As bitcoin enters a bear market, these are the 5 best performing cryptocurrencies of the past week | Currency News | Financial and business news

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Crypto

Barcroft Media

While bitcoin and ether dominate the headlines, there are over 14,000 other cryptocurrencies. With less liquidity and more volatility, these alternative cryptocurrencies can offer investors massive gains or losses in a short period of time. These are the top five performing cryptocurrencies over the past week, according to data from CoinMarketCap.

Bitcoin entered a bear market on Friday, falling more than 20% from its all-time high of $ 69,000 as concerns over a new variant of COVID-19 spread across the markets. But other cryptocurrencies perform very well despite the risk-free environment.

With 14,865 cryptocurrencies existing and counted, there are more than triple the number of crypto coins than there are stocks listed on the stock exchange in the United States. This large amount makes it almost impossible to track all the big players in the crypto industry outside of well-known coins like bitcoin, ether, and dogecoin.

The surge in the number of new crypto coins has occurred amid a massive bull market for space, with a recent rally in bitcoin helping catapult the sector to a market valuation of nearly $ 3 trillion. But the rise is also due to smaller pieces that have seen extraordinary increases this year, most notably the solana, cardano and shiba inu.

With less liquidity and more volatility, these alternative cryptocurrencies can offer investors massive gains or losses in a short period of time. Shiba inu is down about 40% from its recent high, despite an increase of millions of percentage points since the start of the year. Meanwhile, the Squid Gambling Token fell 99% in a single day after making rapid gains of 75,000%.

Keeping an eye out for weekly winners can help investors identify which coins are starting to see increased traction in the crypto community.

These are the top five performing cryptocurrencies with a market value of over $ 1 billion over the past week despite a decline in bitcoin and ether, according to data from CoinMarketCap.

5. Crypto.com coin

Symbol: CROM Market Value: $ 17.4 Billion 7 Day Return: 33.3%

CoinMarketCap

4. Basic attention token

Symbol: BAT Market value: $ 2.2 billion 7-day performance: 36.5%

CoinMarketCap

3. Zcash

Symbol: ZEC Market Value: $ 3.3 Billion 7 Day Return: 59.5%

CoinMarketCap

2. The sandbox

Symbol: SAND Market value: $ 6.3 billion 7-day performance: 67.2%

CoinMarketCap

1. Gala

Ticker Symbol: GALA Market Value: $ 5.0 Billion 7 Day Performance: 216.8%

CoinMarketCap

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