The cryptocurrency market is seeing significant declines this week, with many top cryptocurrencies seeing double-digit gains. Overall, the cryptocurrency market capitalization has surged more than 8% over the past seven days.
At the forefront are cryptocurrencies that have posted huge returns, including several that have more than doubled in value.
There have been vivid signs of life across the cryptocurrency ecosystem this week, with a mix of hype around innovative new projects, momentum from the Bitcoin rebound, and a broader preference for riskier crypto assets. Coin prices have soared for both new cryptocurrencies that have just debuted and established platforms.
Bonk (205.91%)
BONK saw a huge price rise this week, soaring more than 200% in value. It rose from $0.0000396 to $0.0001219.
BONK is a dog-themed meme coin built on the Solana blockchain that launched Christmas 2022. We airdropped 50% of the supply to Solana NFT holders and developers. This coin aims to become a community token used across the Solana app.
Ordi (133.07%)
ORDI has delivered stellar triple-digit returns this week, with its price soaring 133%. It rose quickly from $21.55 to $50.44.
ORDI is a Bitcoin-based token that allows data to be embedded in satoshis, the smallest unit of Bitcoin. This demonstrates BTC’s ability to support fungible tokens through the Ordinals protocol.
BitTorrent (114.88%)
Fueled by speculation, BitTorrent’s BTT token has risen 115% in the past seven days. It soared from $0.00000473 to $0.000001013.
BitTorrent is a popular P2P file sharing network acquired by TRON in 2018. BTT tokens allow platforms to share bandwidth resources.
Helium (57.89%)
Helium’s HNT is up 58% this week as its price rebounds. It rose from $3.01 to $4.75.
Helium operates a decentralized blockchain-based network that connects IoT devices using hotspots. HNT is used to pay for connectivity and coordinate the network.
Terra Classic (43.99%)
LUNC made a significant recovery this week, regaining 44% of its value. It closed at $0.00014, up from $0.00014 this week.
LUNC is the native token of the original Terra blockchain. The Terra stablecoin collapsed and was abandoned after the new Terra chain was launched.
Pepe (42.18%)
Meme token Pepe rose 42% amid the hype. It rose from $0.0000011 to $0.000001572.
Pepe is a deflationary meme token on Ethereum that pays homage to the popular Pepe the Frog internet meme.
Cardano (40.20%)
ADA is up 40% this week, recording its fourth consecutive green day. It closed at $0.5396 from $0.385.
Cardano is a proof-of-stake blockchain for running decentralized apps and smart contracts using Ada as its native token.
Beam (37.74%)
Beam’s price is up nearly 38% compared to the previous week. It rose from $0.0111 to $0.01532.
Beam is a privacy-focused cryptocurrency that uses a GPU-minable proof-of-work algorithm to obscure transaction details.
Avalanche (34.35%)
AVAX rose 34% from $21.80 last Friday to hit a high of $29.28.
Avalanche is a high-speed blockchain for launching decentralized finance apps, NFTs, and enterprise solutions using AVAX tokens.
Stack (33.74%)
STX rose from $0.77 to $1.04, ending the week up 35%.
Stack provides smart contracts and apps on the Bitcoin blockchain with a two-way peg to BTC. STX tokens power the network.
This week’s notable gains represent a microcosm of some of the most interesting and enduring niches and stories in the cryptocurrency industry. From meme coins bringing fun to the cryptocurrency community to projects expanding the usefulness of Bitcoin to developers flocking back to the leading smart contract platform, this week had it all.
Since cryptocurrency prices often move in tandem with one another, a green flood for top coins shows new momentum and sentiment about risk.
Meme coin mania, the expansion of Bitcoin as a cryptocurrency platform, and the return of developer interest are signs that the cryptocurrency ecosystem is not going away. And with cryptocurrencies poised to emerge from the ashes of a painful bear market, the biggest weekly gainers reveal where the next generation of projects can thrive.