Crypto market’s weekly winners and losers – SAFE, RAY, IMX, APE

Safe, Raydium, and cats in a dogs world were the biggest winners of the past week.
Immutable X, ApeCoin, and Arweave saw the biggest losses of the past week.

As an analyst with over a decade of experience in this dynamic and unpredictable crypto market, I have learned to navigate its turbulent waves with a keen eye and a steady hand. This week’s market recap presents a fascinating study in contrasts – the swift rise of winners and the equally swift fall of losers.

Last week’s closing saw Safe coin leading the pack among cryptocurrencies, registering a nearly 50% growth. Conversely, ApeCoin struggled and slipped from the winners’ list to the losers’ side by the week’s end.

Biggest winners

Safe [SAFE]

Examining the day-by-day graph for SAFE over the course of the week revealed a typical pattern at first. Yet, as the days progressed, the chart displayed significant fluctuations in price, shaping the overall trend of the week.

Initially, its cost was approximately $0.95 on Monday, following a rise of over 1%. But on the very next day, there was a surge of more than 15% in its price. However, this was followed by significant drops in price.

During my analysis, I discovered that the significant price trend for the week occurred on Thursday and Friday. On this particular Thursday, there was a substantial surge in price by approximately 42.13%, pushing it up to nearly $1.34. The following day, another increase of approximately 10.45% occurred, bringing the price close to $1.48.

Crypto market’s weekly winners and losers – SAFE, RAY, IMX, APE

Nevertheless, by the end of the week, it had dipped more than 1%, but its value merely fell to approximately $1.46. Moreover, its Relative Strength Index indicated that it was overbought, suggesting a potential recovery could occur in the near future.

As an analyst, I’ve observed that, based on CoinMarketCap data, the cryptocurrency in question saw a substantial 49% increase this week, making it the most significant weekly gainer. Interestingly, despite this impressive growth, its market capitalization was relatively small compared to other top gainers, sitting at approximately $658 million.

Raydium [RAY]

As a crypto investor, I noticed that Raydium (RAY) was one of the top performers last week. Initially, its price was hovering around $2.2 at the beginning of the week. However, as the week progressed, I saw its price increase by nearly 3% by the time Friday rolled around.

With the price trend, it gained over 44% in the past week, according to data from CoinMarketCap.

As a crypto investor, I’m excited to note that RAY, one of my top performers, currently holds the second-largest market cap among gainers, standing at approximately $843 million. Moreover, its price has surged to around $3.2 at this moment, reflecting an impressive 8% increase in its market capitalization.

The volume was the only thing that saw a decline of over 1% as of this writing; it was over $110 million.

Cats in a dogs world [MEW]

In the realm of digital currencies, I found myself observing the performance of two notable contenders – Cats (representing other altcoins) and Popcat (a specific altcoin). Both were vying for the third-largest weekly gain, but it was MEW that ultimately came out on top.

The analysis of its chart revealed that the asset had a sluggish beginning to the week, with its value hovering near $0.008. However, by the close of the week, it experienced a significant surge, pushing its price up to approximately $0.011, marking a notable uptrend.

By the week’s close, it was trading at approximately $0.010. At that time, its market value was roughly $887 million, and its daily trade volume stood at around $167 million. Notably, however, the volume has experienced a drop of over 40% within the past 24 hours.

Top 500 gainers

In the top 500 assets, Virtual Protocol (VIRTUAL), Moo Deng (MOODENG), and Nosana (NOS) emerged as the leading performers. The graph indicated that VIRTUAL experienced a significant increase of more than 203%, followed closely by MOODENG with approximately 153% growth. Lastly, NOS, the third-best performer, demonstrated a nearly 129% gain.

Biggest losers

Immutable X [IMX]

Immutable X is leading the pack on the underperforming side, as it has dropped by approximately 19.5% in the last seven days. Its price trajectory indicates that it began the week at roughly $1.6, but experienced a noticeable downward trend. By the close of the week, its value had dipped to around $1.3.

In my current research findings, it appears that the company’s downward trend persists. At present, its market capitalization stands nearly at $2.2 billion, but a decline of more than 1% has been observed within the past day. Furthermore, the trading volume has significantly decreased by around 50%, amounting to approximately $23 million over the same period.

ApeCoin [APE]

Last week, ApeCoin was among the top performers. However, it failed to sustain its initial success and ended up as one of the second-largest losers, experiencing a drop of more than 17%. According to CoinMarketCap’s data, this was the case during the past seven days.

Initially, an analysis revealed that APE experienced a significant surge at the start of the week, escalating by approximately 71.15% and nearing $1.5 in value. The following day, it demonstrated further potential as it climbed another 5%, pushing its price above $1.5.

Consequently, there were substantial drops observed later on, and by the close of the week, it was transacting approximately at $1.

Crypto market’s weekly winners and losers – SAFE, RAY, IMX, APE

Currently, the trend is showing improvement as it’s surpassing its 200-day moving average (represented by the blue line) and also exceeding the neutral zone of the Relative Strength Index (RSI). This is a significant jump since the last time it went above the blue line was in April. Nevertheless, if the downward trend persists, there’s a possibility that the price might drop below the blue line again.

Its volume has declined by almost 70% in the last 24 hours and was around $155 million.

Arweave [AR]

In simpler terms, Arweave ended up being the third-largest loser this week. The value started close to $19 at the beginning of the week but dropped to approximately $16 by its end. According to CoinMarketCap, Arweave’s price decreased more than 16% during the past seven days.

Currently, the figure stands at approximately $35 million for its volume, representing a decrease of more than 45%. Additionally, its market capitalization hovers around $1 billion, showing a drop of over 3% as well.

Top 500 losers

In the list of the top 500 biggest losses, Scroll led with a decrease exceeding 39%. Deep Book Protocol followed closely as the second-largest loser, experiencing nearly a 34% fall. Similarly, Casper saw almost a 34% decline.

Conclusion

Each week, I compile a summary showcasing the most significant market movers – both the rising stars and the challenges that encountered setbacks. It’s essential to keep in mind the unpredictable dynamics of our market landscape, as price fluctuations can occur swiftly and dramatically.

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

2024-10-27 22:17