The cryptocurrencies Internet Computer ( #ICP $ICP ), #BONK ( $BONK ) and #Osmosis ( $OSMO ) stood out as the biggest weekly winners of a crypto market under price correction. ICP managed to consolidate its upward trend of recent weeks with an increase close to 100% in the past seven days, according to CoinMarketCap.

It was followed by the #memecoin BONK, which repeats one more week among the main winners, with more than 80% growth in its price, and the OSMO token, which registered a notable weekly increase of over 74%.

Cryptocurrency market capitalization

After the Christmas rally of the last two weeks, the cryptocurrency market presented a correction in the prices of the main crypto assets. As a result, the market capitalization fell in the last seven days, going from $1.64 trillion to $1.58 trillion, according to CoinMarketCap figures.

The main cryptocurrency on the market, Bitcoin (BTC), showed a decline of 4.66% in the recent week. #BTC started the week at around $43,600, fluctuating in price throughout the week, including three breaks above $43,000. However, the price of Bitcoin fluctuated between $41,000 and $42,000, closing the week above $41,500.

Ethereum (ETH) showed a weekly performance between a high of $2,340 and a low of $2,150. The cryptocurrency closed the week at $2,190, 6% less than at the beginning of the week.

Fear and Greed Index

Cryptocurrency market sentiment saw a pullback in terms of the level of “greed” recorded in recent weeks. The price correction reduced the CoinMarketCap Fear and Greed Index from 80.19 to 72.84 points.

Winners and losers of the week

ICP, winning cryptocurrency

Internet Computer's ICP is the big winner in the cryptocurrency market in the last week, which represents continuity in its growth process in the last month. The price of ICP started the week at $5.62 and closed above $10.66, which means an increase of 98%. ICP's weekly trading hit a high of $11.49, its highest point since mid-2022.

BONK

Solana native BONK memecoin repeats another week among the top cryptocurrencies in terms of performance. BONK's price went from $0.00001312 to $0.00002291 at the end of the week, including a price of $0.00003419 that represents a new all-time high for the memecoin, which maintains a capitalization greater than $1.30 billion.

OSMO

The OSMO token, from the Osmosis project, belonging to the Cosmos ecosystem, stood out with more than 74% weekly increase. OSMO broke the $1 barrier for the first time since February, placing its price above $1.40 at the end of the week, its highest point since May 2022.

Other winning cryptocurrencies

In addition to ICP, BONK and OSMO, other cryptocurrency winners of the week include Helium (HNT), Injective (INJ), Axelar (AXL), WOO Network (WOO) and Celestia (TIA), with increases of between 50% and the 30th%. Cryptocurrencies and tokens such as SATS, Bitget Token (BGB), Arweave (AR), Render (RNDR) and Avalanche (AVAX) remained above 10%.

Losing cryptocurrencies

On the losing side, the biggest losses at the price level were reflected in the crypto assets FTX Token (FTT), Terra Classic (LUNC), and Pyth Network (PYTH), with weekly drops of 35%, 20% and 18%. , respectively. Other cryptocurrencies such as Kaspa (KAS), Chainlink (LINK), Polygon (MATIC), Sui (SUI) or Axie Infinity (AXS), fell more than 10% in the last seven days.

TVL

The Total Value Locked (TVL), a metric closely related to the crypto market, through decentralized finance (DeFi), registered a slight weekly increase, going from $50.93 billion to $51.86 billion, according to Defillama metrics.

*This information does not represent investment advice. Investing in cryptocurrencies carries the risk of losing all invested capital.

Source: Observatorioblockchain.com