As a seasoned crypto investor with a few battle scars and victories under my belt, I’ve learned to keep an eye on market trends and the fear and greed index. The recent dip in the market, despite the bullish sentiment and new highs for many cryptocurrencies, came as a surprise. With the fear and greed index reporting 51, we are treading on bearish territory.
I’ve noticed an intriguing development in the fear and greed index, which currently stands at 51 on the charts. This is quite unexpected as the market has been on a bullish streak for quite some time now, with many cryptocurrencies setting new highs according to Coinmarketcap. However, the absence of a bullish market trend led most cryptocurrencies to experience significant declines. Consequently, the global market capitalization dropped to $2.35 Trillion, and trading volume plummeted to $34 Billion – its lowest point this month. Let’s delve deeper into some of the crypto gainers and losers to assess the current market situation.
Biggest Crypto Gainers of The Week
As an analyst, I’ve observed some cryptocurrencies defying the market trends and racking up substantial gains. Currently, Turbo, SolCex, and Pendle are leading the pack as the most profitable crypto investments of the month. These digital assets have managed to sustain their value growth and continue to surge forward.
Turbo (TURBO)
Turbo is currently one of the top performers in the crypto market, experiencing a significant increase of 42% within the past week. Its current price stands at $0.006356, having dropped to a recent low of $0.003523. The upward trend is not just a recent development, as it has been on an uptick for weeks, resulting in a remarkable growth of 242% over the past month. This surge reached a peak with an all-time high of $0.00978 earlier this month.
SolCex (SOLCEX)
SolCex, a centralized cryptocurrency exchange operating on the Solana network, experienced a significant weekly growth of 29%. Despite tough market circumstances, it stands out as one of the top crypto performers, currently valued at $0.01577. The surge could persist given the increased network activity and substantial 167% increase in trading volume.
Pendle (PENDLE)
As an analyst, I’ve observed that after experiencing a dip to $4.78, Pendle’s price has experienced a significant 16% increase, now standing at $6.13 with a market capitalization of over $949 million. While this surge is noteworthy, it falls short of the ambitious target set two months ago for the all-time high (ATH) price.
Biggest Crypto Loser of The Week
As a crypto investor, I’ve noticed that following the recent market downturn, certain digital assets have suffered significant losses. Among these disappointing performers are BYTE, Gamestop, and ZKSync. Despite their promising starts with impressive gains earlier in the week, their values have taken a hit and are now among the hardest-hit cryptocurrencies.
Byte (BYTE)
Byte has experienced a significant drop in value following its peak at $0.00003619, now trading at a lower price of $0.00001329 – representing a 43% decrease over the past few days. Since its March rally, Byte’s value has been on a downward trend.
Gamestop
Gamestop experienced significant cryptocurrency price growth earlier on, but more recently, its value has taken a downturn, causing concern for investors. Currently, the Gamestop price hovers at $0.007681, representing a 36% decrease in the last seven days. This decline leaves the GME token a considerable distance from its all-time high of $0.03207, which was reached just two weeks prior and now seems unreachable at a 76% difference.
ZkSync (ZK)
As a researcher studying the cryptocurrency market, I’ve come across ZKSync Network’s native token, ZK. The token has been embroiled in controversy due to its ZK Airdrop. The repercussions of this controversy are evident in ZK’s price performance. Over the past week, the token’s value has decreased by a significant 37%, dropping it down to $0.1803.
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2024-06-23 09:32