Weekly Crypto Market Summary
Overview
This week, the crypto market experienced volatility with significant movements in both major and altcoins. While Bitcoin (BTC) maintained a steady presence, many altcoins saw substantial gains, notably Aerodrome, Mantle, and Lido Dao, each increasing by over 45%. Conversely, Monero, Toncoin, and XDC Network faced notable declines.
Top Performers
- Aerodrome Finance (Aero): Surged by 56%, climbing from under $0.80 to over $1.25, driven by strong trading interest and news of DEX deals on Coinbase.
- Mantle (MNT): Increased by 51.99%, reaching over $1.05, supported by bullish trading activity and backing from key industry figures.
- Lido Dao (LDO): Gained about 47%, peaking at $1.37, buoyed by strong trading volumes ahead of an upcoming Tokenholder Update Call.
Additional notable gains included Myx Finance (MYX) with a staggering 1,323.8% rise and Loan Protocol increasing by 253.1%.
Biggest Losers
- Monero (XMR): Continued a downtrend, dropping from over $300 to $270.92 due to concerns over centralization and broken support levels.
- Toncoin (Ton): Fell 10.38%, despite a brief rebound spurred by Telegram integration news.
- XDC Network (XDC): Experienced steady losses, declining from $0.093 to around $0.088.
Other notable losers included The Graphite Protocol (GP) and Infinitar Governance Token (IGT).
Conclusion
The crypto market displayed extreme volatility this week, highlighting the importance of careful analysis and strategic trading. As the market remains unpredictable, traders should stay informed and cautious.
