Kofi Mensah In the current week, Bitcoin and Ethereum experienced a slowdown, although they achieved a slight increase of 2-3% against the U.S. dollar. In contrast, an ensemble of approximately 50 digital currencies logged significant advancements, with some seeing increases in the range of 100-200% in the week from October 28 to November 4, 2023. Leading the pack were cryptocurrencies such as ARK, SNT, and SUSHI.
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Market Dynamics: ARK Triumphs while FLOKI Slides in Weekly Rankings
The past week saw a group of 50 cryptocurrencies display remarkable upward movement, recording appreciations between 12% and an extraordinary 168% relative to the U.S. dollar. In parallel, a contingent of 30 digital assets were on the downtrend, with devaluations ranging from an inconsequential 0.01% to a more pronounced decline exceeding 15%.
At the forefront, the ARK token exhibited a phenomenal increase of 168%, taking the top spot for this week’s gainers when gauged against the U.S. dollar. Currently positioned at 147th in terms of market capitalization, ARK has seen a 23.2% hike in the last 24 hours alone.
Quote: ARK/USD value as of November 4, 2023.
Trailing closely behind, the Status (SNT) token secured the second position for this week’s largest gainers, ascending by 118% in value. In third place, the Sushi (SUSHI) token enjoyed a 72% uptrend this week.
Snapshot: SNT/USD as of November 4, 2023.
ARK and SNT were notably the only cryptocurrencies among the group of 50 to achieve triple-digit gains. Wemix (WEMIX) and PancakeSwap (CAKE) completed the top five, accruing advances of 51.4% and 50.36%, respectively.
Completing the list of the top ten performers, crypto assets such as SURE, ONG, POLY, RUNE, and ROSE registered substantial gains between 32% and 49%. Additionally, tokens like ZRX, XEM, AAVE, XRP, and SSV occupied the 45th to 50th spots, each marking improvements from 12% to 13%.
Valuation: FLOKI/USD as of November 4, 2023.
In contrast, the meme-based token Floki (FLOKI) led as the most notable decliner of the week, facing a steep 15.76% fall against the dollar. Following closely, Baby Doge Coin (BABYDOGE) suffered a 14.04% setback.
Other notable decreases were seen with OMI receding by 12.9% and PEPE by 9.4%. BONE from the Shiba Inu suite of projects experienced the fifth most substantial retreat, shrinking by 9.2% over the week.
The downturn also impacted tokens such as QNT, MKR, FTT, ANT, and LUNA (2.0), all of which were among the top ten losers over the course of the week. The total market capitalization of the cryptocurrency sector stands at $1.3 trillion, reflecting a 1.88% augmentation in the last day.
Despite a trading volume that reached $35.59 billion over the past day, there has been a 24% contraction from the previous day. In terms of market dominance, Bitcoin (BTC) commands a 52.3% share while Ethereum (ETH) maintains 17%.
We invite you to discuss the latest market fluctuations and share your insights regarding this week’s most significant crypto gainers and losers in the comment section below.
Frequently Asked Questions (FAQs) about weekly crypto market trends
Which cryptocurrencies led the gains in the market this week?
ARK and SNT tokens were the frontrunners this week, recording triple-digit surges against the U.S. dollar, with ARK at a 168% increase and SNT at 118%.
How did Bitcoin and Ethereum perform this week?
Bitcoin and Ethereum showed a moderate performance, with both cryptocurrencies achieving a slight increase of 2-3% against the U.S. dollar.
Which cryptocurrency experienced the largest decline this week?
The meme token Floki (FLOKI) experienced the most significant drop this week, with a 15.76% plummet against the dollar.
What is the current market capitalization of the cryptocurrency sector?
As of the latest update, the cryptocurrency market capitalization stands at $1.3 trillion.
How has the cryptocurrency trading volume changed recently?
The trading volume for cryptocurrencies was about $35.59 billion over the past day, marking a 24% decrease from the day prior.
More about weekly crypto market trends
- Weekly Market Analysis
- ARK Token Surge
- Cryptocurrency Performance Trends
- Market Capitalization Insights
- Trading Volume Fluctuations
5 comments
bitcoin and ethereum only up 2-3%?? thats nothing in the crypto world, we’re used to seeing double digits weekly
lol at everyone freaking out over market cap, its all just numbers on a screen till you cash out, people
just saw the ARK jump, absolutely insane! wasn’t ARK like super low last week? the crypto market is so unpredictable…
does anyone even look at the market dominance stats anymore, feels like BTC’s been on top forever and ETH is just its little brother at this point
gotta say im not surprised to see FLOKI fall, meme coins are too volatile anyway, serious investors should probably steer clear