Ceek, KuCoin on the rise
Hello, 18Digits community! It’s nice to have you back. The market appears to be bearish this week after the US CPI release. We have the market analysis to fill you in on the details and keep you updated on market happenings. Let’s see how the market has been this week.
Before you continue reading, please be aware that this article is not intended to be financial advice. Before investing or hiring a professional, you should conduct your research.
The State Of The Market
The recent rise in the value of top coins was cut short this week as the crypto market witnessed a slight decrease in the value of Bitcoin (BTC) and Ethereum (ETH). This followed the release of the much-anticipated US Consumer Price Index (CPI) which turned out to be 9.1% YoY and exceeded the forecasted figure(8.8%). The big inflation figures expectedly affected the financial markets negatively. Bitcoin rose well above $22,000 last week, but it witnessed a decline this week. It went as low as $19,266, while the highest point was $20,809 in the early hours of Friday. Ethereum (ETH) however rose in price from $1096.45 to $1,210.
As of Tuesday, Dogecoin (DOGE) was at $0.059780, but it rose to $0.063787 on Friday. Solana (SOL) shot up from $32,680 to $38,050. Tether (USDT) however maintained its price.
Now let’s see how the community voted this week!
18Digits Top 18 Voting Results: SHIB drops off the chart
A notable change in this week’s voting results was Shiba Inu (SHIB) moving down the ranks from position 9th to 12th on the list and Ripple (XRP) moving up from position 10th to 8th.
Other changes include Ripple (XRP) moving up from position 10th to 8th, Polkadot (DOT) moving down from position 12th to 10th, and PancakeSwap (CAKE) and Tether (USDT) exchanging places and coming 14th and 15th respectively on the list. Tron (TRX) maintained its 11th position, and Dogecoin (DOGE) moved from 8th to 9th.
The top 7 coins; Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Solana (SOL), Cardano (ADA), Polygon (MATIC), and Litecoin (LTC), maintained their positions on the chart, respectively.
Biggest Winners & Losers: KuCoin (KCS), Ceek Smark VR(CEEK), others power high
There were notable changes in the chart this week. Ceek Smart VR (CEEK) gained places drastically as it moved up to 130th from the 11,033rd position. Freeway (FWT) came second on the gainers’ list by moving to 14,730 from position 18,508. The remaining tokens on the list were KuCoin (KCS), MBD Financial (MBD), and AAA chain (AAA), moving up by at least 1,746 places to complete the top 5 gainer’s list.
Litecoin USD (LTC-USD) sank down the list, dropping from 70th place to 19,245th place. ALTAVA (TAVA) dropped from 365 to 19,244, respectively. Wrapped coin (WCUBE) came third, dropping from 448th place to 19,243rd place, while Zenith finance (ZNT) and Menzy (MNZ) followed to complete the top 5 loser’s list.
Note: Every week, you can register to vote for your favorite cryptocurrencies on the 18Digits platform and get free tokens.