Since earlier this year, the crypto market has been subject to great trials and tribulations. Many cryptos ended up losing a considerable part of their value and have failed to recover ever since. Factors including the FTX downfall have inevitably resulted in investors losing confidence. Many of them engaged in continuous selling of their holdings.
As a result, many cryptocurrencies lost their value even further. Things have started to improve in the crypto market as a number of cryptocurrencies actually displayed signs of going back up. As of now, many cryptocurrencies have closed the week in green.
Top Gainers in the Crypto Market
These are some of the cryptocurrencies that gained considerable value in the last week:
- BTC: Bitcoin lost more than half of its value during the crypto winter. For the longest possible time, Bitcoin was believed to be a hedge against inflation. But that belief was inevitably rendered untrue. In the last seven days, Bitcoin has increased by approximately 1.83%. At the time of writing, the coin is currently trading for $17,241. The coin has a total market cap of approximately $331.63 billion.
- ETH: The next crypto on the list is Ethereum. ETH is among the many cryptocurrencies affected by uncertainties within the crypto market. Over the course of the previous seven days, crypto is up by a respectable 1.12%. At the time of writing, ETH is trading for approximately $1,289. Ethereum currently has a market capitalization of $157.578 billion.
- BNB: BNB is another coin that displayed an increase this week. Over the previous seven days, the crypto managed to push its price upwards. BNB is currently trading for $291.
- ADA: Another cryptocurrency to increase this week is ADA. La moneda is currently trading for approximately $0.31.
- SOL: Over the past week, Solana displayed an increase of an impressive 2.51% and is trading for $9.
- DOGE: The popular meme coin surged in value right after Elon’s acquisition of Twitter. At the time of writing, the meme coin is trading for approximately $0.098.
Cryptocurrencies are highly volatile, and any shifts in the crypto market result in great losses or profits. Based on the increase this week, it is evident that investors have regained some confidence in investing in cryptocurrencies. It is hard to say how long this will last.