Market Week in Review: Crypto’s Highs and Lows With ICP and SNX Leading the Charge and Retreat

Over the past week, bitcoin and ethereum experienced modest declines, ranging from 1.8% to 3.6%, when compared to the U.S. dollar. Concurrently, several crypto assets showcased impressive double-digit growth, with ICP, HNT, BONK, and WOO leading the surge throughout these seven days.

16 Crypto Assets Record Double-Digit Gains, 8 Witness Double-Digit Losses

Commencing on Monday, Dec. 18, 2023, the crypto market is valued at $1.61 trillion, marking a slight decrease of 1.9% from the previous day. As the holiday season approaches, global trading volumes have dipped, yet in the past 24 hours, a notable $76.24 billion was traded, a significant 30% increase from the day before.

Throughout the week, internet computer (ICP) emerged as the top performer, soaring by 85.5%. Helium (HNT) also saw a remarkable rise of 68.9%, while the meme coin bonk (BONK) escalated by 68%. Additionally, woo network (WOO) appreciated by 57.1% against the dollar. Among the more than 11,000 cryptocurrencies listed, 16 experienced double-digit growth this week.

Other notable performers this week included OSMO, INJ, ASTR, FET, TKX, STX, TIA, BGB, and GT. Besides BTC and ETH, XRP, SOL, and AVAX were prominent in trading volume. Despite this, XRP dropped by 4.4% over the week, while SOL increased by 3.1%, and AVAX surged by more than 10%. Other high-volume traders like DOGE, BNB, LINK, and ADA also remained in the spotlight.

On the other end of the spectrum, synthetix network (SNX) emerged as the week’s most significant loser, declining by 21.1%. BTT fell by 16.7%, LUNC by 15.9%, and KAS by 13.9% over the same period. Eight cryptocurrencies in total registered double-digit losses, with MINA, XEC, EGLD, and LDO also among the notable decliners.

As the year draws to a close, market uncertainty remains a prevalent theme, particularly in the altcoin sector. Historically, the holiday season often witnesses a stagnation in crypto trade volumes, with investors showing caution amidst festive distractions and year-end reflections. This period typically sees flat trading activity, underscoring the cautious sentiment prevalent in the market during these final weeks of the year.

What do you think about the week’s biggest crypto gainers and losers? Share your thoughts and opinions about this subject in the comments section below.