Skip to main content

Weekly Market Recap: Crypto Economy Surges to $1.4T as FTT and ORDI Outshine the Rest

Weekly Market Recap: Crypto Economy Surges to $1.4T as FTT and ORDI Outshine the Rest

This week, the crypto economy climbed to the $1.4 trillion range as dozens of virtual assets witnessed gains. From November 4 to Saturday, November 11, 2023, several crypto assets recorded triple-digit weekly gains, and a great deal captured double-digit gains. This week, the top two gainers include FTT and ORDI, as they jumped 291% and 158% against the U.S. dollar, respectively.

Surge and Decline: The Dual Faces of This Week’s $1.4 Trillion Crypto Market

As of this report, the crypto economy boasts a valuation of $1.4 trillion, with $85.36 billion traded in the past 24 hours on Saturday. In the span of the preceding week, bitcoin (BTC) appreciated by 6.5%, while ethereum (ETH) posted an 11.8% increase.

This week, a significant number of digital currencies outpaced the two leading coins’ growth figures, although 15 of the top 200 cryptos by market cap experienced declines during the same period.

The week’s most impressive performer was ftx token (FTT), soaring 291% against the U.S. dollar, in spite of its association with a defunct exchange and its minimal, concentrated ownership — further marred by the FTX founder’s fraud conviction.

Following FTT, ordinals (ORDI) secured the spot as the second-largest climber, surging 158%. ORDI, a BRC20 token that operates on the Bitcoin network, shares the same supply limitation. The Kujira Network’s token, kujira (KUJI), captured third place in gains, escalating by 141% over the week.

Terra’s luna (LUNA 2.0) token claimed the title of the fourth-largest gainer this week, witnessing a 68% ascent against the dollar. In close pursuit, storj (STORJ) secured the fifth position with a 67% rise.

The week also spotlighted other significant climbers, including kaspa (KAS), cronos (CRO), and illuvium (ILV). However, not all cryptocurrencies enjoyed upward momentum; status (SNT) emerged as the week’s biggest decliner, dropping 27.97%. Following SNT’s downward trail were tellor (TRB) and polymath (POLY), which fell 22.39% and 13.21%, respectively.

In a week of dramatic swings, the crypto market displayed its characteristic volatility, with select tokens surging significantly and others faltering. This dynamic reflects the ever-evolving and precarious landscape of the crypto economy, underscoring the high-stakes environment in which crypto traders operate.

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.



from Bitcoin News https://ift.tt/7rSUkKD
Labels:

Comments

Post a Comment

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...
10 comments
Read more

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...
Post a Comment
Read more

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 ...
Post a Comment
Read more