This week, while bitcoin and ethereum decelerated, they still managed a modest uptick of 2-3% against the U.S. dollar. Meanwhile, a roster of around 50 cryptocurrencies recorded double to triple-digit gains during the same seven-day span. In the race of gains from Saturday, October 28, to Saturday, November 4, 2023, the cryptocurrencies ARK, SNT, and SUSHI emerged as frontrunners.
Market Watch: ARK Leads as FLOKI Falters in Weekly Crypto Shuffle
Within this dynamic market, a collection of 50 cryptocurrencies notched impressive gains ranging from 12% to a striking 168% when pitted against the U.S. dollar. Concurrently, a different group of 30 tokens experienced a pullback, recording losses from a negligible 0.01% to a significant dip of over 15% throughout the last week.
This week’s standout, ARK token, soared to a notable 168% surge when measured against the U.S. dollar. ARK, which ranks 147th in market capitalization, witnessed a substantial 23.2% upswing in just the past day.
Hot on its heels, the status (SNT) token clinched the week’s runner-up spot for gains, climbing 118% against the dollar. Carving out the third position for weekly ascents, sushi (SUSHI) experienced a 72% rise this week.
Among the week’s circle of high performers, ARK and SNT were distinguished as the sole triple-digit gainers within the group of 50. Cementing their status, wemix (WEMIX) and pancakeswap (CAKE) rounded out the top five, with their gains stacking up to 51.4% and 50.36%, respectively.
Rounding out the top ten, the crypto tokens SURE, ONG, POLY, RUNE, and ROSE, boasted gains ranging from 32% to a robust 49%. Not to be outdone, tokens ZRX, XEM, AAVE, XRP, and SSV claimed spots 45 through 50, with their gains ticking between 12% and 13%.
On the flip side, the meme token floki (FLOKI) topped the charts as the week’s most significant decliner against the greenback, plummeting by 15.76%. Close behind was baby doge coin (BABYDOGE), which saw a decrease of 14.04%.
OMI registered a 12.9% loss, closely followed by PEPE’s 9.4% fall. The fifth-largest backslide belonged to the Shiba Inu project’s BONE, dipping 9.2% over the week.
Other tokens that felt the sting of decline included QNT, MKR, FTT, ANT, and LUNA (2.0), all rounding out the top ten losers over seven days. The current valuation of the crypto economy sails at $1.3 trillion, marking a 1.88% increase in the last 24 hours.
Though the trade volume hovered around $35.59 billion over the past day, it has tumbled by 24% since yesterday. In the dominance stakes, bitcoin (BTC) claims a 52.3% market share while ethereum (ETH) holds 17%.
What do you think about the week’s biggest gainers and losers in the world of crypto trading? Share your thoughts and opinions about this subject in the comments section below.