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    Cryptocurrency Weekly Gainers and Losers

    By Wasim Omar

    Nov 01,2022

    9:02 AM UTC

    In the wake of improving conditions, bulls within the market have been rallying certain cryptocurrencies like they had not been in several weeks. A number of crypto-names, therefore, come up, as winners, in terms of both their price gain and momentum. At the time of writing this issue, the following cryptocurrencies have delivered the largest gains throughout the week:

    Top Weekly Gainers

    Maya Preferred

    Maya Preferred (MAYP) has been the star of this week after its sudden price bursts up from below $84,000 to nearly $555,000 in an almost instantaneous manner. The cryptocurrency has been seeing wide support in social media for its solid reputation of never having its currency diluted, with no insiders having sold a single MAYP since 2018, and the offer of a robust retirement plan for investors. Volume has remained stable at around $2 million throughout the week. The net gain by the end of the week stands at 644%.

    3X Long Dogecoin Token

    3X Long Dogecoin Token (DOGEBULL), as an associate of the infamous meme favorite, Dogecoin, has been performing spectacularly this week. The token rose from $0.019 to as high as $0.136 in only seven days, translating to a gain of 615%. The doge class of assets has been rising ever since Elon Musk’s closure of the Twitter acquisition deal. Given the billionaire’s open support for Doge, these asset prices act as a proxy for sentiment surrounding Musk.

    DRAC Network

    DRAC Network has also been a clear winner this week, after its persistent bullish climb from $0.0071 to its present price of $0.0459. The cryptocurrency has barely been a month in circulation and is seeing wide support after a number of milestone updates. Earlier this week DRAC tokens were listed on Swft bridge, resulting in a wave of interest in the market. Last night, BitMart also announced DRAC deposit and withdrawal on its platform. As a result, DRAC price undertook a 572% climb in hardly a seven-day window.

    MarsDAO

    MarsDAO (MDAO) undertook an epic climb during the week, rising from $0.11 to $0.39. This price trajectory amounts to a 254% rise, as MDAO more than tripled its price in just a week. MDAO stands as being highly popular among Russian crypto-traders, and this upward price drive seems to link to a pump among these market participants. Volume has surged from $300,000 to over $1.7 million, in the last 24 hours alone.

    Melody

    Melody (SGS) began trading in the market a week ago and has seen a steady and persistent price rise during this time. Its trade volume has been stable at the $1 million mark. SGS has almost tripled its price in the last seven days as it climbed from $1.50 to $4.42. The music-oriented project is garnering the attention of many in the market, given its innovative concept of a combined GameFi and SocialFi in a Web3 App. It also features NFT passports and in-game token earnings.

    Top Weekly Losers

    Although certain cryptocurrencies have taken on phenomenal climbs during the week, others have delivered considerable losses. This was primarily caused by market participants shifting their stakes and pulling out of weaker positions for stronger ones. At the time of writing this Stocks Telegraph article, the following names stand as the top losers for the week:

    UniWSwap

    UniWSwap (UNIW) underwent a painfully hard plummet earlier this week which saw its price drop from $199 to its present low of $1.15. This drop came abruptly when UNIW trading volume had made a jump from zero to $95 million, in an instantaneous manner. The cryptocurrency has been in circulation for barely two weeks, and hence this early correction has set a new price baseline for UNIW.

    UvToken

    UvToken (UVT) had started off the week successfully, climbing from $0.38 to over $0.46 in the first two days. After this, as volume surged to almost $6 million, everything began going wrong for UVT, as a mass selloff ensued, with its price being driven down to $0.0039. The signs of a fightback had been evident when volume peaked at over $12 million, and the cryptocurrency price was pushed up to $0.043, however, this could not be sustained. UVT climbed by 30% in the last 24 hours, however, its net movement for the last week still stands at a negative 98.5%. 

    Mancium

    Mancium (MANC) also underwent a hard fall this week, which saw its price drop down from $5 to $1.15. The news comes as a major surprise, especially when considering the fact that just this week, the project announced a strategic partnership with GEM Digital Limited, which invested a sum of $50 million into it. Analysts point out that Mancium may have been heavily overbought prior to this, and the news triggered a price correction. Supporters however seem to call this a wonderful opportunity to buy the dip before its inevitable rise to the top.

    TitanSwap

    Titan Swap (TITAN) has been on a downward path going back to mid-August, this year. During this time, the steepness of its fall has varied, with its sharpest drop being seen in the first half of October when it slipped from $1 to $0.43. The last week brought in a steady fall, dropping TITAN by a further 67%, bringing its price to $0.089. It is worth pointing out that TITAN is presently trading at an all-time low, since its market entry in September 2020. Its volume presently stands above $10 million, suggesting that the fall may continue its deep dive considerably.

    Plato Farm

    Plato Farm (PLATO) proved to be another losing cryptocurrency of the week, given its 66% descent from $0.00036 to $0.00013. The cryptocurrency has had a poor reputation in the market since its launch in late April this year and has been on a declining trend ever since. Back then, PLATO stood at a price of $0.043 and has continuously been digging deeper to new lows.

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