- This past week saw significant shifts in the cryptocurrency market, with certain assets emerging as clear winners and others struggling considerably.
- MANTRA, MultiversX, and Notcoin recorded notable gains, standing out against a backdrop of declining overall market performance.
- Pendle and Fantom continued their downward spiral, positioning themselves among the week’s biggest losers alongside ORDI.
Discover the latest trends in the cryptocurrency market with our detailed analysis of the week’s biggest winners and losers, highlighting essential shifts and future outlooks.
MANTRA Surges as the Week’s Top Performer
In a week marked by overall bearish sentiment in the cryptocurrency space, MANTRA (OM) outperformed expectations with a remarkable 25.05% increase. Starting the week at around $0.7, OM experienced a steady rise with minor dips, ultimately closing above $0.8. As the new trading week commenced, it traded around $0.9, showcasing an upward momentum. The market capitalization of OM saw a significant 8% rise, reaching over $765 million, although a 20% drop in trading volume to around 32.3 million was noted.
MultiversX Posts Significant Gains
MultiversX (EGLD) also had a notable week, registering a 20.66% increase. The asset started trading at approximately $28.8 and closed at around $35 despite a few fluctuations. Sharp price spikes characterized its trading pattern, with the market capitalization surging above $927 million, marking a 2% daily increase. However, trading volume saw a stark reduction, dropping nearly 50% to approximately $34 million.
Notcoin’s Unpredictable Week
Notcoin (NOT) experienced a volatile week, beginning with almost 6% gains but soon facing significant losses. By mid-week, its price had dropped to around $0.010 but a remarkable rally in the later part of the week pushed NOT to a 28.61% increase, ending the week at about $0.013. This recovery was coupled with a trading volume surge of over 150% to surpass 877 million and a market cap increase of more than 44% to exceed $1.5 billion.
ORDI Leads the Losers’ Chart
ORDI (ORDI) experienced a stark 23.26% decline, making it the biggest loser. Starting the week at around $38, ORDI’s price consistently trended downward, hitting approximately $27 at its lowest point. Despite a minor recovery later in the week, closing at $30.7, it remained in the red. Its market cap saw a modest increase of 4% to over $630 million, although trading volume fell by 28% to about $124.3 million.
Pendle’s Continued Struggles
Pendle (PENDLE) suffered its second consecutive week of losses, declining by 22.45%. Starting the week at around $5, it attempted minor gains before succumbing to a downward trend, closing at approximately $4. Its market cap slightly grew over the week, exceeding $592 million, while trading volume dropped by almost 10% to around $65 million.
Fantom’s Rollercoaster Week
Fantom (FTM) began the week positively, trading at around $0.58 with an 8.80% increase, only to face significant drops on 3rd and 4th July, bringing its price to around $0.44. A modest recovery towards the week’s end saw it reach about $0.45. Despite these fluctuations, FTM concluded the week as the third-biggest loser with an overall 20.95% decline. Its market capitalization hovered around $1.2 billion, and trading volume fell to about $118.6 million.
Conclusion
The past week in the cryptocurrency market starkly highlighted the volatility inherent in digital assets. MANTRA, MultiversX, and Notcoin emerged as top performers, demonstrating resilience and significant gains. On the flip side, ORDI, Pendle, and Fantom faced substantial declines. These movements underscore the importance of closely monitoring market trends and remaining adaptable to rapidly changing circumstances for future investment decisions.
