Markets
Cryptocurrency 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.
It hangs [PENDLE] failed to replicate its previous performance from last week, finding itself at the opposite end of the ranking spectrum.
Instead, the week’s biggest gainer went to a cryptocurrency almost outside the top 100 charts.
This change highlighted the volatility and rapid trend changes that can occur in the cryptocurrency market.
The biggest winners
Mog Coin [MOG]
Mog Coin [MOG] emerged as the week’s biggest gainer, according to data from CoinMarketCapOver the past seven days, this significant uptrend has catapulted it into the top 100 cryptocurrencies by market capitalization.
Specifically, MOG recorded a significant increase of 48.84% during this period.
Starting the week of June 23 at around $0.0000009, MOG initially showed a downtrend.
However, it quickly reversed this trajectory and made significant gains for the rest of the week, closing at around $0.000001.
This positive trend was also reflected in its market capitalization, which rose to over $650 million, securing its position among the top 100 cryptocurrencies.
Despite a decline of more than 4% in its market capitalization in the last 24 hours, MOG’s market capitalization remained at over $648 million.
Akash Network [AKT]
Akash Network [AKT] (AKT) emerged as the second highest gaining stock 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 downtrend.
The price chart revealed that at the beginning of the week the stock was trading at around $3, but the next day it dropped to around $2.7.
However, it showed a strong recovery during the week, closing above $3.50 at the end of the week.
Akash Network’s market capitalization was over $872 million, although it saw a slight decline in the last 24 hours.
Additionally, AKT trading volume declined by more than 29% to around $41.5 million over the same period.
Kaspa [KAS]
Kaspa [KAS] The token, not Ghost, took a slight dip at the start of the week. It fell 0.6% and was trading around $0.15 on June 23.
However, the token soon reversed its trajectory and began to rise, recording consecutive increases throughout the week.
By the end of the week, KAS was trading at around $0.19, culminating in an overall weekly gain of over 7%, placing it as the third largest gainer of the week.
Data from CoinMarketCap indicated a notable overall increase of 20.16% for Kaspa. Further technical analysis of the price action suggests that Kaspa is 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, exceeding $4.5 billion, up more than 6% in the last 24 hours alone.
In particular, it is the only asset among those that have gained the most of the week, with a market capitalization that exceeds $1 billion. Trading volume for Kaspa increased by more than 50% in the last 24 hours, reaching over $132 million.
The Biggest Losers
It hangs [PENDLE]
PENDULUM had a tough week, emerging as the week’s biggest loser, however CoinMarketCapwith a significant drop of 19.80% compared to last week.
Pendle’s price action began on the rise on June 23, opening above $6.
However, it fell quickly, ending the day at around $5.6. This downward trend continued throughout the week, with the price further falling to around $4.9 by the end of the week.
Pendle’s market cap was over $769 million, although it has fallen more than 2% in the last 24 hours.
Trading volume for Pendle was nearly $43 million, also down significantly by over 40% in the last 24 hours.
Ethena [ENA]
Ethena [ENA] has experienced a challenging week, characterized by a constant decline in its value. The token started the week with a decline, closing the first day at around $0.56.
Despite attempts to stabilize, the decline continued throughout the week, culminating in a closing price of around $0.49.
According to data from CoinMarketCapEthena’s value fell by 18.48% last week, placing it in second place among the stocks with the highest losses on the market.
At the time of writing, Ethena’s market capitalization was over $766 million, down more than 2% in the past 24 hours.
Trading volume also saw a significant reduction, dropping more than 20% to around $49.5 million over the same period.
World currency [WLD]
Wordcoin [WLD] has been on a downward trajectory in recent weeks, with recent developments intensifying this decline.
AMBCrypto’s analysis of its daily timeframe chart showed that it started the week down more than 4%, trading around $2.8.
This level, however, marked the highest point of the week, as the price faced further significant declines. By the end of the week, Worldcoin was trading around $2.5, marking another decline of over 4%.
Source: TradingView
According to data from CoinMarketCap, Wordcoin recorded a weekly decline of 16.86%, ranking third among the losing cryptocurrencies on 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 indicate a potential price rebound if buyers perceive it as undervalued and decide to step in.
The market cap was around $660 million, having fallen more than 5% in the past 24 hours. Additionally, trading volume also declined, falling more than 11% to over $126 million over the same period.
Conclusion
Here is a weekly summary of the biggest winners and losers. It is important 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.