Here is how some of your favorite assets concluded the week.
- Mog Coin, Akash Network, and Kaspa were the biggest winners of the past week. Pendle, Ethena, and Worldcoin had the biggest losses in the past week.
Pendle [PENDLE] could not replicate its previous performance this past week, finding itself on the opposite end of the ranking spectrum.
Instead, the title of the largest gainer of the week went to a cryptocurrency nearly outside the top 100 rankings.
This shift highlighted the volatility and rapid changes in fortune that can occur within the cryptocurrency market.
Biggest winners
Mog Coin [MOG]
Mog Coin [MOG] emerged as the top gainer of the week, according to data from CoinMarketCap. Over the past seven days, this significant uptrend catapulted it into the top 100 cryptocurrencies by market capitalization.
Specifically, MOG saw a remarkable increase of 48.84% during this period.
Starting the week on the 23rd of June at approximately $0.0000009, MOG initially displayed a downtrend.
However, it quickly reversed this trajectory and made significant gains throughout the rest of the week, closing at around $0.000001.
This positive movement was also reflected in its market capitalization, which surged to over $650 million, securing its position among the top 100 cryptocurrencies.
Despite a recent decline of over 4% in its market cap in the last 24 hours, MOG’s market capitalization remained at over $648 million.
Akash Network [AKT]
Akash Network [AKT] (AKT) emerged as the second-highest gainer of the week, with a notable increase of 20.96%, according to data from CoinMarketCap.
Despite this impressive weekly gain, AKT began the week on a downward note.
The price chart revealed that it started the week trading at around $3 but experienced a drop to approximately $2.7 the following day.
Nevertheless, it recovered strongly as the week progressed and closed at over $3.5 by the week’s end.
The market capitalization of Akash Network was over $872 million, though it experienced a slight decline in the last 24 hours.
Additionally, the trading volume of AKT decreased by over 29% during the same period, amounting to around $41.5 million.
Kaspa [KAS]
Kaspa [KAS] the token, not the ghost, experienced a slight decline at the start of the week. It dropped by 0.6% and traded at around $0.15 on the 23rd of June.
However, the token soon reversed its trajectory and began to rise, marking consecutive increases throughout the week.
By week’s end, KAS was trading at approximately $0.19, culminating in an overall weekly gain of more than 7%, which positioned it as the third-biggest gainer of the week.
Data from CoinMarketCap indicated a notable overall increase of 20.16% for Kaspa. Further technical analysis of its price trend suggested that Kaspa was currently in a strong bull market.
The Relative Strength Index (RSI) supported this analysis, indicating that the token was nearing the overbought zone, which reflected high buying pressure.
Source: TradingView
Kaspa’s market capitalization has also seen substantial growth, exceeding $4.5 billion, with a more than 6% increase in the last 24 hours alone.
Notably, it is the only asset among the top gainers of the week, with a market cap surpassing $1 billion. The trading volume for Kaspa has surged over 50% in the last 24 hours, reaching over $132 million.
Biggest losers
Pendle [PENDLE]
PENDLE experienced a tough week, emerging as the biggest loser of the week, per CoinMarketCap, with a significant decline of 19.80% over the past week.
The price trend for Pendle started on a high note on the 23rd of June, opening at over $6.
However, it quickly took a downturn, closing the day at around $5.6. This downward trend persisted throughout the week, with the price further dropping to approximately $4.9 by the week’s end.
Pendle’s market capitalization was over $769 million, though it has seen a decline of over 2% in the last 24 hours.
The trading volume for Pendle was almost $43 million, which also decreased significantly by over 40% in the last 24 hours.
Ethena [ENA]
Ethena [ENA] experienced a challenging week, marked by a steady decline in its value. The token began the week with a drop, closing the first day at approximately $0.56.
Despite attempts to stabilize, the decline persisted throughout the week, culminating in a closing price of around $0.49.
According to data from CoinMarketCap, Ethena’s value declined by 18.48% over the past week, positioning it as the second-highest loser in the market.
As of this writing, Ethena’s market capitalization was over $766 million, reflecting a decrease of more than 2% in the last 24 hours.
The trading volume has also seen a significant reduction, dropping by over 20% to approximately $49.5 million within the same period.
Worldcoin [WLD]
Wordcoin [WLD] has been on a downward trajectory over the past few weeks, with recent developments intensifying this decline.
AMBCrypto’s analysis of its daily time frame chart showed that it started the week with an over 4% decrease, trading at around $2.8.
This level, however, marked the high point for the week, as the price faced further significant drops. By the end of the week, Worldcoin was trading at approximately $2.5, marking another decline of over 4%.
Source: TradingView
According to data from CoinMarketCap, Wordcoin experienced a weekly decline of 16.86%, ranking it as the third-highest loser in the market.
The Relative Strength Index (RSI) was below 30 as of this writing. It indicated that WLD was not only in a strong bear trend but also in an oversold state.
This could suggest a potential for a price rebound if buyers perceive it as undervalued and decide to step in.
The market cap was around $660 million, having declined by over 5% in the last 24 hours. Additionally, the trading volume has also decreased, falling by over 11% to more than $126 million in the same period.
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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