Skip to main content

Swarm of Alternative Crypto Assets Outpace Bitcoin’s Gains by Double Digits This Week

After the price of bitcoin tapped an all-time high above the $67K handle, it then dropped below the $60K zone to $59,510 per unit. Since then, the leading crypto asset has regained some of the losses and bitcoin is still up 2.4% during the last seven days. However, a great number of crypto assets have outperformed bitcoin’s weekly rise, capturing double-digit gains as high as 65.1%.

Thorchain, Nexo, Near, Okb, Shiba Inu, Safemoon Values Spike

Digital currency markets are on the move again as the $2.733 trillion market valuation of all 10,000+ crypto assets is up 4.6% on Monday. BTC has jumped a bit higher during the latter half of Sunday’s trading sessions into Monday and BTC has gained 2.4% this past week. But there’s over 55 different digital assets that have outperformed BTC’s weekly gains.

The top seven-day gainer this week is thorchain (RUNE) which has jumped a whopping 65.1% this past week. The crypto asset thorchain has a $3.3 billion market capitalization and $208 million in trade volume on Monday. Nexo (NEXO) spiked 61.6% during the last week and has a market cap of around $1.5 billion.

Nexo is followed by okb’s (OKB) gains which have jumped 61.5% this week and near’s (NEAR) value rise of 56.1%. Shiba inu suffered some losses after Elon Musk said he didn’t own any SHIB but the meme-currency did gather 53.2% in gains this week. Harmony (ONE) did well this past week obtaining 47.5% and safemoon (SAFEMOON) lifted 45.8%.

Ethereum Gains 9% Pushing Market Dominance to 18.2%

As far as the top ten crypto are concerned, ethereum (ETH) has risen 9.4%, binance coin (BNB) spiked 3.4%, solana (SOL) is up 33%, polkadot (DOT) up 5.7%, and dogecoin (DOGE) jumped 10.7%. With a $2.733 trillion market valuation, all the digital assets today have seen around $125 billion in global trade volume.

Ethereum’s 9.4% gain has cushioned ether’s dominance level this week as it has tapped 18.2% on Monday. Bitcoin’s dominance level has dropped a couple of percentages from over 45% to 43.5% on Monday afternoon.

Furthermore, binance coin (BNB) has a market cap dominance of around 3.09%, the stablecoin tether (USDT) commands 2.72%, cardano (ADA) 2.71%, and solana (SOL) 2.43% in terms of market dominance among the 10,000+ crypto assets.

What do you think about the crypto market performers this past week? Let us know what you think about this subject in the comments section below.



from Bitcoin News https://ift.tt/2Zqha2o
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more