Crypto market’s weekly winners and losers – TON, RNDR, BONK, CORE

Toncoin, Render, and Akash Network had the biggest gain in the past week.
Core, Bonk, and Pendle were the biggest losers in the past week.

As a seasoned crypto investor, I’ve closely monitored the market trends this past week and analyzed the performance of various tokens. Based on the data from reputable sources like CoinMarketCap, I’ve identified the biggest gainers and losers in the crypto space during this period.

This week, Toncoin (TON) stood out as the frontrunner among cryptocurrencies, recording significant gains. Additionally, AI and computing-focused tokens displayed impressive performances in the market.

However, the charts indicated that the trend of meme coins has subsided, at least for now.

Last week, Memcoins, including Bonk [BONK], experienced significant losses, indicating a potential trend of decline for this meme coin category under the present market circumstances.

Biggest winners

Toncoin

According to AMBCrypto’s evaluation, Toncoin experienced a consistent upward trend during the week, with its price starting at roughly $5.9 on May 5th and peaking at approximately $6.8 by May 11th.

According to CoinMarketCap’s data, TON experienced a significant surge of 24.35% over the last seven days, making it the top performer for the week. At one point during this period, Toncoin reached a value above $7, but by the end of the week had slightly dipped to around $6.8.

At the present moment, the value of TON was approximately $6.9 per token, with a total market worth surpassing $24 billion.

As a researcher observing the market trends, I’ve noticed that the trading volume for this specific asset has seen a significant decrease, dropping by more than 60%. At the moment of my current investigation, the volume stood at approximately $267.5 million.

Render

AMBCrypto’s look at Render’s [RNDR] chart showed a strong performance over the past week.

Based on AMBCrypto’s analysis of the daily chart, RNDR began the week with a significant 10.28% increase in value, lifting its price from around $8.9 to $9.8.

After that, on the 9th of May, there was a notable rise of more than 9% in its price, bringing it close to $10.85. Although it dipped slightly during the remainder of the week, its general upward trend offset any setbacks.

Although it closed the week in the red, its price remained at around $10.9.

Crypto market’s weekly winners and losers – TON, RNDR, BONK, CORE

Additionally, according to CoinMarketCap’s data, Render experienced a significant rise of approximately 20.80% over the past week, placing it as the second-best performing cryptocurrency during this period.

Just like TON, RNDR experienced a significant drop in trading activity during the last 24 hours, with a decrease exceeding 50%.

From my latest research, the company’s volume stood at approximately $210.5 million, while its market capitalization reached about $4.2 billion. At present, the stock was being traded around $10.8, representing a slight decrease of around 0.6%.

Akash Network

According to CoinMarketCap’s latest report, Akash Network (AKT) ranks third among the weekly price gainers, registering a noteworthy surge of 18.33%.

As a researcher studying AKT‘s price behavior, I discovered that the stock began the week priced around the $5 mark. Yet, it encountered setbacks on the 7th and 8th of May, causing its value to dip down to a low of $4.2.

Nevertheless, the token rebounded on the 9th of May, concluding the week at around $5.7.

At the moment of publication, its price hovered between five and six dollars, while its market value reached approximately one point three billion dollars. However, it experienced a drop of more than three percent in the previous twenty-four hour period.

Furthermore, the trading volume of this asset has dropped significantly, amounting to approximately $122.3 million in current market activity.

Biggest losers

Core

Over the past week, CORE saw a substantial drop of 14.62%, making it one of the leading contenders for the biggest losses according to recent market statistics from CoinMarketCap.

The price trend of CORE demonstrated a difficult path throughout the week. It commenced the period around $1.9, but then saw a persistent downturn. By the week’s conclusion, the token’s value had dropped significantly to approximately $1.5.

From my perspective as an analyst, I’ve noticed some encouraging indicators suggesting a possible upward trend for the token at present. The token is making efforts to bounce back and is currently priced at approximately $1.7.

As an analyst, I would express it this way: At present, the company’s market capitalization hovers around the $1.5 billion mark, representing a noteworthy growth of nearly 5% within the past 24 hours.

In the past day, Core’s trading volume has seen a decline of nearly 5%, now hovering at approximately $66.7 million despite efforts to bounce back.

Bonk

Bonk, once considered a high-flying memecoin, has faced negative performance in the past week.

As a crypto investor, I noticed that after examining AMBCrypto’s daily price chart, the downward trend appeared like a series of steps, suggesting a significant drop in value.

Crypto market’s weekly winners and losers – TON, RNDR, BONK, CORE

The week began with a stark decline of over 4%, with BONK trading at around $0.000026.

After that, it experienced a drop for three straight days before recording a nearly 5% rise on May 9th.

By the close of the week, the cryptocurrency’s value had plummeted to approximately $0.000022, making it the second most significantly decreased asset of the period, with a 14.44% price drop based on CoinMarketCap statistics.

At the moment of publication, Bonk’s total market value stood at approximately $1.45 billion, marking a drop of more than 2% compared to before.

Moreover, the trading volume has dropped by more than half, reaching around $103.5 million, suggesting a significant decrease in market activity.

Pendle

This week, PENDLE endured a significant setback, ranking as the third-largest cryptocurrency to decline based on CoinMarketCap’s statistics, suffering a loss of approximately 13.55% in value.

The weekly price analysis showed that the opening price was approximately $5.0 on the first day. Prices then rose, peaking at around $5.3 on May 6th.

Starting from the 7th of May, I noticed a consistent downward trend in the price. By the week’s end, it had settled around $4.3.

When I penned this down, Pendle’s total value in the stock market had dropped by more than 3% within the past 24 hours, amounting to around a billion dollars.

During the same time frame, there was a nearly 50% decrease in trading volume, amounting to approximately $25.7 million.

Conclusion

In this installment, I’ll run down the top performers and underperformers from the past week. Keep in mind that markets are inherently unpredictable, with prices frequently fluctuating significantly.

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

2024-05-12 22:16