Given that the cryptocurrency market has been showing signs of approaching stability, in a resilient manner, some of the wins it has seen in the prior week have truly been impressive. Traders that had placed strategic bets on crypto-assets with strong prospects and positive momentum had gained tremendously. At the time of the writing of this issue, the following cryptocurrencies stand as being the largest winners of the week:
Top Weekly Crypto-Gainers
World Cup Inu
The most impressive growth trajectory of the week was seen in the rise of World Cup Inu (WCI) which took off without resistance from $0.0039 to as high as $0.0330 yesterday. This had translated to a price increase of a staggering 746%, taking the market as a whole by storm. In the hours that followed, however, WCI underwent a price correction that pushed its price down to $0.0232, leaving its weekly gains at over 490%. What is most remarkable is its daily trade volume, which is presently at $5.8 million. The hype surrounding this cryptocurrency seems to be linked to the football world cup in November, which is fast approaching.
Hello Art (HTT) remained inactive for most of the week at $0.0038, until just three days ago when it began an erratic rise to new heights. Its price trend shows volatile peaks and falls that had gradually been pushing it higher. Today it experienced a brief price explosion of over 600% to $0.028, which ultimately proved to be short-lived. In the minor crash following this correction, HTT is down to $0.014, putting its gains for the week at 260%, which, all considered, is highly impressive.
After peak interest surrounding its project, Phala Network (PHA) has been taking off high, more than tripling its price in the last week alone. In its rise from $0.081 to $0.271, the cryptocurrency has been seeing monstrous levels of trade volume, which surpassed the $1.25 billion mark on Sunday. Volume is now down to $500 million, but the hype surrounding Phala Network is as hot as ever. The gain in the last 24 hours alone stands at almost 50%.
Onston too has taken off extraordinarily during this week, jumping up from $0.012 to $0.049 in a single day earlier this week. This quadrupling in price was corrected after Onston began its slow descent which put it at $0.021 earlier today. This was not until a second price jump of 54%, that put the cryptocurrency up to its present price of $0.0366, translating to net weekly gains of 205%
Mdex (MDX) too has been climbing high, supported by colossal trade volumes that have led to a pump in price by its supporters. In the first half of the week, MDX rose from $0.083 to $0.231, in a price climb of 178% in a matter of days. This epic pump culminated in a trading volume of almost $430 million. The following days saw a descent to $0.13, and a fightback up to its present price of $0.211. Amid these rises and falls, MDX stands at a price that is 154% higher than where it was 7 days ago.
Top Weekly Crypto-Losers
Although the crypto-verse did see a number of major wins in the past week, there has been a fair share of substantial losses too, where investors have seen their holdings plummet in price. At the time of the writing of this Stocks Telegraph issue, the following cryptocurrencies delivered the largest losses in the last 7-days:
We start of the list of this week’s top losers with the youngest name out there, which is that of Paper DAO (PPR), which began trade as early as yesterday. Despite a volume rush of almost $4 million, PPR has experienced one of the hardest price plummets, which makes it among the week’s biggest losers. During its short time in circulation, it has fallen from $0.37 to $0.042, suggesting a value loss exceeding 88% in the red.
Fidance (FDC) continues its downward spiral, in its third consecutive week of being a top loser, shedding an additional 81% of its price. In fact, in the last 30 days alone, FDC has seen its price drop from $0.0015 to its present low of $0.0000009. The cryptocurrency continues its endless slip, with present trade volume at over $1 million. Fidance shows all the signs of a heavily unfavorable asset in the market, that everyone is eager to get rid of.
After a gradually steady rise for most of the prior week, LOGOS (LOG) fell unexpectedly hard earlier today, from $3.23 to as low as $0.23. This shocking plummet effectively erased all the gains LOG achieved in the prior weeks, and puts its weekly loss at 86% at present. The $5 million trade volume for the day indicates that the drop is not spontaneous, and seems to be a part of a wider, collective dump.
Probinex (PBX) also proved to be a shocker, after its nose-ward dive during the week, which has resulted in a substantial price loss. Those holding this cryptocurrency incurred a 90% unrealized price loss as PBX fell from $0.058 to its present price of $0.006. The price plummet seems to come after social media users began calling PBX a scam, after its delisting from the exchange, ProBit Global. Its volume too seems to be rapidly declining from above $2.2 million to below $1 million.
Bitcoin E-Wallet (BITWALLET) features once again as a top loser of the week, after making it on last week’s issue too. This time, the cryptocurrency fell by an additional 60%, making it seem as being part of a relentless free fall. BITWALLET is proving to be a value burner for investors, after having fallen from $32 to merely $0.39 in the last 30 days alone. Volume too seems to be falling fast, from its $12 million mark earlier this week to its present level beneath $1 million.