There were some notable developments in the crypto market last week. While Bitcoin was on a clear uptrend, Bittensor (TAO) was the biggest gainer of the week. The winning crypto assets of the week saw double-digit gains, while the losers experienced single-digit declines.
Biggest Winner of the Week: Bittensor (TAO)
Bittensor (TAO) had a volatile start to the week, falling by 7% to 4% to $288.3. However, TAO recovered during the week, approaching the $470 level and closing the week with a 40.5% increase. TAO is currently trading at around $494. According to CoinMarketCap data, TAO became the biggest gainer of the week with this gain, taking its market value to over $3.4 billion. Trading volume increased by more than 30% to over $188 million. The Relative Strength Index (RSI) remains in the overbought territory.
Fantom (FTM)$FTM
Fantom (FTM) started the week at $0.48 and rose to $0.67. It became the second-biggest gainer, gaining close to 37% on a weekly basis. FTM is currently trading at $0.6597, down from $0.6597. Despite its market cap of over $1.8 billion, trading volume is down more than 8% to $197 million. Still, these gains have managed to attract investors’ attention.
Follow (SUI)$SUI
Sui (SUI) was the third biggest gainer with a 34% weekly increase. After trading around $1 at the beginning of the week, SUI rose to $1.4. Its market cap reached $3.8 billion, but it slightly decreased by 2%. Trading volume decreased by more than 50% to $395 million.
KuCoin Token (KCS)
KuCoin Token (KCS) was the biggest loser, closing the week with a 7% drop. KCS started at $8.2 and fell to $7.4. The KCS price is currently trading at $7.63. The market cap remained stable at around $896 million, while trading volume increased by 8% to $771,626.
Kaspa (KAS)
Kaspa (KAS) was the second crypto asset to lose the most value, finishing the week down 5.6%. KAS fell from $0.177 to $0.170. The KAS price is currently trading at $0.166. Its market cap remained at just over $4.1 billion, while its trading volume fell 40% to $24.2 million.
Internet Computer (ICP)
Internet Computer (ICP) experienced three consecutive declines at the beginning of the week, dropping to $7.9. It recovered to $8.5 over the weekend, but lost over 5% in total. ICP is currently trading at $8.36. Its market value is around $3.9 billion, while its trading volume has decreased by 30% to $58.8 million.
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I EXPLAIN IN DETAIL.
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