With the crypto-markets now officially falling into dark territory, confidence in the wider market seems to be at a multi-month low. Despite these pessimistic and uncertain sentiments by traders and investors, a number of cryptocurrencies have still proven to be winners. At the time of the writing of this update, the following names stood tall as the biggest winners of this week:
Metanept (NEPT) was part of a rocketing climb this week, growing far more than any other cryptocurrency could conceivably achieve, especially in the present climate of uncertainty. NEPT, by yesterday, had exploded from $0.0084 to over $0.32, in a growth spurt amounting to over 3700%. Although this peak was somewhat corrected almost immediately, the gains for the week still stand at almost 850%. Momentum seems to be well-charged, with NEPT doubling itself in just the last 24 hours, and trade volume presently standing at $1.3 million.
Fidance (FDC) has been another name in the cryptoverse with a beyond-epic climb of over 730% since last week. FDC peaked for the week on Saturday, hitting $0.00234, at which point its gains stood at over 2000%. Ever since then, the cryptocurrency has been slowly falling, yet its climb remains incredible given the growth it has managed to retain post-correction. Its trade volume appears stable at present, at the $1.5 million mark.
Qatar 2022 Token
Qatar 2022 Token (FWC) has finally been seeing favorable action for the first time in at least six months, given an impressive take-off in an upward flight. FWC climbed by 300% in the last week, and 40% in the last 24 hours alone. This rush appears to hold momentum, which may very well continue to and through the FIFA world cup held in Qatar, in November this year. Trade volume at present remains somewhat modest at $1.7 million, yet this may very well surge as promotion and hype around the world cup ramps up across social media, as November approaches.
Viberate (VIB) has been seeing incredible hype in the market, with both bulls and bears battling it out, and influencing the cryptocurrency’s price. VIB has gained 160% in the last week alone, with present trade volume exceeding the $33 million mark. Despite these spectacular figures, the past few days have seen hype somewhat diminishing for the cryptocurrency, as at one point its gains stood at over 720% and volume at a whopping $527 million. Despite this, its present gains, even after the cooldown, still put Viberate among the week’s big winners.
LoopNetwork (LOOP) too has turned out to be a name in the crypto-verse with a weekly performance that is certainly worth mentioning. For most of the week, the LOOP cryptocurrency has been on a slow but steady climb, constantly pushing upwards from its starting point of $0.025. In the first 5 days, it succeeded in making it to $0.032, but it was not until Sunday that LOOP truly took off. Earlier this morning, LOOP hit its all-time high at a price of $0.071, pushing its weekly gain up to an impressive 184%.
Top Weekly Losers
Although, despite the bleak circumstances surrounding crypto-markets, a number of winners certainly emerged. However, the market as a whole produced a far larger amount of losers, with the crypto-verse generally seeing a trend of traders pulling out, rather than pouring cash into the market. The result, therefore, was some seriously disappointing crypto-trends. As of the writing of this Stocks Telegraph update, the week’s losers are as follows:
As many had already anticipated, following Ethereum’s merger with PoS, the biggest weekly loser was the ETHPoW. Interestingly, the cryptocurrency was off to a positive start during the week, climbing up from $30.71 to $60.68, almost doubling its price in just two days, till Thursday of last week. As the merge saw completion, however, ETHPoW saw a corrective plummet, which has it presently trading at $5.71, with a weekly loss of over 80%. With a trading volume of over $180 million, it seems apparent that sentiment surrounding this cryptocurrency remains overwhelmingly pessimistic.
ITSBLOC (ITSB) was an especially disappointing crypto player this week, primarily given its anti-climatic price trajectory. The cryptocurrency started off as a rising star, and many expected to make it to the list of big winners of the week. In just two days ITSB doubled its price from $0.36 to $0.72, and then took an instantaneous plummet, pushing it down to $0.12. The following days saw an attempt at a fightback, with its present price at $0.14, and its loss for the day and the week standing at 81% and 62% respectively.
hiODBS has been another disappointing name that was a big loser this week, falling spectacularly by 72%. This cryptocurrency initiated trade in the markets only last week, and the timing for this has been unfortunate, given some of the most bearish climates the wider crypto-sphere has seen this year. hiODBS initially climbed from $0.0190 to $0.0240 on its first day but has been falling ever since. At present, it is down to $0.0052, with its downward trajectory hardly showing signs of a slowdown.
Phoenix Global (PHB), after its spectacular performance throughout the prior month, climbing by over 470%, finally saw its hot spell dying down with its dismal performance in the last week. In the last 7 days alone, PHB fell from $2.36 down to $0.93, a loss which translates to almost 60%. With its $35 million trade volume for the day, it appears evident that holders are pulling out their capital from the cryptocurrency in large numbers. This comes in wake of the bearish conditions anticipated in the coming days and weeks.
AirDAO (AMB), also proved to end up in disappointment for those that were backing it, with its prices cut down to almost half in just the last seven days. Its descent from $0.042 to its present price of $0.021, indicates how the market seems wary of AirDAO. Based on the trends, it is likely that this selloff may very well cool off and attain stability, as trade volume has come down from $190 million, a week ago, to a mere $7 million at present.