- Sui, Helium, and Zcash were the biggest winners in the past week.
- Lido DAO, Aave, and Maker made up the top losers’ list.
Certain tokens have notably diverged from the trend in a week marked by volatility and downturns in the broader cryptocurrency market.
Sui (SUI) emerged as the standout performer, rallying impressively after consecutive days of decline, while Lido DAO (LIDO) and AAVE experienced significant setbacks.
Biggest winners
Sui (SUI)
Analysis of Sui (SUI) on a daily time frame reveals a significant turnaround after a prolonged decline. The week began with a continuation of the downward trend, as SUI dropped by 5.39% and further decreased by over 7% the next day.
These declines marked the 10th consecutive day, bringing its price down to $0.53.
However, the trend reversed dramatically on 5th August, with SUI posting a 12.55% increase, which increased the price to approximately $0.6. The most substantial rise occurred on 8th August, when SUI surged by 38.58%, boosting its price to around $0.8.
The week concluded with a 7.42% increase, pushing the closing price to approximately $0.9.
Source: TradingView
This series of increases led SUI to close the week with an overall gain of over 44%, categorizing it as the week’s top performer, according to CoinMarketCap.
Also, as of the latest data, SUI’s market capitalization stood at over $2.3 billion, with trading volume surpassing $319 million. The trading volume has risen by over 16% in the last 24 hours.
Helium (HNT)
Helium (HNT), like Sui, experienced a challenging start to the week. It recorded a significant 7% decline, bringing its trading price down to approximately $4.2.
Despite this initial setback, Helium quickly reversed its fortunes and registered consecutive increases throughout the week. Also, the trend reversal included two days of double-digit gains.
The week concluded with a slight 3.98% decline; however, Helium managed to maintain its elevated price level, closing the week around $6.5. This recovery marked Helium as the second-biggest gainer of the week, increasing by over 34%.
According to the latest data from CoinMarketCap, Helium’s market capitalization stood over $1 billion, though it experienced a slight decline in the last 24 hours. Additionally, trading volume dropped over 50%, totaling approximately $13.7 million.
Zcash (ZEC)
Zcash began the week trending downwards, starting at approximately $31. However, like other top performers in the cryptocurrency market, ZEC experienced significant uptrends throughout the week. By the week’s end, it was trading at around $41, marking a substantial recovery.
According to the latest data from CoinMarketCap, Zcash emerged as the third-biggest gainer of the week, registering an impressive increase of over 27%. This notable rise in its price has boosted its market capitalization to over $672 million.
Despite this strong performance in price, the trading volume for Zcash showed a significant reduction, declining by over 40% in the last 24 hours to around 80.9 million.
Biggest losers
Lido DAO (LIDO)
Lido DAO (LIDO) experienced a challenging week, leading the losers’ chart. The week commenced with LIDO trading at approximately $1.2, but it saw a downward trajectory, ultimately closing the week at around $1.1. This represented an almost 18% decline in the week.
The market capitalization of LIDO also reflected this negative trend, standing at about $988 million, which included only minor declines despite the drop in the asset’s price.
Additionally, trading volume for LIDO decreased over the week, falling by more than 7% to approximately $70.3 million.
Maker (MKR)
Maker (MKR) experienced a tough week, starting at over $2,200 but facing significant declines in the subsequent days. By the end of the week, MKR’s price had decreased to approximately $1,961. This downward movement positioned MKR as the second-biggest loser of the week, with a decline of over 13%, according to data from CoinMarketCap.
The trading volume for MKR also saw a substantial decrease, dropping by more than 30% in the last 24 hours to around $45 million. Furthermore, Maker’s market capitalization reflected adverse price movements at around $1.8 billion.
Aave (AAVE)
Aave (AAVE), the biggest winner in the previous week, experienced a reversal in fortunes, landing among the biggest losers this past week.
Analysis of its price trend revealed that Aave started the week with a sharp 8% decline, falling from approximately $105 to around $97. While there were some uptrends during the week, they were insufficient to restore Aave’s price to the $100 range.
By the week’s end, Aave was trading at around $93, marking a further decline of over 2%. This culminated in a total weekly loss of over 12%, according to data from CoinMarketCap, making it the third-biggest loser of the week.
Source: TradingView
Also, the Relative Strength Index (RSI) was recorded at 46, indicating a bearish trend. Additionally, Aave’s market capitalization was reported at around $1.4 billion.
Furthermore, trading volume also decreased significantly, dropping by over 18% to approximately 87.2 million.
Conclusion
Here’s the weekly recap of the biggest gainers and losers. It’s crucial to bear in mind the volatile nature of the market, where prices can shift rapidly.
Thus, doing your own research (DYOR) before making any investment decisions is best.
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