Crypto Gainers and Losers of the Halving Week | CoinGape
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Discover the cryptocurrency assets that experienced significant gains and losses during the fourth Bitcoin halving event. Evaluate their performance and the factors influencing the market.
Today, as the fourth Bitcoin halving event unfolds, various digital assets in the cryptocurrency market have witnessed fluctuations in their values. This pivotal event, marked by a reduction in mining block rewards, often triggers shifts in the overall crypto market landscape. Let’s delve into the crypto gainers and losers of this week based on CoinMarketCap data, analyzing the potential factors driving their price movements.
Top 5 Crypto Gainers
Before delving into the underperformers, let’s highlight the top performers of the week.
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1. Core (CORE)
CORE emerges as the leading crypto gainer, displaying a robust surge of 21.78% over the past week, reaching $2.02. This price uptick signifies a growing interest and confidence among investors in Core’s technology and market outlook. The substantial trading volume further solidifies its position as a standout performer during the halving week.
2. Celestia (TIA)
Celestia (TIA) has demonstrated significant growth, with its price escalating by 15.60% in the previous week, reaching $11.73. This valuation increase underscores the increasing recognition of Celestia’s unique offerings within the crypto community. The heightened trading activity indicates a surge in engagement and attention towards TIA amidst the halving event.
3. Arweave (AR)
Trading at $30.08, Arweave (AR) has exhibited consistent growth, recording a 7.97% price surge during the halving week. This uptrend reflects the sustained interest from investors intrigued by Arweave’s decentralized data storage solution. Despite market uncertainties, AR has managed to chart a favorable trajectory, attracting interest and investments.
4. Sui (SUI)
SUI (SUI) has experienced a notable price increase of 7.93% in the past week, reaching $1.34. The surge is supported by substantial trading volume, indicating robust investor participation and confidence in SUI’s blockchain technology. Despite market turbulence stemming from the halving event, SUI has successfully garnered positive momentum.
5. Akash Network (AKT)
Akash Network (AKT) has registered moderate gains of 6.75% during the halving week, reaching $3.89. Despite comparatively lower trading volume than other gainers, AKT’s positive performance underscores its potential as a decentralized cloud computing platform. The consistent price uptick reflects growing investor faith in AKT’s long-term viability.
Top 5 Crypto Losers
Having highlighted the top gainers, let’s shift focus to the cryptocurrencies that faced declines.
1. Nervos Network (CKB)
Nervos Network (CKB) witnessed a price drop to $0.0198, marking a significant decline of 29.67% over the past week. This downtrend can be attributed to factors such as market sentiment and profit-taking following the halving event. Despite introducing new features, CKB has encountered challenges in maintaining stability amidst heightened volatility.
2. ORDI
ORDI experienced a substantial price decline of 25.27%, with the price plummeting to $46.05 amid considerable trading volume. This sharp downturn mirrors the obstacles ORDI faced amidst broader market fluctuations during the halving week. Despite initial promise, ORDI struggled against market dynamics and investor sentiment.
3. Ethena (ENA)
ENA witnessed a notable price decrease of 20.70% over the past week, dropping to $0.9804. The significant devaluation underscores the hurdles faced by ENA amid increased market volatility during the halving week. Despite its potential, ENA grappled with maintaining momentum in challenging market conditions.
4. Bittensor (TAO)
Trading at $443.9, Bittensor (TAO) recorded a decline of 18.04% in the previous week, signaling a testing period for the cryptocurrency amidst broader market trends. Despite its innovative offerings, TAO encountered resistance from market dynamics and investor sentiment during the halving week.
5. Starknet (STRK)
Starknet (STRK) observed a price dip of 17.39%, reaching $1.23, reflecting the crypto market’s volatility during the halving week. Despite its potential, STRK struggled to maintain stability amid fluctuations in market sentiment and trading activity.
Conclusion
The halving week witnessed both crypto gainers and losers, showcasing the volatile and intricate nature of investing in digital assets. While some cryptocurrencies surged during the event, others faced declines, emphasizing the importance of thorough research and risk management for investors navigating the crypto market.
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With extensive experience spanning over four years in the cryptocurrency, Fintech, blockchain, and Web3 sectors, I bring a wealth of knowledge and expertise to my writing. Backed by a Masters in Business Administration, my content blends insightful analysis with a profound understanding of market trends, technological advancements, and regulatory landscapes. Whether crafting engaging articles, informative guides, or thought-provoking analyses, my aim is to deliver content that educates, informs, and inspires readers in this rapidly evolving space.
The views expressed in the content may reflect the author’s personal opinions and are subject to market conditions. It is advisable to conduct thorough market research before investing in cryptocurrencies. The author and the publication do not assume any responsibility for individual financial losses.
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