- Crypto markets have rebounded after geopolitical jitters, but some coins have surged far ahead.
- Altcoins were the higher-increasing cryptos this week as Ethereum and Bitcoin have taken a backseat.
- Only one coin has stood on the losers’ podium, however, it has boasted a near 50% gain over the past month.
The cryptocurrency market has shown signs of recovery following a dip caused by rising geopolitical tensions in the Middle East. While most major coins experienced gains over the past week, some outperformed others significantly.
Altcoins Lead the Show
At the time of writing Bitcoin and Ethereum, the two largest cryptocurrencies by market capitalization, saw modest increases. Bitcoin climbed 1.5% compared to its price last Sunday, while Ethereum managed a 3% gain. Other established players like Avalanche (AVAX) and Binance Coin (BNB) enjoyed similar gains, rising 5% and 4.4% respectively.
Dogecoin, the meme-inspired cryptocurrency, followed suit with a 6.1% increase. However, the real winners this week were Solana (SOL) and XRP (XRP) and Cardano (ADA), all posting significant gains of 9%, 8.3% and 9.6% respectively.
The surprise story? Shiba Inu (SHIB), another meme coin, skyrocketed a staggering 22.4% over the past seven days, outperforming all other major top 10 cryptocurrencies. This impressive jump solidifies SHIB’s position as one of the market’s most volatile assets.
Interestingly, Toncoin (TON) stands out as the week’s only loser, dropping 5%. However, it’s important to note that TON defied the downward trend during the initial geopolitical tensions, surging 20% against the grain. In fact, TON holds the title of the leading performer over the past month, with a near 50% price increase.
Winners
All but one of the top 10 cryptocurrencies experienced price increases over the past week. Here’s a look at them:
Losers
Only one of the top 10 cryptocurrencies experienced price losses over the past week. Here’s a look at them, ranked by their percentage decrease:
This is just a snapshot of the current market conditions at the time of writing. Cryptocurrency prices are constantly fluctuating, so it’s important to do your own research before making any investment decisions.
On the Flipside
- The cryptocurrency market is known for its dramatic price swings. This week’s recovery doesn’t guarantee sustained growth, and future dips could still happen.
- While there’s a recovery, the cryptocurrency market still remains lower than its highs before the geopolitical tensions.
Why This Matters
This week’s market movements highlight the dynamic nature of the cryptocurrency landscape. While established players like Bitcoin and Ethereum continue to hold significant sway, alternative coins like Solana, XRP, and even meme coins like SHIB are capable of generating impressive gains.
With Bitcoin halving just behind us, many are looking for the next big cryptocurrency. This article explores Solana, a blockchain that’s been called an “Ethereum killer”:
Solana History: The Story Behind Crypto’s Leading Ethereum Killer
With Bitcoin fees skyrocketing after the halving, is this the end for small users? This article explores the impact of high fees:
Bitcoin Fees Hit ATH Post Halving: Are Users Getting Priced Out?
