Crypto market’s weekly winners and losers – STRK, HNT, DOGS, and ATOM

As a seasoned researcher with a heart for cryptocurrencies and a knack for riding market waves, I’ve been keeping a close eye on the recent happenings in the crypto world. The past week has been quite eventful, with some coins showing remarkable gains while others took a hit.

Dogs didn’t perform exceptionally well, instead becoming one of the largest losses in the crypto market over the past week. On the other hand, Helium was the frontrunner a week ago, and it held its ground this week, coming in second among the top performers.

Biggest winners

Starknet [STRK]

Examination of the Starknet (STRK) price movement suggests a dynamic week ahead. The week began with the price hovering approximately at $0.35, subsequently rising progressively, culminating in a closing price of $0.44 by the weekend.

Based on information from CoinMarketCap, it’s worth noting that STRK saw the largest percentage gain over the last week with a significant rise of approximately 23%.

Furthermore, there were substantial increases in trading activity throughout the week. To begin with, the volume peaked at more than $120 million, and towards the end of the week, it went even higher, surpassing $160 million.

Currently, the volume has dropped by approximately 11% to about $119 million. At present, Starknet’s market capitalization exceeds $776 million.

Helium [HNT]

Once more this week, Helium [HNT] joins the list of significant victors in the crypto market. Last week, it led as the highest climber, recording a surge of more than 5% rise.

Over the last seven days, it maintained its impressive streak, finishing as the second-best performer by recording a 16.6% growth.

At the onset of this week, I found that Helium was hovering approximately at $7 in the markets. Throughout the early part of the week, it displayed a gradual uptrend. However, things took an interesting turn around the 4th of September as its price momentum noticeably surged.

By the 6th of September, Helium Network Token (HNT) peaked at about $8.60. Towards the end of that week, its price settled around $8. As I speak now, HNT is still hovering near $8 and has a market cap roughly equivalent to $1.2 billion.

Nevertheless, the trading volume has dropped more than half in the past 24 hours, now standing approximately at $16.3 million.

Sui [SUI]

Analysis of Sui [SUI] on a daily chart shows that it started the week trading at around $0.76, experiencing an initial decline of over 4%. The price movement was choppy throughout the week, with the short-moving average (yellow line) acting as resistance.

On the 6th and 7th of September, a series of upward trends transformed the previous resistance level into a support zone for SUI. During these two days, the price of SUI surged by more than 5% on the 6th and over 6% on the 7th. By the end of the week, it was trading at approximately $0.90.

According to information from CoinMarketCap, SUI experienced an increase of more than 16% this week, placing it among the top three assets with the highest growth rates.

The increase in price has transitioned SUI from a downward trend (bearish) to an upward trend (bullish), as indicated by its Relative Strength Index (RSI). This index has moved beyond the neutral level and is moving towards approximately 60 at the present time.

SUI is trading with an additional 3% increase, and its market capitalization stands at approximately $2.4 billion. Its trading volume, however, has declined by almost 30%, with the current volume at around $301.7 million.

Despite the volume decrease, the recent price action and trend shift suggest continued bullish momentum for SUI.

Biggest losers

DOGS [DOGS]

Dog-related activities on the Ton network surged significantly lately, thanks to numerous large transactions. However, following the initial excitement, there’s been a noticeable drop in activity levels.

As a researcher, I’ve been analyzing the crypto market, and according to my findings from CoinMarketCap, it appears that DOGS has experienced a significant setback in the past week. The data indicates a drop of more than 18% for this particular cryptocurrency.

Initially this week, Dogs were valued at roughly $0.0012, but they experienced significant drops in value for the rest of the week. As a result, by the close of the week, their trading value had decreased to around $0.0010.

Currently, the company’s market value hovers at approximately $527 million, indicating a nearly 3% decrease.

Moreover, the trading volume for DOGS has decreased by about 35% recently, currently standing at roughly $350.6 million.

Cosmos [ATOM]

As I delve into the daily analysis of Cosmos (ATOM), it’s clear that its price has been on a downward trajectory for the past seven days. The graph shows that ATOM saw gains just once during this period, registering an increase of more than 3%. However, the rest of the week was marked by negative trends.

Data from CoinMarketCap shows that ATOM’s price declined by over 18%.

Lately, the downward movement in prices has further intensified the bearish market sentiment. Examining the Relative Strength Index (RSI), we find that it has dipped below 30, suggesting that ATOM is currently oversold – a condition where an asset is sold more than its normal levels and could potentially rebound soon.

As I write this, the market value of ATOM stands roughly at 1.4 billion dollars. Notably, its trading activity has seen a substantial decrease, falling more than 33% to about 112 million dollars in current transactions.

Beam [BEAM]

Last week, BEAM found itself among the top three largest weekly losses, dropping more than 14% as reported by CoinMarketCap. Examining its price movement, we can see that BEAM began the week at approximately $0.014 and experienced a steady decrease throughout.

By the end of the week, its price had dropped to approximately $0.011.

Currently, BEAM’s market cap is roughly $596 million, and its daily trading volume has dropped more than 30% to about $6.3 million.

Conclusion

Below is a summary of this week’s top performers (gainers) and underperformers (losers). Keep in mind that the market can be quite unpredictable, as prices may change swiftly due to various factors.

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

2024-09-08 22:16