Hi 18digits, you’re welcome back. It’s delightful to see you again this week. This week’s edition is concise and, as always, insightful.
Will Bitcoin record a new low? Or will it give a buy signal? These are among the biggest questions hovering over the crypto space this week. Nothing has changed in the voting decision for the top 3 coins this week. However, changes were recorded for others in the top 18 list.
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.
How did the crypto market fare this week?
There’s nothing new about Bitcoin’s performance this week, and it’s been another story of decline. Bitcoin has dropped 13.6% in the last 14 days and recorded a 7.1% drop since the week began. This week’s high is $20,574.0, and its low is $19,508.0, lower than what was recorded last week.
No one is certain about Bitcoin’s next moveWhile some analysts think we may see a steeper decline in coming weeks, others think an upward move may be on the horizon.
The Altcoin Narrative
The rest of the cryptocurrency market followed Bitcoin’s lead as the majority of crypto assets also moved in the negative direction. Binance Coin (BNB), which ranks 5th based on market capitalization, saw a 7.9% drop. Ether (ETH) takes on the same journey with a 6.5% drop. Solana (SOL) and Dogecoin (DOGE) plunged by 11.3% last week. Polygon’s MATIC coin is a nonconformist to the bearish bias—it rose 8.7% last week.
18Digits Top 18 Voting Results:. Cosmos Swings into the leaderboard
The top three coins, respectively, Ethereum(ETH), Bitcoin (BTC), and Binance Coin (BSC), remain in their position. Asides from these three, some other coins maintained their rank. This includes Cardano (ADA), Litecoin(LTC), Polkadot(DOT), Pancake Swap(CAKE), and Stella (XLM).
Cosmos had the most move to the upside. It strode six places from 24th to 18th, a significant change which powers it into the top 18th list. Terra (LUNA) and Polygon (MATIC) moved two spots to rank 14th and 15th. TRON (TRX) moved two places to sit at 9th. Other coins that moved one position up are Avalanche (AVAX), Tether (USDT), XRP, Dogecoin (DOGE), Shiba Inu (SHIB), and Solana (SOL).
Biggest Winners & Losers: Dejitaru, Globiance Exchange, and others pump. ‘Coinbase Wrapped Staked ETH’ biggest loser
This week’s biggest winners are Dejitaru Tsuka, Globiance Exchange, and sLTC, respectively. Others on this list are SSV network and pToken LTC, which ranks 4th and 5th.
Coinbase Wrapped Staked ETH, Orbit Bridge Klaytn Ripple, Klaytn Dai, Powabit, and hiSAND33 found themselves on the losing side as they fell miserably in this week’s ranking.
That’s all for this week; we hope to bring you more delightful news in the coming weeks.Ciao!