Across the Board, the Crypto Market Declined Last Week, but SMO, ATOM, FTM, and other Cryptos Rose.
Prices of bitcoin dropped below $44K late on Wednesday, January 5. However, some crypto assets are doing well despite the crypto economic downturn, despite other coins losing value overnight.
This Week’s Double-Digit Crypto Gainers
At the time of writing, the crypto economy is down more than 7% to a low of $2.16 trillion on Thursday, January 6, 2022. The price of bitcoin (BTC) has lost 7% this week as well as it dropped below the $44K zone from the $46K region where it sat 24 hours prior. BTC’s current 24-hour range is between $46,901 per unit and a low of $42,466 per unit.
Other top crypto assets have shed significant value as well as ethereum (ETH) is down more than 10%, binance coin (BNB) has lost over 8%, and solana (SOL) has dipped more than 11% in USD value. Weekly metrics were recorded on January 6, 2022, at 9:45 a.m. (EST).
Despite the major drawdown across most of the 12,000 crypto assets in existence, a number of digital coins have seen double-digit seven-day gains against the U.S. dollar. For instance, osmosis (OSMO) is up 41.3% this week, and cosmos (ATOM) has jumped 34.9%. Those two tokens are followed by fantom (FTM) (+32.5%), ravencoin (RVN) (+27.7%), and internet computer (ICP) (+25.9%).
MIOTA, SPELL, SUSHI, KDA See Double-Digit Losses This Week
Harmony (ONE) jumped 25.7% this past week, chainlink (LINK) is up 23.5%, and yearn finance (YFI) has increased 23.3% in seven days. In addition to the aforementioned gainers, celo, curve, mina protocol, near, klaytn, thorchain, stellar, helium, kucoin token, bittorrent, and oasis are still up this week with 1% gains or higher. The biggest loser during the last seven days was iota (MIOTA) as the crypto asset shed 19.5% in value.
MIOTA is followed by spell token (SPELL) (-18.8%), sushi (SUSHI) (-18.5%), and kadena (KDA) (-16.7%). At the time of writing, more than a dozen stablecoins are the only tokens that managed to stave off the 24-hour slide due to their fiat pegs, and all of them command roughly $98.2 billion in global trade volume. Statistics show that 61.95% of all the trades on January 6 are against the myriad of stablecoin crypto assets.
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