- FTX token, POPCAT and Wormhole became the biggest gainers of the week.
- On the other hand, Notcoin, Ethena and Lido DAO are at the top of the losers’ ranking.
This week has seen a lot of volatility in the market, with Bitcoin (BTC) facing a pullback. Despite this, a few altcoins managed to break out of the trend and saw notable gains.
Data from CoinMarketCap highlighted an overall bearish sentiment dominating the market, with less than 10% of the top 100 cryptocurrencies ending in the green.
The biggest winners
FTX Token (FTT)
FTX Token (FTT) returned to the spotlight two years after its collapse, opening the week with a strong gain of over 57%.
It opened the week at around $1.4009 and closed at almost $2.6921, becoming the best performing crypto of the week, with an impressive 60% gain.
This recent price action was fueled by speculation around the defunct crypto exchange, FTX, which gained traction on social media. As a result, a significant increase in trading volume was observed.
Source: TradingView
The MACD indicator reveals a bullish crossover, with the MACD line (blue) crossing above the signal line (orange). The histogram has moved into positive territory, indicating an increase in bullish momentum.
However, despite this slight rise, the Relative Strength Index (RSI), which peaked during the crossover, has since reversed lower. This indicates that the initial buying strength may be decreasing.
As a result, long-term upside potential may remain elusive for now.
At the time of writing, FTT saw a decline of more than 3% from the previous day’s close, accompanied by a significant drop in trading volume, which fell by more than 65% to 25 million.
Currently, its market capitalization stands at $850 million, an increase of 7% over the week.
Popcat (POPCAT)
Solana-based memecoin POPCAT became the second biggest gainer of the week. It started the week up 7% to $0.9820.
This bullish move reversed the downtrend and allowed POPCAT to consolidate for four consecutive days.
The largest spike occurred on October 4, when a breakout pushed POPCAT above $1, following a remarkable 21% gain for the day.
POPCAT opened the week at around $0.9216 and closed at nearly $1.2134, notching a weekly gain of over 30%, based on data from CoinMarketCap.
This bullish momentum has propelled POPCAT’s market capitalization to $1.19 billion, with a current value increase of 0.46%.
Wormhole (W)
Wormhole (W) closed the week in the top three, achieving a weekly increase of over 15%. It opened the week up 4% to $0.3003.
However, it quickly shifted gears with a 7% decline the next day, erasing any gains made earlier.
Trading volume jumped to 290 million on October 2 from 75 million the day before, a staggering increase of 286.67%. This spike was the most notable of the week, with W closing at $0.3438.
A significant pullback to $0.3180 occurred the next day, but it was quickly challenged, allowing W to close the week at $0.3411.
Despite this, its trading volume fell 37% in the last 24 hours, while its market capitalization currently stands at $877 million, a decline of 2%.
The biggest winners of the top 500
Sudeng (HIPPO) took the lead with a staggering 135% increase, trading at around $0.01442 in the broader market.
Next is DIA (DIA), which rose more than 100% to $0.8321. The SPX6900 (SPX) came in third with a 99% rise, trading at around $0.2153.
The biggest losers
Notcoin (NOT)
Notcoin (NOT) hit new daily lows, leading to a 12% decline, making it the biggest weekly loser. It opened the week with a slight decline and saw a sharper decline of 8% the next day.
Trading volume also fell significantly, from 8 billion to 3 billion over the past seven days.
Source: TradingView
NOT entered October with a bearish crossover, as the MACD line (blue) moved below the signal line (orange). Despite this, a surge in trading volume on October 4 prevented a larger pullback.
Despite a slight rise to $0.007305 at the time of writing, NOT’s trading volume declined 25% in one day to $69 million. Its market capitalization stood at $748 million at press time, down 2.5%.
Ethena (ENA)
Ethena (ENA) is closing in on NOT, poised to be the next biggest weekly loser, according to CoinMarketCap data.
After opening the week at $0.3389 with a 6% rise, ENA faced a sharp depreciation, leading to a weekly decline of over 20% and closing at $0.2750.
ENA trading volume saw a significant decline of 50%, now standing at $49 million. Its market capitalization stands at $789 million, down 5%.
Lido DAO (LDO)
Just behind the top two weekly losers is Lido DAO (LDO), which was also down more than 20%, making it the third biggest loser of the week.
Similar to NOT, LDO faced a rough week with consistent lows, highlighted by a bearish crossover of the MACD line on the first day of October.
The coin opened at $1.334 and ended the week at $1.051, with a slight recovery made the day before. Its trading volume fell 43%, to around $44 million, while its market capitalization fell 2%, to almost $942 million.
The biggest losers of the top 500
The biggest loser in the top 500 was Aleo (ALEO), down about 40% to $3.90. Following closely was Moo Deng (MOODENG), which fell 38% to trade at $0.137.
BinaryX (BNX) also experienced a setback, seeing a 31% decline and trading at around $0.7117.
Conclusion
This week’s recap highlights the biggest winners and losers in the cryptocurrency market. It is essential to keep in mind the volatile nature of the market, where prices can fluctuate quickly.
Always do your own research (DYOR) before making any investment decisions to stay informed and minimize risk.
