In the span from Jan. 29 to Feb. 5, 2024, while bitcoin and ethereum have remained stagnant within their trading ranges, a selection of cryptocurrencies have enjoyed significant weekly upsurges, registering double-digit gains against the U.S. dollar. Specifically, flare, chainlink, and bittensor emerged as frontrunners, boasting increases from 19.2% to an impressive 39.7%. Conversely, manta network, conflux, and injective experienced downturns ranging from 17.1% to 27.2%.
Crypto’s Top Performers and Underachievers, Jan. 29 to Feb. 5
Currently, the crypto market, with its thousands of assets spread across over 700 unique digital currency exchanges, holds a valuation of $1.63 trillion, having experienced a slight dip of 0.75% in the last 24 hours. Within this vast economy, bitcoin (BTC) claims a dominant 51.1% of the total market value, while ethereum (ETH) secures 16.9%.
Flare (FLR) against the U.S. dollar on Feb. 5, 2024.
Despite their leading positions, BTC and ETH have displayed minimal excitement this week, with their values fluctuating within tight ranges. Nonetheless, a notable seven cryptocurrencies have achieved double-digit gains against the dollar.
Chainlink (LINK) against the U.S. dollar on Feb. 5, 2024.
Leading the charge, Flare (FLR) experienced a remarkable surge of 39.7% over the week, with its price reaching $0.031 per unit. Following closely, Chainlink (LINK) enjoyed a 29.1% increase, with its value hitting $19.20 per LINK.
Manta network (MANTA) against the tether (USDT) on Feb. 5, 2024.
The AI-driven cryptocurrency bittensor (TAO) also made significant strides, climbing 19.2% to trade at $432.41 per unit. Additional cryptocurrencies such as PYTH, IMX, LUNC, and RON also saw substantial gains, ranging from 10.3% to 17.7% this week.
Conflux (CFX) against the tether (USDT) on Feb. 5, 2024.
Beyond RON, a modest 14 cryptocurrencies achieved single-digit growth over the same period. On the flip side, the past week wasn’t as kind to certain cryptocurrencies. Manta network (MANTA) saw a decline of 27.2%, while conflux (CFX) dropped 17.2% against the U.S. dollar.
Injective (INJ) and the BRC20 token SATS both faced setbacks, with losses of 17.1% and 17%, respectively. Additionally, Bonk (BONK) and Lido’s LDO token recorded decreases of 14.5% and 13.5%, respectively. In total, ten cryptocurrencies reported double-digit declines, with dozens of others experiencing minor single-digit losses throughout the week.
What do you think about this week’s top performers and underachievers in the crypto economy? Share your thoughts and opinions about this subject in the comments section below.
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