $9.52.

The sudden departure of the Aptos CEO significantly contributed to the current downturn, since market players tend to respond unfavorably to leadership shifts, especially within burgeoning blockchain ventures such as Aptos. This change can instill doubt regarding the venture’s future trajectory and robustness.

In simpler terms, the technical analysis shows a pessimistic outlook as APT has dropped beneath crucial support lines. The Bollinger Bands expanded during the drop, hinting at heightened volatility. Furthermore, the price has persistently stayed below the 50-day Moving Average, implying a decrease in positive momentum.

From my perspective as an analyst, it’s encouraging to note that sharp drops in prices can pique the interest of savvy investors who are on the lookout for attractive entry points or bargains, be they short-term traders or long-term investors.

Gala (GALA)

Last week proved to be a tough one for GALA, as it experienced a significant drop of 27%, landing it in third place among the top weekly losers. The token began the week on an optimistic note, trading near $0.050, which fueled enthusiasm among traders. Unfortunately, bears took control for the rest of the week, with continuous selling observed throughout the sessions.

Relief arrived on December 20th as GALA briefly increased. However, this brief rise failed to reverse the continuous decline in its value. By the week’s end, the token’s price plummeted substantially, reaching around $0.034. This downturn underscored a prolonged negative outlook on the asset.

Top 1,000 losers

This week, the cryptocurrency that experienced the most significant drop outside of the top 100 was Cortex (CTXC), plummeting by more than 70%. Following closely were Wazir X (WRX) and Eliza (ELIZA), with declines of over 67.9% and approximately 57.5%, respectively.

Conclusion

As a diligent researcher, I’ve compiled this week’s summary highlighting the stocks with the most significant gains and losses. Remember, the market is inherently dynamic, with prices frequently fluctuating due to various factors. This volatility underscores the importance of staying informed and adaptable.

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

2024-12-22 22:16