Weekly Price Analysis: Coins Bleed Heavily As Panic Grips The Crypto Market

The crypto space experienced a considerable loss last week. Bitcoin still remains the top cryptocurrency in terms of market capitalization and daily traded volume. Here is a list of some cryptocurrencies and their market performance.

IOTA (MIOTA)

appearing first on our list, MIOTA, according to stats on CoinMarketCap (CMC) is the 17th largest coin by market capitalization. It records a market cap of $717.05 million and maintains it’s daily trading volume at $3.63million as at the time of writing this piece. During the course of the week, the coin had gained 8.43% making it the highest gainer of the week. MIOTA, like XLM, got a boost within the week. Surging up to $0.31 per coin, MIOTA had moved up by 29.16% on Friday and had also corrected since then. MIOTA presently trades at $0.25

MIOTA
Chart Source by TradingView

Opening Price: $0.279

Closing Price: $0.257

Weekly Loss: 8.43%

Weekly High/Low: $0.293/$0.245

STELLAR (XLM)

Stellar was the best performing coin of the week with a significant percentage gain of 16.57%. The coin particularly made massive gain within the week when alt coins began to push up the charts in a period which many confused as the beginning of the long-awaited alt season. The coin started out around $0.04 per unit on the 15th of September and had moved up about 50% by Thursday when it touched $0.087 per coin. However, when the short bull markets ended, the price dropped and the coin now trades at $0.068.

clm
Chart source by tradingView

Opening Price: $0.057

Closing Price: $0.057

Weekly Loss: 16.57%

Weekly High/Low: $0.069/$0.054

TRON (TRX)

TXR is perhaps the coin whose underlying project has seen the most significant progress recently. The coin makes our list as it recorded a significant 24.54% within the last 7 days. As the 13th ranked coin on CMC, TRXusurps competitors like BNB, XMR and BSV to make it to the top five gainers of last week. TRX’s most significant moment of the week was touching $0.018 on the 18th of September before finally correcting back to its present price of $0.0169. Market cap is at $871.76 billion while trading volume hovers around $544.66million.

Opening Price: $0.0166

Closing Price: $0.013

Weekly Loss: 24.54%

Weekly High/Low: $0.017/$0.0125

TRX chat
TRX chat

Bitcoin (BTC)

 Bitcoin began the week on a bearish note. The top cryptocurrency had fallen steeply from its previous price of $10,031 on Sunday morning to its current price of $8,069 in the early hours of today. This represents a 19.79% fall. Though the percentage of the dip is relatively large given the kind of volatility the crypto market has seen earlier, bitcoin slipping below the $10k support level alongside a bull run seen in alts within the same period of time raises several question.

Opening Price: $10,031

Closing Price: $8,203

Weekly Loss: 19.79%

Weekly High/Low: $10,054/$7978

BTC chart
BTC chart

The post Weekly Price Analysis: Coins Bleed Heavily As Panic Grips The Crypto Market appeared first on Coingape.