As a seasoned crypto investor, I’m always keeping an eye on the market trends and analyzing the performance of various cryptocurrencies. The past week has been a rollercoaster ride with some significant gains and losses. The market cap is back above $2.18 Trillion, and Bitcoin is trading at $58K, which is a positive sign after the market crash.
During the second week of July, the market has shown notable progress with the total market capitalization reaching $2.18 trillion once again. The price of Bitcoin is now hovering around $58,000. Furthermore, the fear and greed index has shifted from fear to neutral, indicating a growing sense of confidence among investors. This shift has resulted in some significant gains for crypto assets, generating new income streams. On the other hand, certain crypto investments that were previously underperforming have experienced losses due to bearish market trends.
After the selling pressure has subsided in the market, there have been increasing investments in Bitcoin ETFs. Moreover, JP Morgan, a reputable financial institution, forecasts a market rebound by August based on their recent reports.
Top Crypto Gainers of The Week
Recently, some older cryptocurrencies like Notcoin and XRP have regained prominence, becoming top performers in the crypto market this week. This upturn offers relief to investors who suffered losses during the preceding week.
MANTRA (OM)
For the past two weeks, Mantra has been among the cryptocurrencies experiencing growth. This meme coin showed strong performance in the previous week as well. Currently, it is priced at $1.07 following its peak of $1.14 on Monday. Despite a decrease in value since then, Mantra has managed to secure a 25% increase in value over the last seven days.
Notcoin (NOT)
At the start of June, Notcoin experienced its greatest value, reaching an all-time high of $0.02896. Unfortunately, since then, its value has dropped approximately 50%, plunging to a low of $0.009515 on July 5. However, there’s been a partial recovery over the last seven days, with Notcoin’s price now at $0.01511 and a market capitalization of $1,549,446,678.
Ripple (XRP)
Despite the challenging market conditions, XRP managed to bounce back significantly following the crash. The digital currency had been grappling with price instability for years, reaching a new low of $0.3984 recently. However, the positive developments in the ongoing Ripple vs. SEC case have led to a 22% weekly growth and a 16% increase within the last day. Currently, XRP is being traded at around $5.4.
Top Crypto Losers of The Week
As a crypto investor, I’ve noticed that both the profitable cryptocurrencies and those experiencing losses have been active in the market this week. Surprisingly, even meme coins – which typically thrive in sluggish market conditions due to their high demand and profitability potential – have seen significant losses this time around.
1. Hoppy (HOPPY)
The recent downturn in Hoppy’s performance is unexpected given that it reached a new peak of $0.0002025 on June 7, just a day after the market experienced a significant crash. This event catapulted Hoppy into the list of top cryptocurrency gainers. Remarkably, it has managed to increase by an impressive 311% over the past month, despite losing 41% of its value in the last week. Currently, Hoppy is priced at $0.0001124, representing a 45% decrease from its all-time high.
2. Dogwifhat (WIF)
The worth of Dogecoin has been on a downward trend despite its widespread acceptance among investors. This digital currency peaked several months ago and has since faced challenges in the financial market. A recent 22% drop serves as evidence of the WIF token’s faltering performance. Its current value stands at $1.60, which is the lowest it has been over the past four months, with a total market capitalization of $1,596,078,622.
3. Michi (MICHI)
Michi has experienced continuous losses for over three weeks now, with a drop exceeding 39% within the past 30 days. A minor rebound occurred at the start of the month, but this week saw another significant loss of approximately 39%, bringing its current value to $0.1075 and market capitalization down to $59,724,346.
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2024-07-14 11:24