These are Top Five Weekly Performers in the Crypto-Market

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These are Top Five Weekly Performers in the Crypto-Market

Crypto-markets witnessed another week under selling pressure at the beginning of the week. Nevertheless, altcoins looked to build support above last week lows. Bitcoin [BTC] also rejected another bearish attempt below $10,000.

On Friday, Bitcoin gained about above 2.5% but has again fallen back to the support near $10,500.

btcusd
BTC/USD 1-Day chart on Bitstamp (TradingView)

Opening Price: $10,379

Closing Price: $10,175

Weekly Loss: 1.9%

Weekly High/Low: $10,955/$9755

XRP

XRP was one of the most underperforming cryptocurrencies during this year. The coin broke below $0.27 at the beginning of this month. However, it has been trying to build support near these levels. Ripple has continually increased its efforts in providing efficient payment and settlement services.

However, the use and taxonomy of XRP are still uncertain, which has affected its price adversely throughout the year. Nevertheless, the beginning of the week saw a slight hope of reversal.

xrpusd
XRP/USD 1-Day Chart on Bitstamp (TradingView)

Opening Price: $0.28

Closing Price: $0.283

Weekly Loss: 10.7%

Weekly High/Low: $0.0.29/$0.257

Cardano [ADA]

The weekly price action on Cardano [ADA] was similar, as it formed a reversal from bear to gains during the last few days of the week.

Recently, Cardano partnered with Korean firms which will implement Cardano for Korean digital content and mobile gaming.

ada
ADA/USD 1-Day Chart on Binance (TradingView)

Opening Price: $0.048

Closing Price: $0.051

Weekly Gains: 6.25%

Weekly High/Low: $0.054/$0.044

Tron [TRX]

Tron [TRX] has been reeling under bearish pressures for some time now. The price broke below $0.02 which was a significant psychological level for the cryptocurrency. This week there was a slight reversal witnessed during the week it touched a high of $0.19 on Friday.

trxusd
TRX/USD 1-Day Chart on Binance (TradingView)

Opening Price: $0.017

Closing Price: $0.018

Weekly Gains: 5.88%

Weekly High/Low: $0.019/$0.0159

Stellar [XLM]

The selling pressure on Stellar was excessive as the cryptocurrency broke below $0.08. Stellar [XLM] was one of the best performing coins during the 2018 bearish movements.

However, the price has currently dipped below 1-year lows. It made a slight revival above $0.07 during the end of the week.

xlmusd
XLM/USD 1-Day Chart on Binance (TradingView)

Opening Price: $0.068

Closing Price: $0.070

Weekly Gains: 2.95%

Weekly High/Low: $0.072/$0.065

Ethereum Classic [ETC]

Ethereum Classic [ETC] was the best performing cryptocurrency among the top 20 cryptocurrencies by market capitalization. The gains have been attributed to its impending hard fork which is aimed at improving the network security and efficiency. The hard fork is scheduled to occur on September 17 2019.

etcusd

ETC/USD 1-Day Chart on Binance (TradingView)Opening Price: $5.5

Closing Price: $6.8

Weekly Loss: 23.6%

Weekly High/Low: $7.8/$5.43

*The percentage dominance of cryptocurrencies w.r.t. to the total market capitalization of the market at $0.8 billion is 0.3%. Hence, for Analysis purpose, we will only consider cryptocurrencies with a total market capitalization $1 billion or more. For future analysis, we’ll try to maintain ~0.25% as a standard for the calculation.
**The data is taken at around 12: 00 Hours UTC on 18th August 2019
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These are Top Five Weekly Performers in the Crypto-Market
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Crypto-markets witnessed another week under selling pressure. Nevertheless, altcoins looked to build support above last week lows. Bitcoin [BTC] also rejected another bearish attempt below 10,000. 
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CoinGape
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Author: Nivesh Rustgi

Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com

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Nivesh Rustgi 691 Articles

Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com

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