Markets
Crypto Market Weekly Winners and Losers – MOG, KAS, PENDLE, WLD
- Mog Coin, Akash Network and Kaspa were the biggest winners last week.
- Pendle, Ethena and Worldcoin saw the biggest losses last week.
Pendle [PENDLE] failed to replicate its previous performance last week, finding itself at the opposite end of the ratings spectrum.
Instead, the week’s biggest gainer title went to a cryptocurrency barely outside the top 100 rankings.
This move highlighted the volatility and rapid changes in fortunes that can occur in the cryptocurrency market.
Biggest winners
Mog Coin [MOG]
Mog Coin [MOG] emerged as the biggest gainer of the week, according to data from CoinMarketCap. Over the past seven days, this significant uptrend has catapulted it into the top 100 cryptocurrencies by market capitalization.
Specifically, MOG saw a notable increase of 48.84% during this period.
Starting the week of June 23 at approximately $0.0000009, MOG initially trended lower.
However, it quickly reversed this trajectory and made significant gains during the rest of the week, closing around $0.000001.
This positive movement was also reflected in its market capitalization, which rose to more than US$650 million, ensuring its position among the top 100 cryptocurrencies.
Despite a recent decline of over 4% in its market cap in the past 24 hours, MOG’s market cap remained at over $648 million.
Akash Network [AKT]
Akash Network [AKT] (AKT) emerged as 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 downward trend.
The price chart revealed that it started the week trading at around $3, but dropped to approximately $2.7 the following day.
However, it recovered strongly as the week progressed and closed above $3.5 at the end of the week.
Akash Network’s market cap was over $872 million, although it has seen a slight decline in the last 24 hours.
Additionally, AKT’s trading volume decreased by over 29% during the same period, totaling around $41.5 million.
Kaspa [KAS]
Kaspa [KAS] the token, not the phantom, saw a slight decline at the start of the week. It fell 0.6% and traded at around $0.15 on June 23.
However, the token soon reversed its trajectory and began to rise, marking consecutive highs throughout the week.
At the end of the week, KAS was trading at approximately $0.19, culminating in an overall weekly gain of over 7%, which positioned it as the third biggest gainer of the week.
Data from CoinMarketCap indicated a notable overall increase of 20.16% for Kaspa. Further technical analysis of its price trend suggested that Kaspa was currently in a strong bull market.
The Relative Strength Index (RSI) supported this analysis, indicating that the token was approaching the overbought zone, which reflected high 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 week’s biggest gainers with a market cap surpassing $1 billion. Kaspa’s trading volume has increased by more than 50% in the past 24 hours, reaching over $132 million.
Biggest losers
Hang [PENDLE]
PENDULUM experienced a difficult week, emerging as the biggest loser of the week, for CoinMarketCapwith a significant decline of 19.80% last week.
Pendle’s price trend started bullish on June 23, opening above $6.
However, it quickly suffered a decline, closing the day at around US$5.6. This downward trend persisted throughout the week, with the price falling further to approximately $4.9 at the end of the week.
Pendle’s market cap was over $769 million, although it has declined by over 2% in the past 24 hours.
Pendle’s trading volume was nearly $43 million, which also dropped significantly by over 40% in the last 24 hours.
Ethena [ENA]
Ethena [ENA] experienced a challenging week, marked by a constant drop in its value. The token started the week in decline, closing the first day at approximately US$ 0.56.
Despite attempts to stabilize, the decline persisted throughout the week, culminating in a closing price around $0.49.
According to data from CoinMarketCapEthena’s value fell 18.48% last week, positioning it as the market’s second biggest loser.
At the time of writing, Ethena’s market capitalization is over $766 million, reflecting a drop of more than 2% in the last 24 hours.
Business volume also suffered a significant reduction, falling more than 20% to approximately US$49.5 million in the same period.
World currency [WLD]
Word Currency [WLD] has been on a downward trajectory in recent weeks, with recent events intensifying this decline.
AMBCrypto’s analysis of its daily chart showed that it started the week down over 4%, trading around $2.8.
This level, however, marked the high point of the week as the price faced further significant declines. At the end of the week, Worldcoin was trading at approximately $2.5, marking another decline of over 4%.
Source: TradingView
According to data from CoinMarketCap, Wordcoin suffered a weekly drop of 16.86%, ranking it as the third biggest loser in the market.
The Relative Strength Index (RSI) was below 30 at the time of writing. It indicated that WLD was not only in a strong downtrend but also in an oversold state.
This could suggest a potential for prices to rebound if buyers consider them undervalued and decide to intervene.
The market cap was around US$660 million, having declined by more than 5% in the last 24 hours. Additionally, trading volume also declined, dropping by more than 11% to more than $126 million over the same period.
Conclusion
Here is the weekly recap of the biggest gainers and losers. It is crucial to keep in mind the volatile nature of the market, where prices can change rapidly.
Therefore, it is best to do your own research (DYOR) before making any investment decisions.