This week, the crypto economy lost billions of dollars, but last week, 18 different digital assets made double-digit profits. At the same time, Bitcoin and Ethereum, the top two major crypto assets by market capitalization, lost 2.8% to 6.2% in value in seven days.
18 Cryptocurrency sees value increase by double digits
According to weekly statistics, Bitcoin (BTC) and Ethereum (ETH) have lost a bit of value, and many alternative digital assets are much better. Today, the crypto economy is worth $ 2.36 trillion, down 2.9% on the final day. BTC has lost 2.8% in the last 7 days and ETH has lost 6.2% since last week. However, last week, 18 crypto tokens made double-digit profits against the US dollar.
For example, Sushiswap’s Decentralized Exchange (dex) Token Sushi (SUSHI) has increased by 67% over the last 7 days. NEAR surged 57.8%, Phantom (FTM) surged 49.6%, and Oasis Network (ROSE) surged 48% in a week. Other top weekly winners include Convex Finance (+ 35.7%), Avenue (+ 33%), Theta Network (+ 24.8%), Uniswap (+ 19.2%), Penetration (+ 18.2%), and Cadena. (+ 16.8%), Iota is included. (+ 15.8%), and sandbox (+ 15%).
Bitcoin and Ethereum see plunge, Huobi global analyst says “watch out for price changes”
Cosmos, polkadot, enjin, monero, celo and curve token also showed double-digit growth this week. Of the $ 2.36 trillion value of all over 12,000 crypto assets, BTC has an advantage of 38.3% and Ethereum has an advantage of 19.1%. Discuss Bitcoin (BTC) pricing with Huobi Group co-founder Bitcoin.com News Dujun, Bitcoin prices tend to be stable, and traders said, “We need to pay attention to changes in price direction.”
“According to Huobi Global data, the price of BTC is [the] After a plunge during the day and at night, it fluctuated back and forth from $ 47,500 and changed direction several times, “Huobi co-founder explained to the news desk. “From the four-hour k-line, three EMA lines plummeted, the k-line was near the bottom rail of the Bollinger band, and the Bollinger band’s opening widened significantly,” Jun added. The analyst added:
The decline was stopped, but the short side is still relatively strong, especially from the daily newspaper. Due to this decline, BTC prices tend to fall again at a similar rate after a week-long rise, forming a down channel again. The chances of a short-term rise are low. In the short term, be aware of price changes and support for the $ 45,500 position below.
While the value of both Bitcoin (BTC) and Ethereum (ETH) is declining, a large number of alternative crypto assets are gaining in the dominant crypto market. According to a recently published study, altcoin has tripled since 2014, and the top 10 performing crypto assets in 2021 far outperform BTC and ETH in terms of profits. Despite the loss, Bitcoin (BTC) has increased by 76.1% year-to-date (YTD), and Ethereum’s YTD metric shows that Ethereum has increased by 416%.
As far as the Ethereum (ETH) market is concerned, DuJun of Huobi Global said that the Ethereum market is very similar to the BTC market pattern. “”[The] ETH prices have stabilized during the day after a sharp drop at night, oscillated slightly back and forth, turned several times, reflecting BTC’s price trends and are now close to $ 3,800. ” Jun added on Wednesday. Jun’s Ethereum (ETH) market outlook continued:
From 4h k-line, the downward adjustment is strong and the momentum is relatively large. Each moving average fell sharply and trading volume increased.from [the] At the daily level, the downtrend is less obvious. In the short term, please note the support for the following 4680 positions. When it breaks through, a downward trend in prices is formed.
What do you think of the 18 crypto assets that recorded double-digit profits last week? What do you think of the recent performance of the two major crypto market assets? Please let us know what you think about this subject in the comments section below.
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