The cryptocurrency market is trading flat compared to last week’s levels at this time as seen with Bitcoin’s price, which remains in virtually the same place as the week’s close at $6,800. However, some cryptocurrencies have performed exceptionally well through the week –gaining double digits.
This article highlights the top five performing coins over the past week including Ethereum (ETH), Stellar (XLM) and the “notorious “non-correlated” duo to BTC” Chainlink (LINK) & Tezos (XTZ). While Bitcoin’s forks, Bitcoin Cash & Bitcoin SV, both experienced their first-ever halving this week, their price performance has been rather underwhelming hence the exclusion.
The top five cryptocurrencies April 4-11
A pattern is forming on the price movements of Chainlink, the decentralized oracle, as yet another week saw the coin gain over 35% to top the $3.00 mark for the first time since early March. As at the time of writing LINK trades at $3.16 representing a slight 0.7% drop in the past 24 hours but on the wider scale gained 38.7% in the past week.
The second-largest cryptocurrency has also witnessed a double-digit soar in the past week – rising past $155, representing a 10.80% increase. However, since the BCH and Bitcoin SV halvings, the altcoin market has reacted poorly and ETH was no exception.
Shortly after hitting key resistance at $177 provided by the SMA 50 line on 8th April, bears took control of the market. Currently the price stands at $155.40, and needs to beat the $157 mark before the weekly close, which may effectively force the start of a potential bull run on the pair.
Another spectacular growth coin –similar to LINK – is Tezos (XTZ). XTZ/USD currently trades at $1.96, a slight drop from intraday highs of $2.01 in the closing moments of the Asian trading market.
Some of the honorable mentions include Stellar (XLM) which witnessed a 19.8% growth over the past week, Algorand (ALGO) – 13.3% growth in a week topping $0.18 and Dash (DASH) at 10% growth.
Images sourced from Coinstats.