Markets
Weekly Crypto Market Winners and Losers – LDO, ENS, WIF, NOT
- Pendle, Lido DAO and Ethereum Name Service were the biggest gainers last week.
- zkSync, dogwifhat and Notcoin were the biggest losers of the week.
Pendle [PENDLE] saw the market swing in its direction as it emerged as the biggest winner in a turbulent week for cryptocurrencies.
Meanwhile, zkSync got off to a rocky start, quickly feeling the impact of market forces in what could be described as its “baptism of fire.”
The biggest winners
Pendle [PENDLE]
PENDLE started the week in a positive way, even if its progression was not entirely smooth. It opened at around $5.6 and closed the week at around $6.0.
Data from CoinMarketCap indicates that PENDLE has gained 15.48% over the past week, positioning it as the top gainer of the week.
AMBCrypto analysis found that the price of Pendle fluctuated throughout the week, falling as low as $4.8 and peaking at $6.2.
At the time of writing, it was trading at around $6.1, showing a slight increase from its closing price last week.
Its market capitalization was around $947 million, with a trading volume of around $57 million. Notably, its volume decreased by 26% in the last 24 hours.
Lido DAO [LDO]
AMBCrypto’s point of view Lido DAO [LDO] on a daily time frame, it revealed that it started the week with a 3.81% increase, increasing its price from around $2 to $2.15.
It then experienced a significant drop of more than 7% on June 17, bringing its price to around $1.9. However, subsequent rises of around 10% and 6.5% helped it recover, pushing its price above $2 to around $2.3.
The chart shows that LDO ended the week down 4.9%. Still, it managed to keep its price above $2, trading at around $2.1.
Despite significant losses during the week, LDO finished as the second highest gainer according to data from CoinMarketCapwhich recorded a gain of 7.86% over the week.
Source: TradingView
The Lido DAO Relative Strength Index (RSI) indicated that it remains in an uptrend despite its recent declines. At the time of writing, the RSI was above the neutral line, resting on it.
This suggests that although Lido DAO is still in an uptrend, the trend is relatively weak.
At the last update, Lido DAO’s market capitalization stood at around $1.9 billion, after experiencing a decline over the past 24 hours.
Additionally, its trading volume in the last 24 hours was around $106 million, which also saw a reduction of around 24%.
Ethereum Name Service [ENS]
Ethereum Name Service [ENS] started the week with a price of around $24.3, starting on a positive note with an initial gain. However, it quickly faced a major setback, dropping to around $22.7 the next day.
Despite this, ENS saw significant increases thereafter, and by June 21, it was trading at around $26.8.
Despite a significant drop towards the end of the week, with the price dropping to around $25, ENS still managed to close the week with a 7.7% gain.
This performance makes him the third biggest gainer of the week, according to data from CoinMarketCap.
As of the last update, the market capitalization of Ethereum Name Service (ENS) was around $788 million and its trading volume was around $79 million.
Over the past 24 hours, the market capitalization has declined by over 2% and trading volume has significantly decreased by over 40%.
The biggest losers
zkSync [ZK]
During its first week, zkSync [ZK] has become the biggest loser, according to data from CoinMarketCap. Data indicates that it started the week at around $0.27 but saw rapid declines throughout the week.
Market forces have not received the expected favorable reception. By the end of the week, its price had fallen to around $0.18.
According to data from CoinMarketCapZK concluded the week with a significant drop of over 37%.
As of the last update, its market capitalization stood at around $673 million, having increased by more than 2% in the last 24 hours.
Its trading volume was around $181 million, down more than 38% in the last 24 hours.
dog hat [WIF]
AMBCrypto review of dog hat [WIF] revealed that it started the week up more than 7%, trading at around $2.6.
However, this increase is only a brief interruption of the downward trend recorded the previous week.
After the initial rise on June 16, it faced consecutive declines. By the end of the week, Dogwifhat was trading at around $1.74.
According to data from CoinMarketCapmemecoin was the second biggest loser of the week, seeing a decline of over 28%.
Its relative strength index (RSI) indicated that it was anchored in a strong downtrend.
Source: TradingView
The RSI was barely above 30, highlighting the intensity of the bearish momentum and indicating that it was very close to entering the oversold zone.
According to the latest data, the market capitalization of memecoin stood at around $1.7 billion.
Its trading volume was around $240 million, down significantly, showing a drop of over 40% in the last 24 hours.
Notcoin [NOT]
According to data from CoinMarketCap, Notcoin [NOT] was the third biggest loser of the week, experiencing a drop of more than 25% over the past week.
Analysis of NOT by AMBCrypto indicated that it started the week with a price of around $0.02, but started to decline from the start. By the end of the week, its price had fallen to around $0.015.
At press time, its market capitalization stood at $1.5 billion, up more than 3%. However, its trading volume, which stood at around $321 million, declined by more than 30% in the last 24 hours.
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.