The cryptocurrency market is characterized by its volatility and rapid fluctuations, presenting both opportunities and challenges for investors and enthusiasts. In this article, we conduct a detailed analysis of the crypto market, focusing on two key areas: the 7-day price change and dominance analysis of top cryptocurrencies, and the top gainers and losers of the week.
Crypto Weekly Price Change and Dominance Analysis
Bitcoin, Ethereum, Tether, BNB, and Solana emerge as the top cryptocurrencies based on market cap and dominance indices. Let’s delve into their 7-day price change and dominance percentages:
Bitcoin (BTC):
7-Day Change: Bitcoin experienced a notable 7-day price increase of +9.7%, indicating positive price momentum in the market.
Dominance Percentage: With a dominance percentage of 49.54%, Bitcoin continues to maintain its position as the dominant cryptocurrency in the market.
Price: The current price of Bitcoin stands at $69,946.54, reflecting its value in the market.
Market Cap: Bitcoin’s market capitalization is an impressive $1,378,457,507,060, underscoring its significance in the cryptocurrency ecosystem.
Ethereum (ETH):
7-Day Change: Ethereum witnessed a moderate 7-day price increase of +5.6%, indicating positive but relatively subdued price movement compared to Bitcoin.
Dominance Percentage: Ethereum holds a dominance percentage of 15.21%, highlighting its substantial presence in the market.
Price: The current price of Ethereum is $3,499.52, reflecting its value relative to other cryptocurrencies.
Market Cap: Ethereum’s market capitalization is $422,248,684,079, making it one of the largest cryptocurrencies by market cap.
Tether (USDT):
7-Day Change: Tether, as a stablecoin, experienced minimal price movement with a 7-day change of just +0.1%.
Dominance Percentage: Tether’s dominance percentage is relatively low at 3.77%, given its stable value and utility as a stablecoin.
Price: The price of Tether remains stable at $0.9998, as it is designed to maintain a 1:1 peg to the US dollar.
Market Cap: Tether has a substantial market capitalization of $104,611,605,274, reflecting its widespread use in the cryptocurrency market for trading and liquidity.
Binance Coin (BNB):
7-Day Change: Binance Coin (BNB) experienced a significant 7-day price increase of +10.7%, indicating strong bullish momentum.
Dominance Percentage: BNB holds a dominance percentage of 3.42%, reflecting its growing influence in the market.
Price: The current price of Binance Coin is $606.15, reflecting its value relative to other cryptocurrencies.
Market Cap: BNB has a substantial market capitalization of $93,831,277,285, highlighting its position as one of the top cryptocurrencies by market cap.
Solana (SOL):
7-Day Change: Solana exhibited impressive performance with a 7-day price increase of +15.6%, indicating strong bullish sentiment.
Dominance Percentage: Solana’s dominance percentage is 3.07%, highlighting its growing prominence in the market.
Price: The current price of Solana stands at $198.77, reflecting its value relative to other cryptocurrencies.
Market Cap: Solana’s market capitalization is $88,429,587,186, underscoring its position as one of the leading cryptocurrencies in the market.
Over the past week, Solana exhibited the highest price surge at 15.6%, followed by Binance Coin at 10.7% and Bitcoin at 9.7%. Ethereum and Tether also experienced positive gains, albeit at a slower pace.
Top Gainers & Losers of the Week in Crypto Market
Let’s examine the top gainers and losers of the week in the cryptocurrency market:
Top Gainers of the Week in Crypto
dogwifhat:
Price Change: +102.97%
Current Price: $4.55
dogwifhat surged by an impressive 102.97% over the past week, making it one of the top gainers in the cryptocurrency market. This substantial increase in value may have been driven by factors such as positive market sentiment, increased demand, or specific developments within the project.
Core:
Price Change: +100.69%
Current Price: $1.19
Core witnessed a significant gain of 100.69% during the previous week, positioning it as one of the top performers. This notable increase in price could be attributed to factors such as project developments, partnerships, or increased interest from investors and traders.
Mantle:
Price Change: +58.50%
Current Price: $1.27
Mantle experienced a substantial gain of 58.50% over the past week, reflecting positive momentum in the cryptocurrency market. This increase in value may have been driven by various factors such as protocol upgrades, community engagement, or market speculation.
GateToken:
Price Change: +44.41%
Current Price: $10.69
GateToken saw a notable gain of 44.41% during the previous week, positioning it among the top gainers in the cryptocurrency market. This increase in price could be influenced by factors such as exchange listings, project developments, or increased trading volume.
Bitcoin Cash (BCH):
Price Change: +40.81%
Current Price: $596.52
Bitcoin Cash (BCH) witnessed a significant gain of 40.81% over the past week, reflecting positive price momentum in the cryptocurrency market. This increase in value may have been driven by factors such as broader market trends, increased adoption, or specific developments within the Bitcoin Cash ecosystem.
Overall, these cryptocurrencies experienced substantial gains over the past week, with dogwifhat and Core leading the pack with impressive gains of over 100%. These notable increases in value highlight the dynamic nature of the cryptocurrency market and the potential for significant price movements within a short period.
Top Losers of the Week in Crypto
The past week in the cryptocurrency market witnessed several tokens experiencing notable losses, with some facing significant declines in their value. Here’s a detailed elaboration on the top losers of the week:
KuCoin Token (KCS):
Price Change: -22.67%
Current Price: $10.83
KuCoin Token (KCS), the native cryptocurrency of the KuCoin exchange, faced a substantial decline of 22.67% over the past week. This significant drop in price may have been influenced by various factors such as market sentiment, trading volume, and external events impacting the exchange.
Bittensor (BT):
Price Change: -12.26%
Current Price: $521.39
Bittensor (BT), a blockchain protocol for decentralized machine learning, experienced a decline of 12.26% in its price over the past week. This decrease in value could be attributed to factors such as changes in market dynamics, trading activity, or developments within the project itself.
Fantom (FTM):
Price Change: -9.93%
Current Price: $0.9759
Fantom (FTM), a decentralized platform for smart contracts and dApps, witnessed a decrease of 9.93% in its price during the previous week. This decline may have been influenced by market volatility, profit-taking by investors, or specific news events affecting the project.
Akash Network (AKT):
Price Change: -2.87%
Current Price: $5.10
Akash Network (AKT), a decentralized cloud computing marketplace, saw its price decline by 2.87% over the past week. This relatively minor decrease may have been driven by various factors such as market corrections, investor sentiment, or changes in the project’s fundamentals.
Kaspa (KSP):
Price Change: -2.62%
Current Price: $0.1374
Kaspa (KSP), a blockchain platform focusing on scalability and decentralized applications, experienced a modest decrease of 2.62% in its price over the previous week. While less significant compared to other losers, this decline may still reflect market dynamics or specific factors affecting the project.
The crypto market continues to exhibit dynamic price movements and fluctuations, presenting both opportunities and risks for investors. As evidenced by the 7-day price change and top gainers and losers analysis, various cryptocurrencies have experienced notable shifts in value, highlighting the volatility inherent in the market. By staying informed and conducting thorough analysis, investors can navigate the crypto landscape effectively and make informed decisions to capitalize on emerging trends and opportunities.
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