Over the past week, both bitcoin and ethereum saw slight decreases in value when compared to the U.S. dollar. Bitcoin declined by 1.8%, while ethereum experienced a 3.6% drop. However, amidst these declines, several other cryptocurrencies showcased impressive double-digit growth, with internet computer (ICP), helium (HNT), bonk (BONK), and woo network (WOO) leading the surge.
16 Crypto Assets Record Double-Digit Gains, 8 Witness Double-Digit Losses
Starting on Monday, Dec. 18, 2023, the total value of the crypto market stood at $1.61 trillion, marking a slight decrease of 1.9% from the previous day. As the holiday season approaches, global trading volumes have dipped. However, in the past 24 hours, a notable $76.24 billion was traded, representing a significant 30% increase from the day before.
Throughout the week, internet computer (ICP) emerged as the top performer, soaring by an impressive 85.5%. Helium (HNT) also experienced a remarkable rise of 68.9%, while bonk (BONK) escalated by 68%. Additionally, woo network (WOO) appreciated by 57.1% against the dollar. Out of the more than 11,000 cryptocurrencies listed, 16 experienced double-digit growth during this week.
Other notable performers this week included OSMO, INJ, ASTR, FET, TKX, STX, TIA, BGB, and GT. Apart from bitcoin and ethereum, XRP, SOL, and AVAX also had significant trading volumes. However, XRP experienced a 4.4% decline over the week, while SOL increased by 3.1% and AVAX surged by over 10%. Other high-volume traders, such as DOGE, BNB, LINK, and ADA, also remained in the spotlight.
On the flip side, synthetix network (SNX) emerged as the biggest loser of the week, declining by 21.1%. BTT fell by 16.7%, LUNC by 15.9%, and KAS by 13.9% over the same period. In total, eight cryptocurrencies registered double-digit losses, with MINA, XEC, EGLD, and LDO among the notable decliners.
As the year comes to a close, market uncertainty continues to be a prevalent theme, especially in the altcoin sector. Historically, the holiday season often witnesses a stagnation in crypto trade volumes, as investors exercise caution amidst festivities and year-end reflections. This period typically sees flat trading activity, highlighting the prevailing cautious sentiment in the market during the final weeks of the year.
What are your thoughts on the biggest gainers and losers in the crypto market this week? Share your opinions in the comments section below.
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By: Jamie Redman
Title: Bitcoin and Ethereum Experience Modest Declines, While 16 Crypto Assets Record Double-Digit Gains
Sourced From: news.bitcoin.com/market-week-in-review-cryptos-highs-and-lows-with-icp-and-snx-leading-the-charge-and-retreat/
Published Date: Mon, 18 Dec 2023 16:30:25 +0000
