In the middle of the Bitcoin bear market, these are the 5 best performing cryptocurrencies of the past week | Currency News | Financial and business news
Bitcoin and Ethereum
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- While Bitcoin and Ether dominate the headlines, there are more than 15,000 other crypto-coins.
- With less liquidity and more volatility, these alternative cryptocurrencies can bring massive losses or gains to investors in a short period of time.
- According to data from CoinMarketCap, these are the five best-performing cryptocurrencies of the past week.
Bitcoin’s lingering bear market has taken the life of many popular cryptocurrencies, with the total capitalization of the crypto market dropping from $ 3 trillion to $ 2.2 trillion in the last month. But other cryptocurrencies are doing well despite the switch to risk-off.
With 15,498 cryptocurrencies in existence, there are more than three times as many crypto coins as listed US stocks. This large amount makes it almost impossible to keep track of all of the big makers in the crypto sector outside of well-known coins like Bitcoin, Ether and Dogecoin.
The surge in new crypto coins came amid a massive bull market for the space in 2021, with a recent rally in Bitcoin helping to catapult the sector to a market valuation of nearly $ 3 trillion. But the surge is also being driven by smaller coins that have seen an exceptional surge this year, including Solana, Cardano and Shiba Inu.
With less liquidity and more volatility, these alternative cryptocurrencies can bring massive losses or gains to investors in a short period of time. Shiba Inu is down about 40% from its most recent high, despite increasing millions of percentage points since the start of the year. Meanwhile, the Octopus game token fell 99% in a single day after making quick gains of 75,000%.
Keeping an eye on the weekly winners can help investors figure out which coins are becoming increasingly prominent in the crypto community.
These are the five cryptocurrencies with a market value of more than $ 1 billion last week despite a decline in Bitcoin and Ether, according to data from CoinMarketCap.
Market value: $ 1.0 billion
7-day benefit: 1.9%
4. ONE BUT THE LION
Market value: $ 3.5 billion
7-day benefit: 3.4%
3. Huobi tokens
Market value: $ 1.6 billion
7-day performance: 4.5%
2. Bit torrent
Market value: $ 3.2 billion
7-day benefit: 4.6%
1. NEAR protocol
Market value: $ 5.4 billion
7-day benefit: 7.0%
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