A Dozen Digital Assets Record Double-Digit Gains as Crypto Markets Begin to Heal After FTX’s Collapse
At the time of writing the global cryptocurrency market capitalization is hovering around $842 billion on Sunday, Nov. 27, 2022. Bitcoin prices consolidated since the start of the week, as seven-day stats indicate the price of bitcoin has dropped by 0.02% this week. Meanwhile, while bitcoin prices remain static, a number of alternative crypto assets have recorded double-digit gains this week.
Crypto Economy Hovers Above the $800 Billion Zone as a Dozen Tokens Record Double-Digit Gains
Bitcoin (BTC) on Sunday is currently trading for $16,550 per unit and prices have remained stagnant for the last seven days. The token with the second-largest market capitalization, ethereum (ETH), has managed to gain 3.45% this week climbing back above the $1,200 range.
At the time of writing (10:00 a.m. ET), the crypto economy is down 0.07%, and it is currently valued at 842 billion nominal U.S. dollars. Out of the top ten largest cryptos this week, the two leading tokens include BNB and DOGE.
BNB has increased by 16.29% against the greenback during the past week, and seven-day stats show dogecoin (DOGE) is up 25.57%. Both of these crypto assets are not the only tokens that have seen double-digit gains during the past week.
The exchange coin huobi token (HT), for instance, has increased by 55.99% this week and celo (CELO) is up 45.31%. Curve’s dao token (CRV) has jumped 35.41% higher against the U.S. dollar, and litecoin (LTC) has increased by 25.29% this week.
Apecoin (APE) managed to rise 22.55% this week, and chainlink (LINK) rose by 17.95%. Dash (DASH) is up 17.25% and convex finance (CVX) has risen by 15.25% against the greenback.
In fact, 13 different crypto assets out of the 21,863 listed on coinmarketcap.com, have increased by double digits during the last week. This week’s biggest losers, however, included chiliz (CHZ) down 24.16%, chain (XCN) which lost 16%, and algorand (ALGO) shed 12.67%.
Those were the only three crypto tokens that saw double-digit losses against the U.S. dollar during the past seven days. Presently, out of the $842 billion global cryptocurrency market capitalization, bitcoin’s (BTC) market cap dominates by 37.7%.
Ethereum (ETH), on the other hand, dominates the crypto economy by 17.6% on Nov. 27, 2022. Global trade volume is a lot less than when FTX collapsed two weeks ago, as it rose above $200 billion during multiple 24-hour periods.
Today, the crypto economy’s Global trade volume is only $36.84 billion and tether (USDT) commands $26.78 billion of the aggregate. Bitcoin’s (BTC) global trade volume today is around $19.30 billion and ETH captures $4.38 billion of Sunday’s trade volume.
What do you think about the handful of crypto tokens that have recorded double-digit gains this past week? Let us know what you think about this subject in the comments section below.