- The last seven days in the cryptocurrency ecosystem have been characterized by a general increase in value, with global crypto market capitalization at $1.90 trillion.
- This week was positive for the top-ranking cryptocurrencies, with Bitcoin, Ethereum, Binance Coin, Polkadot, and Filecoin recording double-digit gains.
- THETA was the only crypto in the top 15 that failed to make significant gains in the last seven days. Lesser-known coins recorded the most losses in the seven-day period.
The last seven days have been terrific for the cryptocurrency industry as the market has taken off in one of the strongest bull runs in recent times.
The strong run of form among the major cryptocurrencies accounts for the spike, with market capitalization sitting at an impressive $1.90 trillion.
Bitcoin, Ethereum, Binance Coin, and Polkadot were among the major coins reaping the rewards. While relatively unknown coins recorded significant losses despite the general price rally.
Top Performing Cryptos
Bitcoin
The largest and most popular cryptocurrency, Bitcoin closes the week at an impressive $59,411 from a previous low of around $53,000 at the start of the week.
The 14.15% gained by Bitcoin sees its market capitalization rise to $1.1 trillion, with daily trading volumes above $66 billion.
Ethereum
This week, Ethereum’s impressive run of form sees it trade at $1,938, representing a 20.13% jump to almost reach its previous ATH of $2,036.29, which it set around a month ago.
Despite the controversial proposed upgrade that has left miners grumbling, Ethereum shows no sign of slowing down as it holds on firmly to its status as the second-largest crypto.
Binance Coin
Binance Coin’s 38.74% increase in the last seven days entrenches it in third place, with a market capitalization of $40.74 billion placing it above stablecoin Tether.
Taking full advantage of the boom, Binance Coin currently trades at $325.59, with analysts predicting that the coin is set to surpass previous highs.
Polkadot
Polkadot is also on course to exceed its previous ATH as it has gained a stunning 24.04% within the last seven days; it is now trading at $37.96. Average daily trade volumes are at $3 billion, and the market cap is pegged at $35 billion.
Filecoin
Filecoin recorded the largest price spike among the major cryptocurrencies with a 148.40% increase in the last seven days. At the moment, Filecoin is trading at $228.10 and is ranked as the ninth-largest cryptocurrency.
On the Flipside
- New York Attorney General Letitia James has warned investors to take extreme caution if considering investing in digital currencies.
- She referred to Bitcoin and other cryptocurrencies as “high risk” and “not a prudent investment.”
- According to James, cryptos promise unrealistic returns, which have opened the door for con artists and cheats.
Some Of The Underperforming Cryptos This Week
THETA
In contrast to the other big cryptocurrencies on this list, THETA dropped 4.67% of its value in the last seven days, making it the only crypto in the top 15 to record a significant dip.
Olyseum
Olyseum tops the list as the biggest loser for the week as it dropped a whopping 91.51% of its value and currently trades at $0.07039.
GoWithMI
Closely following Olyseum is GoWithMI, which has shed 90.92% of its market value and currently trades at $0.0004647 with a meager trading volume of $178,350 in the last 24 hours.
MiniSwap
MiniSwap makes the list after falling by 86.92% to trade at $0.05275, with prices threatening to fall further to new lows.
Capital X Cell
This crypto trades at $0.07976 after prices dipped by a stunning 85.79%. Although prices have moved in a different direction within the last 24 hours, it still makes the list of underperformers because of that astronomical dip in value.