Analytics

Amid a Week of Severe Crypto Lows, TON and ONDO Record Gains Despite Broad Market Declines

The past week has not been favorable for the majority of cryptocurrency assets, with only four specific digital currencies recording gains. This week, ONDO appreciated by 13.2%, TON increased by 11.3%, PENDLE grew by 6%, and LEO saw a slight uptick of 0.5%.

Market Update: A Tough Week for Crypto With Few Standouts

The landscape of crypto winners and losers this week was stark, as the gains were few. The total crypto market value stands at $2.36 trillion, reflecting a 1.87% increase from yesterday. Bitcoin (BTC) declined by 9.9% over the week, while ethereum (ETH) dropped by 12.7%. ONDO led the gainers with a 13.2% increase this week, and it has surged by approximately 10% in the last day.

ONDO was the week’s biggest crypto gainer in terms of market performance.

TON has risen over 3% today and was the second-highest gainer of the week, up 11.3% against the U.S. dollar. PENDLE also climbed by 6% this week and has increased by 15% over the last 24 hours. LEO’s gains were minimal, with only a 0.5% increase, though it has decreased by 0.16% as of Monday afternoon. Regarding this week’s losers in the crypto space, over 26 cryptocurrencies experienced losses exceeding 30%.

ORDI was the week’s biggest crypto loser in terms of market performance.

The BRC20 token ORDI was the biggest loser, dropping 39.3% in value. Following the U.S. Securities and Exchange Commission’s Wells Notice, Uniswap’s UNI fell 35.4%. BONK diminished by 35%, and Wormhole’s W token decreased by 34.8%. WLD and FIL saw declines of 34.2% and 33.6%, respectively. Other significant losers include WIF, GALA, DYDX, CHZ, APT, and AAVE.

As the Bitcoin halving event draws near, only days away, the cryptosphere teeters on the brink of significant volatility. While some coins have shown resilience with modest gains, the overwhelming majority have faltered, highlighting the unpredictable nature of digital currencies during pivotal moments. With $2.36 trillion on the line, stakeholders brace for potential upheavals, remaining cautious as the future of the crypto economy hangs in a delicate balance.

What do you think about the week’s gainers and losers in the cryptosphere? Share your thoughts and opinions about this subject in the comments section below.

Source

Click to rate this post!
[Total: 0 Average: 0]
Show More