Cryptocurrency assets had a tough week, with only four digital currencies managing to record gains. ONDO, TON, PENDLE, and LEO were the only winners, with ONDO leading the pack with an appreciation of 13.2%. TON saw an increase of 11.3%, PENDLE grew by 6%, and LEO experienced a slight uptick of 0.5%.
The overall crypto market had a limited number of winners and losers this week. The total value of the crypto market currently stands at $2.36 trillion, representing a 1.87% increase from yesterday. Bitcoin (BTC) declined by 9.9% over the week, while ethereum (ETH) dropped by 12.7%. ONDO was the top gainer this week, with a 13.2% increase, and it has surged by approximately 10% in the last day.
TON also performed well, rising by over 3% today and recording an 11.3% increase for the week against the U.S. dollar. PENDLE climbed by 6% this week and saw a 15% increase over the last 24 hours. LEO’s gains were minimal, with only a 0.5% increase, although it has decreased by 0.16% as of Monday afternoon. On the flip side, there were over 26 cryptocurrencies that experienced losses exceeding 30%.
ORDI, the BRC20 token, was the biggest loser of the week, dropping by 39.3% in value. Following the U.S. Securities and Exchange Commission’s Wells Notice, Uniswap’s UNI fell by 35.4%. BONK decreased by 35%, and Wormhole’s W token saw a decline of 34.8%. WLD and FIL also experienced declines of 34.2% and 33.6%, respectively. Other notable losers include WIF, GALA, DYDX, CHZ, APT, and AAVE.
With the Bitcoin halving event just days away, the crypto market is on the verge of significant volatility. While some coins have shown resilience with modest gains, the majority have struggled, highlighting the unpredictable nature of digital currencies during crucial moments. With $2.36 trillion at stake, stakeholders are bracing themselves for potential upheavals and remaining cautious as the future of the crypto economy hangs in a delicate balance.
What are your thoughts on the winners and losers in the crypto market this week? Share your opinions in the comments section below.
