Hello, 18digits community; it’s yet another week, and we welcome you back. The crypto market hasn’t given an explicit signal yet, and many believe the crypto winter might extend a bit further into the end of the year. Despite this, many voters upheld their last week’s sentiments by keeping the Top 6 coins intact.
However strong the voter’s sentiments were, there were noticeable changes. We will give you a review of these changes.
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.
State of The Market
The crypto market giant, Bitcoin (BTC), alongside most cryptocurrencies, has declined due to the market turbulence. It was visible in the cryptocurrency market capitalization, which fell by over 5%.
Bitcoin came across as bullish with a high of $25,212 earlier this week but couldn’t hold the pace as it dipped by 8.8%, causing it to trade at a low of $21,404. Ethereum didn’t perform any better as it reached a low of $1,724.70 and saw a 7.49% drop.
5-day(15-19/8/22)chart of BTC/USD from Tradingview.com
Notable Altcoins didn’t perform any better in the market as well. Solana (SOL) and Cardano (ADA) didn’t have a sprint; both fell by 13.9% and 10.4%, respectively, this week. Dogecoin (DOGE), regardless of the storm, didn’t drop more than 0.5% during the week. XRP clenched to the market turbulence and fell by 9.1%.
18Digits Top 18 Voting Results: Stella’s (XLM) charm is up, claiming 14th position on the chart.
There is a similarity in the results from this week’s vote as it was last week. The top 6 coins kept their spot. Ethereum (ETH) led the group as number one. Bitcoin (BTC) and Binance Smart Coin (BSC) held their stance on the chart as numbers two and three. Solana (SOL), Cardano (ADA) and Polygon (MATIC) sat in 4th, 5th and 6th positions in the chart.
Pancake swap went down two spots to rank at 16th position. Terra (Luna), Tether (USDT) and Litecoin (LTC) dropped by one place to rank 17th, 14th and 7th position, respectively.
Stella (XLM), previously in 17th position, rose by four places and ranked number 13 in this week’s concluding result. Shiba Inu has also maintained its charm, reaching the 7th position.
Biggest Winners & Losers: Huobi, CurveDao, and others Geared up.
This week came with a couple of outliers who had a good impression on the community and got voted up. Huobi leads the race with a 16,024 place change, causing it to rank 2,681 on the table of top gainers. Curve DAO is on a winning streak! It was amongst last week’s top gainers and now stands firm in 493rd position. Kiradoge coin, Solomon Defi, and TempleDAO concluded the list of the top gainers, each moving tens of thousands in place.
Despite being a good week for specific cryptocurrencies, the gratitude wasn’t extended to others. WEI, TPRO, and Curve.fi DAI/USD had been voted down by exactly 16,841 places, causing them to rank 19,498th, 19,499th, and 19,500th positions.
MUX Protocol and Redacted Cartel [OLD] made the list of the week’s top 5 losers and retained the 4th and 5th positions.Note: Every week, you can register to vote for your favourite cryptocurrencies on the 18Digits platform and get free tokens
