The cryptocurrency market has seen a significant turnaround over the past week, with Dogecoin emerging as the top-performing crypto asset among the top 10 cryptocurrencies by market capitalization. With a 22.3% gain in 1-week returns, the meme coin has outperformed Bitcoin and Ethereum.
While Bitcoin saw a 11.9% gain in a week, Ethereum recorded a 9.4% gain. Other assets on the list include Solana (8.4), Avalanche (5.6), Binance Coin (5.4), XRP (2.7), Cardano and Toncoin (1.4), and TRON (0.3). The crypto assets have seen growth at different stages over the same period.
Despite Dogecoin's strong weekly gains, Bitcoin still holds its market cap position, with a value of $1.35 trillion, and Ethereum is second at $318.28 billion. Although Dogecoin's market cap increased to $21.13 billion, its price reached $0.1443, reflecting an 8.46% increase in the past 24 hours.
Performance to date varies by cryptocurrency
While weekly returns provide insight into short-term trends, year-to-date performance highlights how crypto assets are performing in 2024. Toncoin leads the list, showing a significant year-to-date gain of 128.2%, closely followed by Binance Coin (BNB), with a staggering return of 89.8%.
Not all assets have been lucky, however. Cardano and Avalanche stand out as poor performers, with year-to-date losses of -42.1% and -29.2%, respectively. XRP is also down -11.3% since the start of the year.
Bitcoin and Ethereum have demonstrated stability and steady growth in 2024, with year-to-date growth of 59.5% and 14.2%, respectively.
Daily market activity and price trends
At press time, Dogecoin was trading at $0.1443, up 8.46%, while Bitcoin recorded a gain of 0.54% and was trading at $68,352.42. Over the past 24 hours, Ethereum was valued at $2,643.74 and up 0.72%.