Skip to main content

As Bitcoin and Ethereum See Sharp Drops, 18 Crypto Assets Captured Double-Digit Gains Last Week

As Bitcoin and Ethereum See Sharp Drops, 18 Crypto Assets Captured Double-Digit Gains Last Week

While the crypto economy shed billions in value this week, 18 different digital assets have accrued double-digit gains during the last week. At the same time, the top two leading crypto assets by market capitalization, bitcoin and ethereum, have lost between 2.8% to 6.2% in value in seven days.

18 Crypto Assets See Values Increase by Double-Digits

Bitcoin (BTC) and ethereum (ETH) have lost a bit of value according to weekly statistics, and a number of alternative digital assets have done a whole lot better. Today, the crypto economy is worth $2.36 trillion and it is down 2.9% during the last day. BTC has shed 2.8% in value during the last seven days, and ETH has lost 6.2% since last week. However, 18 crypto tokens have accrued double-digit gains against the U.S. dollar this past week.

For instance, Sushiswap’s decentralized exchange (dex) token sushi (SUSHI) has gained 67% during the last seven days. Near (NEAR) jumped 57.8%, fantom (FTM) climbed 49.6%, and oasis network (ROSE) spiked 48% during the course of the week. Other top weekly gainers included convex finance (+35.7%), aave (+33%), theta network (+24.8%), uniswap (+19.2%), osmosis (+18.2%), kadena (+16.8%), iota (+15.8%), and the sandbox (+15%).

Bitcoin and Ethereum See Sharp Drops, Huobi Global Analyst Says ‘Pay Attention to the Changes in Price Direction’

Cosmos, polkadot, enjin, monero, celo and curve token also saw double digit gains this week as well. Out of the $2.36 trillion in value, across more than 12,000 crypto assets, BTC’s dominance is 38.3% while ethereum’s dominance is 19.1%. Discussing bitcoin (BTC) prices with Bitcoin.com News, the co-founder of Huobi Group, Du Jun, said that the price of bitcoin tends to stabilize and traders should “pay attention to the changes in price direction.”

“According to data from Huobi Global, BTC’s price stabilized during [the] daytime, after a sharp drop at night, fluctuating back and forth from $47,500, changing directions several times,” Huobi’s co-founder explained to our newsdesk. “From the 4h k-line, three EMA lines descended steeply, k-line was located near the lower rail of the Bollinger Bands, and the opening of the Bollinger Bands expanded significantly,” Jun added. The analyst further added:

Although the decline has been blocked, the short side is still relatively strong, especially seen from the daily line. This decline has caused the BTC price to fall again at a similar rate after a one-week price increase, and there is a trend of forming a downward channel again. Short-term upside is less likely. In short term, pay attention to the changes in the price direction and the support of the $45,500 position below.

While the values of bitcoin (BTC) and ethereum (ETH) have both seen declines, numerous alternative crypto assets are gaining on the dominant crypto markets. A recently published study indicates that altcoins have surged threefold since 2014, and 2021’s top ten performing crypto assets outshined BTC and ETH by a longshot in terms of gains. Despite the losses bitcoin (BTC) is still up 76.1% year-to-date (YTD) and ethereum’s YTD metrics indicate ether has gained 416%.

As far as ethereum (ETH) markets are concerned, Huobi Global’s Du Jun said that ethereum markets were very similar to BTC’s market patterns. “[The] price of ETH stabilized during daytime after a sharp drop at night, oscillating slightly back and forth, changing directions several times, echoing the BTC price trend, and it is now near $3,800,” Jun added on Wednesday. Jun’s ethereum (ETH) market outlook continued:

From the 4h k-line, the downward adjustment is strong and the momentum is relatively large. Each moving average descended steeply, and the trading volume increased. From [the] daily level, the downside trend is less obvious. In the short term, pay attention to the support of the 4680 position below. Once it breaks through, the price downward trend will be formed.

What do you think about the 18 crypto assets that have recorded double-digit gains this past week? What do you think about the two leading crypto market assets’ recent performance? Let us know what you think about this subject in the comments section below.



from Bitcoin News https://ift.tt/3Jp4Kdx

Comments

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m...

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought...

2021 Bitcoin Price Predictions: Analysts Forecast BTC Values Will Range Between Zero to $600K

As bitcoin has touched new price highs on Thursday nearing the $50k handle, people have been curious as to where the price will go in the future. Meanwhile, despite the gains so far, a number of luminaries, analysts, executives, and proponents from the crypto space believe the leading crypto asset will reach between $60k to six-digits this year. Mike Novogratz Predicts $100K Bitcoin: ‘Other CFOs and CEOs Are Saying, What Should We Be Doing?’ Satoshi Nakamoto’s invention has gained mass appeal in recent times as the leading digital asset bitcoin ( BTC ) has reached its highest value ever in 2021. On Thursday morning (EST), BTC spiked to an all-time high (ATH) at $48,697 per unit. Earlier in the morning at around 2 a.m., bitcoin was exchanging hands for $44,485 and saw an 8.98% increase since then. At the time of publication, at 6:30 p.m. (EST) on February 11, 2021, bitcoin (BTC) is swapping for $47,821 per coin. With BTC so close to the $50k mark, people have been forecasting ...