Weekly crypto market winners and losers
Recently, Fantom [FTM] experienced a downturn after being previously celebrated as one of the top performers, marking a significant shift in its market position.
On the flip side, Pepe [PEPE] emerged as this week's frontrunner, achieving several new all-time highs and dominating as the week's biggest gainer.
Leading Performers
Pepe [PEPE]
An examination by AMBCrypto of Pepe [PEPE]'s performance on a daily timeframe revealed an initial 3.98% dip to a value of approximately $0.00000916. However, the asset rebounded with a hefty 24.56% surge the following day, elevating its price to $0.00001141 and establishing a new record high. This uptrend persisted, culminating in another peak of $0.00001497 by the week's end after further appreciation of 5.80%. According to CoinMarketCap, PEPE's weekly rise tallied at 57.62%, securing its spot as this week's top gainer and the meme coin with the most substantial uplift. Presently, its trading value has advanced by over 1%, reaching nearly $0.000015, with its market capitalization surpassing $6.3 billion and a 24-hour trading volume exceeding $1.8 billion.
Uniswap [UNI]
Uniswap [UNI] showed notable activity, kicking off the week on a softer note and closing with a significant upward trajectory. Initiated at $7.70, its price vaulted past $9 by May 20th, concluding the week beyond $11. This progression secured it the runner-up position among the week’s significant climbers, boasting a 41.64% increase as reported by CoinMarketCap. Currently, it trades around $11.40, its market capitalization nearing $6.8 billion, having risen more than 5% in the last day.
Lido DAO [LDO]
Similar to Uniswap, Lido DAO [LDO] embarked on a promising climb, particularly noticeable on May 20th, advancing from an initial $1.70 to about $2.00, and wrapping up the week at approximately $2.40. This placed LDO as the third most substantial gainer, with its valuation elevating by 41% according to CoinMarketCap. Despite a more than 5% dip in market cap over the last day to about $2.2 billion and a halving of its trading volume to $154 million, it has presented noteworthy performance.
Top Decliners
Arweave [AR]
Arweave [AR] topped the list of this week's underperformers, retracting by 14.73% as cited by CoinMarketCap. Opening the week at around $48, it faltered to $46 the next day, with a gradual descent to $40 by week’s end. Presently, its slide continues, with a slight over 1% reduction in market cap to approximately $2.6 billion and a trading volume decline exceeding 30% to over $38 million.
Akash Network [AKT]
Akash Network [AKT] underwent a volatile week, descending from the $5.8 bracket to roughly $5.7, despite a transient uplift on the 21st of May to around $5.9. Ultimately, it dwindled to about $5.3 by the week's close, marking a 9.44% decrement and ranking it as the second most significant faller per CoinMarketCap. Akash's valuation hovers around $5.31, with its market cap slightly down by nearly 1% and a trading volume downfall of over 38% to around $9.1 million.
Fantom [FTM]
Fantom [FTM]'s trajectory was intriguing, having previously been amid the top earners only to see a reversal as detailed in a day-to-day price graph analysis. Following a brief ascent to about $0.90 after a 9.37% increase from an ingress point of $0.84, its valuation dipped to approximately $0.82 despite a slight over 2% gain. With an 8.16% dip over the week as noted by CoinMarketCap, it recorded the third most significant loss, trading near $0.81 with a marginal market cap drop to about $2.3 billion and a trading volume decrease of over 30% to more than $129 million.
Wrap-up
This week’s recap underscores the fluid and unpredictable dynamics of the cryptocurrency market, highlighting remarkable surges and declines. Hence, engaging in thorough personal research before any investment endeavors remains paramount.
