As a seasoned researcher with years of experience in following the cryptocurrency market, I have seen my fair share of ups and downs. But this past week has been particularly noteworthy. The total market capitalization has grown by over $150 billion, bringing it to a staggering $2.55 trillion.
Each week as it comes to a close, let’s explore some of the top-performing cryptocurrencies from the previous seven days.
The past week has been kind to the markets, resulting in a significant increase in their total capitalization to approximately $2.55 trillion, which is over $150 billion more than before. This growth can be attributed to strong performances across the board. Let’s begin by discussing Bitcoin.
Bitcoin Soars 11% in Impressive Recovery
Bitcoin may not have been the number one performer over the last week, but it certainly left an impression with a significant surge of 11%.
Based on my extensive experience in analyzing financial markets and trading cryptocurrencies, I have observed a remarkable trend in the price of Bitcoin (BTC) since July 14th. The chart below clearly illustrates this upward trajectory, with only occasional slight dips along the way. This surge in BTC’s value has been a significant development for those who have been following its market movements closely, and it represents an exciting opportunity for investors looking to capitalize on this trend.
Yesterday, the price made an attempt to reach the $68,000 mark but was unsuccessful due to the bears stepping in and halting the advance before it could happen. Currently, Bitcoin is experiencing a correction within the day, with its value hovering below $67,000.
Despite its impressive gains over the past week, this cryptocurrency has significantly influenced the overall crypto market mood, currently characterized as Greed. Its score of 74 represents a more than doubling increase from last week’s Fear level of 33.
Best Performing Cryptocurrencies
It’s a meme world. Four of the top 6 best performers in the last seven days are meme coins.
The meme with the highest growth, a 60% surge in the last week, is called POPCAT, featuring cat themes. Immediately after it is dogwifhat, which has experienced a 53% rise. Following closely are PEPE and FLOKI, both up by approximately 33.6% and 33.4%, respectively.
In between them are Arweave (AR) and Core (CORE), which are up 40% and 37%, respectively.
As a crypto investor, I’ve noticed some significant gains in my portfolio recently. Among them are INJ, BONK, JUP, RUNE, TAO, and Mantra’s OM. These cryptocurrencies have seen impressive growth of approximately 30%.
Nearly every cryptocurrency experienced gains over the past week, with the exceptions of UNI, AAVE, TRX, TON, ADA, and EGLD. Among these, UNI saw the most significant decrease, amounting to just a 5% loss. The other mentioned altcoins also showed minimal negative price adjustments.
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2024-07-21 10:52