Weekly Recap: Altcoin Market Sees Widespread Gains

Over the past week, the total market cap for the crypto space grew nearly $80B, evidence of a market-wide surge. BTC finally broke past the $25,000 range after multiple attempts since the start of this month. The king cryptocurrency didn’t stay there very long and is currently trading at $23,636. However, analysts believe the latest resistance break points towards a possible resurgence and the token regaining its stability.

Ethereum’s performance has been even more impressive after the network devs confirmed a date for the Merge upgrade, 4 days earlier than the previous one. Community enthusiasm over the past few days saw the token finally cross the coveted $2k mark on Sunday. Ethereum has since retraced to sit at $1,854 at writing.

Gainers: Binance Funding Sees ANKR in the Week’s Top Gainers, ABBC Leads the Way

ABBC Coin (ABBC)

ABBC Coin, the token powering payment security platform ABBC was one of the week’s top gainers charting a 334.79% rise within that time frame. The coin had been steadily trading at bottom levels over the past two months, but a sudden pump on Friday afternoon set it on a bullish path. ABBC had started off trading at about $0.05216 but has hit a 3-month high of $0.2175. The token seems set to jump even further and is currently trading at $0.2203.

Ankr (ANKR)

Web3 infrastructure platform Ankr saw the value of its token shoot up last Thursday as the team rolled out new token staking features. News of a strategic investment from Binance pushed the coin further, ultimately seeing it accumulate 55.82% in gains within 7 days. ANKR entered the week trading at $0.0349 but rapidly rose in the span of a few hours to record a 90-day high of $0.05625. The token has continued to consolidate in the range since then and is valued at $0.05088 at writing.

Chiliz (CHZ)

The native token for sports-focused blockchain platform Chiliz saw its value grow steadily over the past week. CHZ gained additional momentum as the team behind the project dropped hints about the forthcoming Pequin update, phase 5 of the network’s Scoville testnet. The token is up nearly 50% over the past 7 days and is currently seated at $0.2192 after touching a high of 0.2204 USD.

EOS (EOS)

Blockchain protocol EOS Network Foundation saw the price of its native token climb on the heels of updates regarding its liquidity incentive and reward program Yield+. The token mostly consolidated at the $1.3 region for most of last week before a surge late last night. EOS gained 19.63% within 24 hours to hit a high of $1.64. This comes up to a weekly growth of 30.42% with the token trading at $1.55 at the moment.

Shiba Inu (SHIB)

After spending most of the past week trading around $0.0000125, meme coin Shiba Inu surged by over 30% early on Sunday. The token swiftly moved from $0.00001281 to peak at $0.00001766 later that same day. SHIB is up 34.06% within the past week hitting highs that have not been seen since May. The token has since retraced but remains in the green trading at $0.00001605 at writing.

Losers: Oasis Network Loses Steam, APE Continues to Fall

BitDAO (BIT)

Web3 ecosystem BitDAO saw its token perform well over the past two weeks. However, late on Thursday, the token began a sudden decline that saw it plunge into the red. BIT is down 26.79%, in the lead as one of the week’s top losers. The token entered the week already trading poorly at $0.6658 but fell even further to chart a weekly low of $0.481. BIT has recovered a bit since then but has slipped 3.80% today to rest at $0.5084.

Oasis Network (ROSE)

After a two-week bull run on the back of a Meta collab, the Oasis network has begun to lose steam. ROSE is down 18.24% over the past 7 days and appears set to plunge even lower. As of Wednesday last week the token had been in the green trading at $0.1082, however, as the day went on its value declined. At writing, the token is down 5.76% and is currently trading at $0.08824.

Mina (MINA)

Light-weight privacy protocol Mina network’s MINA token has fallen 15.35% in one week. After a bullish course saw the token peak at $0.9846 on Wednesday, MINA saw its value start to drop. The digital coin’s rocky downwards trend has it down 3.80% in one day and trading at one of its lowest points this week; $0.8229.

Maker (MKR)

The governance token for stablecoin ecosystem MakerDAO has seen losses scaling 11.88% over the past couple of days. While there are no clear ties, this comes shortly after MakerDAO founder Rune Christensen shared plans to shed its $3.5B USDC backing for ETH. Notably, Ethereum founder Vitalik Buterin flagged Christensen’s proposal as a “risky and terrible idea.”

Maker had earlier been consolidating around $1.1K and briefly shot up, nearly hitting $1200 before beginning to plunge. At writing, MKR is trading at $966.33.

Apecoin (APE)

Apecoin’s negative price action has continued from the past week, despite seeming improvement a while ago. On Wednesday, APE was still charting in the green, however, its price began to fall as Thursday rolled around. The token lost 13.37% in value over the last 7 days and is currently trading at a 7-day low of $6.10.