Hello, 18Digits. It’s a pleasure to have you back for this week’s review.
In a monumental week that saw Ethereum (ETH) officially transition into the proof-of-stake system, Bitcoin regained 2nd spot this week after it shortly lost it to Binance Coin last week. Sweat Economy (SWEAT) also finished in the top 10 this week. These, and many more, you’d find in this week’s review.
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.
What happened in the crypto market this week?
Ethereum Merge is easily the biggest news this week. Ethereum finally announced the completion of the massive overhaul of its ecosystem known as the Merge on Thursday. The Ethereum blockchain has now moved to a vastly more energy-efficient system, Proof-of-stake, after years of development and delay.
In terms of price change, this week was not particularly great for crypto owners. Bitcoin rallied past $22,000 on Wednesday, only to fall sharply since then. As of this report, Bitcoin is a few hundred dollars shy of the $20k mark, indicating a close to 5% decline from last week’s figure.
Ethereum (ETH) dropped by over 14% from its price at the beginning of the week. However, with the Ethereum Merge, members of this community will not be too bothered by its slide this week.
Other major cryptocurrencies such as Binance Coin (BNB), Ripple (XRP), Cardano (ADA), Solana (SOL), and Dogecoin( DOGE) also suffered declines this week.
18Digits Top 18 Voting Results: Bitcoin (BTC) regains Second Spot, Sweat Economy (SWEAT) Eases into Top 10
After it dropped out of the Top 2 for the first time last week, Bitcoin (BTC) regained its spot this week. Ethereum is still number one. With the Ethereum Merge on Thursday, it may be long before we see any competition for its crown.
Solana (SOL) and Cardano (ADA ) maintained their positions as 4th and 5th, respectively. Polygon (MATIC) climbed two spots into 6th while Litecoin (LTC) is unchanged at 7th. Sweat Economy (SWEAT) is 9th as TRON completes the Top 10.
Polkadot( DOT) lost a spot and is now at 11th position, Ripple (XRP) is still at 12th, while Dogecoin lost two spots to drop to 13th. Terra(LUNA), Tether(USDT), Stellar (XLM), Avalanche (AVA), and PancakeSwap (CAKE) complete the Top 18.
Biggest Winners and Losers: Kaspa (KAS), Quickswap[OLD] Earns Voters’ Favors; SuperWalk (GRND), Kay Pacha (PACHA) Biggest Losers
Kaspa (KAS) is the biggest gainer this week. The token experienced a monumental shift from 17096th position last week to 386th this week. Quickswap [OLD] moved 16572 places to rank 989th while MANTRA (OM) climbed 16483 places to 491st. Neoxa (NEOX) and Grand Exchange (GP) complete the top 5 gainers list.
SuperWalk (GRND) had the poorest performance in this week’s polls as it lost 17268 places to rank 19822nd this week. Kay Pacha (PACHA), ChainSwap( ASAP), Galxe (GAL), and Stepped (SPEX) complete the top 5 losers list.
Vote for Your Favorite Cryptocurrency on 18Digits
As we draw the curtain for the week, don’t forget to vote for your favorite cryptocurrency next week. If you want to vote next week but don’t know how to go about it, you have to register here first to become a community member. You can also check out the rules here.
And it’s a wrap this week. See y’ll next Friday!