Javier Hernandez In the last week, leading cryptocurrencies bitcoin and ethereum saw minor drops in value, with reductions between 1.8% and 3.6% compared to the U.S. dollar. In contrast, a group of cryptocurrencies, notably ICP, HNT, BONK, and WOO, demonstrated significant growth, with increases in the double digits over this period.
16 Cryptocurrencies Achieve Double-Digit Growth, 8 Suffer Comparable Losses
Starting the week of Monday, December 18, 2023, the total value of the crypto market stood at $1.61 trillion, a slight fall of 1.9% from the previous day. As the festive season nears, there’s been a reduction in global trading volumes. However, the last 24 hours saw an impressive $76.24 billion in trades, marking a substantial 30% increase from the prior day.
The past week has seen internet computer (ICP) lead the gains, skyrocketing by 85.5%. Helium (HNT) also achieved significant growth, up 68.9%, while the meme cryptocurrency bonk (BONK) increased by 68%. Additionally, woo network (WOO) gained 57.1% in value against the dollar. Out of over 11,000 listed cryptocurrencies, 16 registered double-digit growth this week.
Other cryptocurrencies that performed well this week include OSMO, INJ, ASTR, FET, TKX, STX, TIA, BGB, and GT. Alongside BTC and ETH, XRP, SOL, and AVAX were also active in terms of trading volume. XRP, however, fell by 4.4% during the week, while SOL and AVAX rose by 3.1% and over 10%, respectively. Other highly traded cryptocurrencies like DOGE, BNB, LINK, and ADA also remained prominent.
Conversely, the synthetix network (SNX) recorded the most significant drop this week, plummeting by 21.1%. BTT decreased by 16.7%, LUNC by 15.9%, and KAS by 13.9%. In total, eight cryptocurrencies faced double-digit losses, with MINA, XEC, EGLD, and LDO also experiencing notable declines.
As the year ends, uncertainty continues to hover over the market, especially in the altcoin domain. The holiday season traditionally brings a slowdown in crypto trading, as investors become more cautious amidst festive distractions and end-of-year considerations. This period is often marked by stagnant trading activity, highlighting the cautious approach prevalent in the market as the year concludes.
What are your views on the week’s top crypto winners and losers? Please share your insights and opinions on this topic in the comments section.
Table Of Contents
Frequently Asked Questions (FAQs) about Crypto Market Review
What were the top performing cryptocurrencies this past week?
Internet Computer (ICP) led the gains with an 85.5% increase, followed by Helium (HNT) at 68.9%, the meme coin Bonk (BONK) with 68%, and Woo Network (WOO) gaining 57.1%.
How did Bitcoin and Ethereum fare in the market this week?
Bitcoin and Ethereum experienced modest declines, ranging from 1.8% to 3.6%, compared to the U.S. dollar.
Which cryptocurrencies saw the most significant losses this week?
Synthetix Network (SNX) had the largest decrease, falling by 21.1%, followed by BTT, LUNC, and KAS with declines ranging from 13.9% to 16.7%.
What was the total value of the crypto market at the start of the week?
At the beginning of the week, the crypto market was valued at $1.61 trillion, marking a slight decrease of 1.9% from the previous day.
How has the holiday season affected the crypto market?
The holiday season has traditionally led to a slowdown in crypto trading volumes, reflecting a cautious approach by investors amidst festive distractions and year-end reflections.
More about Crypto Market Review
- Cryptocurrency Market Trends
- Bitcoin and Ethereum Weekly Performance
- Top Gainers in Crypto This Week
- Crypto Market Value Analysis
- Holiday Season Impact on Crypto Trading
5 comments
Bonk’s rise is hilarious, meme coins are so random but that’s why i love them
Great article but it’d be helpful to have more insight on why SNX dropped so much, any thoughts?
wow, ICP really took off this week! didn’t expect that kind of surge, goes to show how unpredictable the market can be
ethereum and bitcoin’s dip isn’t too bad, but it’s a bit worrisome considering the overall market trend, what’s gonna happen next?
interesting to see how the holiday season slows things down, always thought it’d be the opposite with more people trading