Here is how some of your favorite assets concluded the week.
- Toncoin, Render, and Akash Network had the biggest gain in the past week. Core, Bonk, and Pendle were the biggest losers in the past week.
This week, Toncoin [TON] emerged as the top gainer, leading the charge among cryptocurrencies. Other notable gainers included AI and computing-related tokens, which also performed well in the market.
However, the charts indicated that the trend of meme coins has subsided, at least for now.
Bonk [BONK] was highlighted as one of the biggest losers over the past week, signaling a downturn for meme coins in the current market conditions.
Biggest winners
Toncoin
AMBCrypto’s analysis of Toncoin’s price movement revealed a steady climb throughout the week, starting at approximately $5.9 on the 5th of May and reaching around $6.8 by the 11th of May.
CoinMarketCap’s data indicated a 24.35% increase over the past seven days, positioning TON as the top gainer for the week. Toncoin surpassed $7 at one point before settling around $6.8 at week’s end.
As of this writing, TON was trading at around $6.9, boasting a market capitalization exceeding $24 billion.
However, its trading volume has decreased by over 60% and was around $267.5 million at the time of this writing.
Render
AMBCrypto’s look at Render’s [RNDR] chart showed a strong performance over the past week.
According to AMBCrypto’s assessment of the daily timeframe chart, RNDR started the week with a strong 10.28% surge, elevating its price from approximately $8.9 to $9.8.
Subsequently, on the 9th of May, it experienced another significant increase of over 9%, driving its price to around $10.85. Despite some declines during the week, its overall uptrends compensated for any losses.
Although it closed the week in the red, its price remained at around $10.9.
Source: TradingView
Also, CoinMarketCap data confirmed a notable 20.80% increase in the week for Render, making it the second-highest gainer.
Similar to TON, RNDR also witnessed a decline in trading volume over the past 24 hours, with a reduction of over 50%.
As of this writing, its volume was around $210.5 million, with a market capitalization of around $4.2 billion. However, it was trading at around $10.8 as of this writing, with around a 0.6% decline.
Akash Network
Akash Network [AKT] emerged as the third-largest gainer in the past week, boasting an impressive 18.33% increase, as reported by CoinMarketCap.
Analyzing AKT’s price trend revealed that it started the week trading at approximately $5. However, it experienced downturns on the 7th and the 8th of May, falling to as low as $4.2.
Nevertheless, the token rebounded on the 9th of May, concluding the week at around $5.7.
At press time, it traded within the $5.7 price range, with a market capitalization was around $1.3 billion, although it has declined by over 3% in the last 24 hours.
Additionally, its trading volume has decreased by over 50% during the same period, at around $122.3 million at press time.
Biggest losers
Core
Core [CORE] experienced a significant decline of 14.62% in the past week, placing it among the top losers, as indicated by data from CoinMarketCap.
CORE’s price trend revealed a challenging trajectory, with the token starting the week at approximately $1.9 and subsequently experiencing a steady decline. By the week’s end, its price had plummeted to around $1.5.
However, there are signs of a potential uptrend as of the current writing, with the token attempting to recover and trading at around $1.7.
Additionally, its market capitalization was around $1.5 billion at the current time, showcasing an almost 5% increase in the last 24 hours.
Despite this attempted recovery, Core’s trading volume has decreased by almost 5% in the last 24 hours, currently at around $66.7 million.
Bonk
Bonk, once considered a high-flying memecoin, has faced negative performance in the past week.
AMBCrypto’s examination of its daily timeframe price trend revealed a negative pattern resembling a declining staircase, indicative of a notable decline.
Source: TradingView
The week began with a stark decline of over 4%, with BONK trading at around $0.000026.
Subsequently, it witnessed three consecutive days of declines until experiencing a slight uptick on the 9th of May, where it saw an over 5% increase.
However, by the end of the week, its price had dropped to around $0.000022, marking it as the second-largest loser of the week with a decline of 14.44%, according to CoinMarketCap data.
As of press time, Bonk’s market capitalization was around $1.45 billion, representing a decrease of over 2%.
Additionally, its trading volume has decreased by over 50% to approximately $103.5 million, indicating reduced market activity.
Pendle
Pendle [PENDLE] experienced a downturn this week, emerging as the third-biggest loser according to CoinMarketCap data, with a 13.55% loss in value over the past week.
The price trend analysis revealed that the week started at around $5.0, with a brief surge to over $5.3 on the 6th of May.
However, from the 7th of May onward, the price began to decline steadily, ultimately settling around $4.3 by the week’s end.
At the time of writing, Pendle’s market capitalization had decreased by over 3% in the last 24 hours, standing at approximately $1 billion.
Furthermore, trading volume witnessed a nearly 50% decline within the same period, reaching around $25.7 million.
Conclusion
Here’s the weekly recap of the biggest gainers and losers. It’s crucial to bear in mind the volatile nature of the market, where prices can shift rapidly.
Thus, doing your own research (DYOR) before making any investment decisions is best.
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