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These are the 5 best performing cryptocurrencies of the past week amid the Bitcoin bear market | Currency News | Financial and business news

A visual representation of the digital cryptocurrencies

  • While Bitcoin and Ethereum dominate the headlines, there are more than 16,000 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 bear market has drained the life of many popular cryptocurrencies, with the total capitalization of the crypto market dropping from $ 3 trillion to just under $ 2 trillion on Friday. But other cryptocurrencies are doing well despite the move to a largely risk-free environment.

With 16,515 existing cryptocurrencies, there are more than three times as many crypto coins as listed US stocks. This huge supply makes it almost impossible to keep track of all the big makers in the crypto sector outside of well-known coins like Bitcoin, Ether and Dogecoin.

The spike in new crypto coins came amid a massive bull market for the sector in 2021, but a 40% decline in Bitcoin from its November high presents the market with a challenge, especially for smaller coins that have seen exceptional gains over the past year listed as Solana, Cardano, and Polkadot.

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 65% from its recent high but is still up sharply over the past 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 top five performing cryptocurrencies with a market value of more than $ 1 billion in the past week, according to data from CoinMarketCap.

5. Internet computers

Symbol: ICP
Market value: $ 5.7 billion
7-day performance: 16.0%

ICP price

4. Phantom

Symbol: FTM
Market value: $ 6.9 billion
7-day performance: 17.6%

Fantom diagram

3rd chain link

Symbol: LINK
Market value: $ 11.6 billion
7-day output: 23.3%

Chain link price

2. Harmony

Symbol: ONE
Market value: $ 3.6 billion
7-day performance: 30.2%

Harmony award

1. Cosmos

Symbol: ATOM
Market value: $ 9.7 billion
7-day performance: 34.9%

Kosmos Prize

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