A look at the best-performing cryptocurrencies over the past week, with notable gains in Bitcoin and several meme coins.
Points
- Bitcoin surged 11% over the past week, impacting overall market sentiment.
- Meme coins like POPCAT, dogwifhat, PEPE, and FLOKI saw significant gains.
- The total cryptocurrency market capitalization grew by $150 billion.
As yet another week passes, we will examine some of the best-performing cryptocurrencies over the past seven days. It’s safe to say that the week has treated the markets well, with the total capitalization growing to $2.55 trillion, adding over $150 billion. This comes on the back of impressive performances on all fronts, so let’s first start with Bitcoin.
Bitcoin Soars 11% in Impressive Recovery
Despite not being the top performer, Bitcoin surely made waves in the past seven days, surging by a whopping 11% in the process. As you can see in the chart below, it’s been mostly up only since July 14th, when the BTC price took off.
The price tried to claim the $68K level yesterday but was unable to do so as the bears stopped the rally preemptively. BTC is now found in an intraday correction, trading below $67K.
Nevertheless, its impressive performance throughout the week has also had an impact on the broader crypto market sentiment, which is currently in a state of Greed. With a score of 74, it’s up more than 100% compared to last week, when it was in a state of fear with a score 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.
Claiming the first spot with a 60% increase in the past week is the cat-themed meme POPCAT. Right after it, we have dogwifhat. WIF is up 53% over the same period, followed by PEPE with 33.6%, and FLOKI with 33.4%.
In between them are Arweave （AR） and Core （CORE）, which are up 40% and 37%, respectively.
Other noteworthy mentions, which increased by around 30% include INJ, BONK, JUP, RUNE, TAO, and Mantra’s OM.
As a matter of fact, almost all cryptocurrencies managed to chart an increase during the week with the exception of UNI, AAVE, TRX, TON, ADA, and EGLD. These are the only altcoins in the red, but they haven’t lost that much. UNI is the worst performer and it’s only down 5%.
解説
- Market Sentiment: The overall increase in cryptocurrency market capitalization by $150 billion indicates positive market sentiment. Bitcoin’s significant gains have influenced broader market optimism.
- Meme Coins’ Popularity: The strong performance of meme coins like POPCAT, dogwifhat, PEPE, and FLOKI underscores the continued interest and speculation in this category. Their high volatility and community-driven momentum can lead to rapid price movements.
- Performance Metrics: Tracking the best-performing cryptocurrencies provides insights into market trends and investor behavior. Identifying top gainers helps understand which assets are currently favored by the market and potential factors driving their performance.