This week, the value of bitcoin rose by over 6% against the U.S. dollar, while ether saw a more modest increase of over 3% during the same period. Additionally, more than twelve alternative cryptocurrencies experienced significant gains, ranging from 10% to 33.4%.
In terms of overall market performance, the total value of the crypto economy stood at $2.41 trillion as of Monday, representing a slight increase of 0.03% in the past day. Furthermore, global trading volume in crypto assets reached $59.98 billion, which marks a substantial increase of over 26% from Sunday.
Among the top gainers over the past seven days, pendle (PENDLE) took the lead with a remarkable climb of 33.4% against the dollar, and it also saw a rise of more than 12% in the last day. Fantom (FTM) secured the second position with a significant increase of 31.4%, followed by chainlink (LINK) with a notable rise of 21.8% for the week.
Other notable gainers during this period include solana (SOL), ondo (ONDO), arweave (AR), safe (SAFE), and theta (THETA), each experiencing gains ranging from 13.8% to 20.7% against the dollar.
Excluding bitcoin, ether, and stablecoins, the cryptocurrencies with the highest trading volumes this week were solana (SOL), binance coin (BNB), XRP, dogecoin (DOGE), pepe (PEPE), chainlink (LINK), dogwifhat (WIF), and pyth (PYTH).
In terms of losses, three digital assets experienced double-digit declines despite the overall positive trend. Worldcoin (WLD) faced the largest decline, dropping by 19.4% against the U.S. dollar. It was followed by dogwifhat (WIF) with a decrease of 13%. Toncoin (TON), a new entrant to the top ten, fell by 11.7% against the dollar. Additional notable losses were seen in ENA, RNDR, W, MNT, and TIA, each declining between 4.9% and 9.3%. DYDX, binance coin (BNB), cosmos (ATOM), and lido (LDO) also saw losses ranging from 4.1% to 4.8% over the week.
What are your thoughts on the performance of the crypto market this week? Feel free to share your opinions and insights in the comments section below.
