Pendle (PENDLE) Leads as Top Gainer in a Volatile Week for Cryptocurrencies

• Pendle, Lido DAO, and Ethereum Name Service are identified as the top performers of the previous week.
• Conversely, zkSync, dogwifhat, and Notcoin faced the most significant losses during the same period.
• PENDLE displayed resilience in a volatile market, cementing its status as the week’s leading gainer.

Top cryptocurrency market movers of the week: Dive into the gains and losses among major tokens including Pendle, Lido DAO, and Ethereum Name Service.

Top Performers of the Week

Pendle [PENDLE]

Pendle [PENDLE] led the charge for the week despite market turbulence. It opened at approximately $5.6 and wrapped the week up at about $6.0, marking a robust performance.

Pendle’s weekly gain of 15.48%, according to CoinMarketCap data, underscores its strong market traction.

Fluctuations were observed, with price dips down to $4.8 and highs peaking at $6.2. By the end of the trading period, Pendle was valued at around $6.1.

The token’s market capitalization neared $947 million, and the trading volume hovered around $57 million, though a noticeable 26% drop was recorded within the last 24 hours.

Lido DAO [LDO]

Lido DAO [LDO] experienced a turbulent week with its price moving from approximately $2 to $2.3. Initial gains were seen early in the week, yet mid-week fluctuations caused a significant drop, although it managed to recover.

Lido DAO concluded the week with a 4.9% decline overall but still showed a 7.86% gain for the week per CoinMarketCap’s data, positioning it as the second-highest gainer.

The token’s Relative Strength Index (RSI) displayed a bullish trend, albeit weak. The market cap was noted at about $1.9 billion despite a daily decrease, with the trading volume at $106 million also reducing by 24%.

Ethereum Name Service [ENS]

Ethereum Name Service [ENS] exhibited notable fluctuations throughout the week. Starting at approximately $24.3, it faced a considerable hurdle, dropping to $22.7, only to rebound to $26.8 by midweek.

Despite ending the week on a negative note, ENS still managed a 7.7% gain, placing it as the third-largest gainer of the week.

Its market capitalization was around $788 million, with a trading volume of $79 million. Both market cap and trading volume saw a decrease over the last 24 hours, by over 2% and 40% respectively.

Major Losers of the Week

zkSync [ZK]

zkSync [ZK], despite its promising debut, ended its first week as the biggest loser. It began trading at around $0.27 but closed down to approximately $0.18, seeing a decline of over 37% by the week’s end.

The market capitalization was estimated at $673 million, with a 2% increase noted in the last 24 hours, though its trading volume fell by 38%, stabilizing at $181 million.

Dogwifhat [WIF]

Dogwifhat [WIF] started off strong but quickly reversed its gains, dropping from $2.6 to $1.74 by the end of the week. This accounted for a significant loss of over 28%.

The RSI indicated a strong bearish trend, with the index near the oversold zone. The market capitalization stood at $1.7 billion, while trading volume plummeted by 40% to $240 million over 24 hours.

Notcoin [NOT]

Notcoin [NOT] suffered greatly, dropping from $0.02 to $0.015, resulting in a week-long decline of approximately 25%. Despite this, its market cap increased slightly to $1.5 billion while its trading volume decreased by 30%, amounting to $321 million.

Conclusion

The weekly roundup highlights the volatility inherent within the cryptocurrency market, showcasing both substantial gains and steep losses. Investors should remain cautious and conduct thorough research before making investment decisions.