Markets
Crypto Market Weekly Gainers and Losers – MOG, KAS, PENDLE, WLD
- Mog Coin, Akash Network and Kaspa were the biggest gainers last week.
- Pendle, Ethena and Worldcoin recorded the biggest losses last week.
Pendle [PENDLE] failed to replicate its previous performance last week, finding itself at the opposite end of the ranking spectrum.
Instead, the title of the week’s biggest gainer went to a cryptocurrency almost outside the top 100.
This change highlighted the volatility and rapid changes in fortune that can occur in the cryptocurrency market.
The biggest winners
Mog Coin [MOG]
Mog Coin [MOG] emerged as the biggest gainer of the week, according to data from CoinMarketCapOver the past seven days, this significant upward trend has propelled it into the top 100 cryptocurrencies by market capitalization.
Specifically, MOG saw a remarkable increase of 48.84% during this period.
Starting the week of June 23 at around $0.0000009, MOG initially showed a downward trend.
However, it quickly reversed this trajectory and made significant gains throughout the rest of the week, closing at around $0.000001.
This positive movement was also reflected in its market capitalization, which jumped to over $650 million, securing its position among the top 100 cryptocurrencies.
Despite a recent drop of over 4% in its market capitalization over the past 24 hours, MOG’s market cap has remained at over $648 million.
Akash Network [AKT]
Akash Network [AKT] (AKT) became the second biggest gainer of the week, with a notable increase of 20.96%, according to data from CoinMarketCap.
Despite this impressive weekly gain, AKT started the week on a bearish note.
The price chart revealed that it started the week at around $3, but saw a drop to around $2.7 the next day.
Nevertheless, it recovered sharply as the week progressed and closed above $3.5 at the end of the week.
Akash Network’s market cap stood at over $872 million, although it saw a slight decline in the last 24 hours.
Additionally, AKT’s trading volume decreased by more than 29% over the same period, amounting to approximately $41.5 million.
Kaspa [KAS]
Kaspa [KAS] The token, not the ghost, saw a slight decline at the beginning of the week. It fell 0.6% and was trading around $0.15 on June 23.
However, the token quickly reversed course and started to rise, marking consecutive increases throughout the week.
By the end of the week, KAS was trading at around $0.19, resulting in an overall weekly gain of over 7%, positioning it as the third biggest gainer of the week.
Data from CoinMarketCap Kaspa shares recorded a notable overall rise of 20.16%. Further technical analysis of its price trend suggested that Kaspa is currently in a strong bull market.
The Relative Strength Index (RSI) supported this analysis, indicating that the token was approaching the overbought zone, reflecting strong buying pressure.
Source: TradingView
Kaspa’s market capitalization has also seen substantial growth, surpassing $4.5 billion, with an increase of over 6% in the last 24 hours alone.
Notably, it is the only asset among the top gainers of the week with a market cap above $1 billion. Kaspa’s trading volume has jumped by more than 50% in the last 24 hours, reaching over $132 million.
The biggest losers
Pendulum [PENDLE]
PENDLE had a tough week, emerging as the biggest loser of the week, according to CoinMarketCapwith a significant drop of 19.80% over the past week.
Pendle’s price trend started on a positive note on June 23, opening above $6.
However, it quickly experienced a slowdown, closing the day at around $5.6. This downward trend continued throughout the week, with the price dropping further to around $4.9 by the end of the week.
Pendle’s market capitalization stood at over $769 million, although it was down more than 2% in the past 24 hours.
The trading volume for Pendle was nearly $43 million, which has also decreased significantly by more than 40% in the last 24 hours.
Ethena [ENA]
Ethena [ENA] had a rough week, marked by a steady decline in its value. The token started the week with a decline, closing the first day at around $0.56.
Despite attempts to stabilize, the decline continued throughout the week, culminating with a closing price of around $0.49.
According to data from CoinMarketCapEthena’s value has fallen by 18.48% over the past week, positioning it as the second biggest loser in the market.
At the time of writing, Ethena’s market capitalization exceeded $766 million, reflecting a decline of more than 2% in the last 24 hours.
Trading volume also saw a significant reduction, falling more than 20% to approximately $49.5 million during the same period.
World Currency [WLD]
Wordcoin [WLD] has been on a downward trajectory in recent weeks, with recent developments intensifying this decline.
AMBCrypto’s analysis of its daily time chart showed that it started the week down more than 4%, trading at around $2.8.
This level, however, marked the high point of the week, with the price facing further significant declines. By the end of the week, Worldcoin was trading at around $2.5, marking a further decline of over 4%.
Source: TradingView
According to data from CoinMarketCap, Wordcoin saw a weekly decline of 16.86%, ranking it as the third-largest loser in the market.
The Relative Strength Index (RSI) was below 30 at the time of writing. This indicates that WLD is not only in a strong downtrend, but also in an oversold state.
This could suggest potential for a price rebound if buyers perceive it as undervalued and decide to intervene.
The market cap was around $660 million, having declined by more than 5% in the past 24 hours. Additionally, trading volume also declined, falling by over 11% to over $126 million during the same period.
Conclusion
Here’s the weekly recap of the biggest winners and losers. It is essential to keep in mind the volatile nature of the market, where prices can change quickly.
So it is best to do your own research (DYOR) before making an investment decision.