The cryptocurrency economy is doing well in the third week of the new year, compared to the end of 2022. It is currently valued at $993.17 billion, as many digital assets have recorded double-digit gains over the past two weeks. While some of the top ten cryptocurrencies, like bitcoin and ethereum, are performing well, a few digital currencies have outperformed a number of the top ten coins in terms of gains this year.
Top Cryptocurrency Performers of the Week: Decentraland’s MANA, Frax Share, and FTT Lead the Way
Digital Currency Markets have been in the green recently, as the main cryptocurrency, Bitcoin (BTC), rose 23.29% against the US dollar in seven days. The second digital currency by market capitalization, Ethereum (ETH), also gained 18.39% this week. In the top ten positions, bitcoin outperformed its competitors in terms of seven-day gains. However, a large number of cryptocurrencies outside the top ten have exceeded BTC‘s gains over the past week, with much higher increases against the US dollar.
For example, Decentraland MANA the token is up 88.02% this week. In the past 14 days, decentralized (MANA) gained 131.8%. While MANA’s gains have been significant, at $0.721 per unit, the digital currency is still down 87% from its all-time high on November 25, 2021. The second cryptocurrency this week is frax share ( FXS), which gained 81.69%. FXS also rose 111% against the US dollar in two weeks. The third biggest winner this week is the ftx token (FTT)as the exchange token has soared 62.82% in the past seven days.
FTT managed to gain 160.5% against the US dollar in 14 days. Another big winner over the past seven days is helium (HNT)which jumped 59.53% during the week and 92.8% in two weeks. Aptos (APT) increased by 57.21% in seven days and by 114.5% in 14 days. Other digital assets that have outperformed bitcoin and ethereum gains so far this year include solana (SOL), compound (COMP), optimism (OP), convex finance (CVX), sandbox (SAND) and gala (GALA), respectively.
Meanwhile, just as there have been a number of winners over the past two weeks, there have also been a number of losers. According to the seven-day statistics against the US dollar, the biggest loser is flare network (FLR), which lost 16.76% last week. The coin has just launched and has only been around for a little over seven days. Other losers against the US dollar this week include nexo (NEXO) and unus sed leo (LEO). After a significant rise on January 16, the cryptocurrency economy as a whole has grown by 1.47% in the past 24 hours.
What do you think explains the recent success of Decentraland’s MANA token and other double-digit earning digital assets? Share your thoughts in the comments section below.
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