- SPX6900, Fartcoin and Ethena were the biggest gainers last week.
- Bitget Token, Hyperliquid and OKB were the biggest gainers at the other end of the table.
The cryptocurrency market continues to display its characteristic volatility, bringing a mix of bumper gains and significant losses this week.
From the explosive rally of SPX6900 (SPX) to the bearish fall of Bitget Token (BGB), market participants have witnessed dramatic changes in sentiment and price movements.
This article provides a comprehensive analysis of the biggest gainers and losers, analyzing the factors behind these trends and what they may mean for the week ahead.
The biggest winners
SPX6900 (SPX)
The SPX6900 became the star of the week, offering a remarkable 45% increase. It started the week at $0.9157, seeing a modest 3% rise before volatility hit, causing a 6% decline.
This initial pullback may have shaken up the weaker hands, but it set the stage for an extraordinary rally. On January 2, the SPX gained nearly 26% in a single session, driven by bullish sentiment and robust market momentum.
The rally pushed the SPX past key psychological resistance levels, demonstrating strong investor interest. At the end of the week, it closed at $1.3240, strengthening its position as the best-performing cryptocurrency.
From a technical perspective, the SPX’s ability to consistently post higher highs indicates bullish strength.
Although such explosive growth often invites profit-taking, the sustained interest points to further potential gains in the near term, particularly if overall market conditions remain favorable.
Farcoin (FARTCOIN)
Fartcoin (FARTCOIN) secured second place among the week’s top gainers with a 35% increase despite a rocky start. The week began with a 12% decline to $0.8655, reflecting bearish sentiment.
However, the token rebounded strongly, fueled by speculative buying and renewed market confidence.
The most notable rally took place on January 2, when FARTCOIN peaked at $1.5230, benefiting from strong buying pressure. This rise highlighted the power of market sentiment in driving price action.
By the end of the week, profit-taking led to a 6% decline, closing at $1.4261.
From a technical perspective, FARTCOIN’s resilience in recovering from sharp declines and maintaining gains highlights strong investor interest, although short-term corrections remain possible.
Ethena (ENA)
Ethena (ENA) had a strong performance, closing the week with a 26% gain. Starting at $0.94, the token initially showed a slight decline but quickly rebounded.
The pivotal moment occurred on January 3, when ENA surged more than 17%, reaching $1.21. This sharp rise was due to increased buying pressure as investors became more optimistic.
Source: TradingView
At the end of the week, ENA stabilized at $1.23, demonstrating its strength in a context of market volatility.
Technical indicators such as Bollinger Bands suggest increased price volatility, with ENA frequently testing its upper band, characteristic of bullish momentum.
Additionally, the MACD remained in positive territory, thus confirming the upward pressure. However, traders should remain cautious as quick gains can trigger profit-taking.
Top 1,000 winners
Beyond the top 100, small-cap tokens have generated extraordinary returns.
Black Agnus (FTW) led the charge with a staggering 3,900% increase, followed by CatX (CATX) and MOG PEPE (PEPE), which saw gains of 3,480% and 2,826%, respectively.
The biggest losers
Bitget Token (BGB)
Bitget Token saw the steepest decline among major tokens, falling 22% this week. It started trading at $6.3 but immediately faced bearish momentum, resulting in a sharp 16% decline.
Despite brief attempts to recover mid-week, BGB ended the week at $6, firmly in a downtrend.
Technical analysis reveals that BGB was approaching its 50-day moving average, which could act as a support level. However, the lack of strong buying interest raises questions about its ability to rebound.
This sharp decline could be part of a broader market correction, with traders likely waiting for clearer signs of recovery before committing.
Hyperliquid (HYPE)
Hyperliquid (HYPE) recorded a weekly decline of 12%, ranking as the second largest loser. Starting at $27.5, the token faced constant selling pressure, bringing it down to $25 by the end of the week.
Despite slight attempts at recovery, HYPE’s trajectory remained bearish, reflecting broader uncertainty in the market.
From a technical perspective, HYPE was testing critical support levels, with its current volatility indicating investor apprehension.
Even though its fundamentals remain strong, market indecision suggests traders may remain cautious until more favorable conditions emerge.
OKB (OKB)
OKB (OKB) had an up-and-down week, finishing as the third-largest loser with a 3% decline. OKB finished the week as the third largest loser, posting a 3% decline.
The token started at $50, falling earlier this week due to bearish sentiment. Midweek, it attempted a rally, testing the $51 resistance level, but the lack of sustained momentum limited its upside potential.
OKB closed at $50.5 at the end of the week, providing some stability but leaving traders uncertain about its next move.
Source: TradingView
The RSI for OKB is hovering near neutral, reflecting balanced buying and selling pressure.
Although the token has remained above its 50-day moving average, cautious trading volumes suggest that market participants should wait for stronger signals before re-entering the market.
Top 1,000 losers
Outside of the top 100, the largest losses were seen in speculative tokens.
Hot Doge (HOTDOGE) saw a dramatic 99% decline, followed by TRUMP DOGS (DOGS) and TRUMP MEME (MEME), which fell 98% and 97%, respectively.
Conclusion
SPX6900, FARTCOIN and ENA demonstrated the market’s potential for explosive growth, while BGB, HYPE and OKB reminded traders of the challenges posed by bearish momentum.
Here’s the weekly recap of the biggest winners and losers. It is essential to keep in mind the volatile nature of the market, where prices can change quickly.
So it is best to do your own research (DYOR) before making any investment decisions.
