- FTX token, POPCAT, and Wormhole emerged as the biggest winners of the week.
- In contrast, Notcoin, Ethena and Lido DAO topped the losers’ charts.
Market volatility intensified this week as Bitcoin (BTC) declined. Nonetheless, some altcoins have broken from this trend and recorded notable gains.
Data from CoinMarketCap highlighted the overall downward trend, with less than 10% of the top 100 cryptocurrencies ending in green dominating the market.
biggest winner
FTX Token (FTT)
FTX token (FTT) is back in the spotlight two years after its collapse, starting the week with a strong gain of over 57%.
The cryptocurrency opened the week trading at around $1.4009 and closed at around $2.6921, registering an impressive 60% gain, making it the best-performing cryptocurrency of the week.
These recent price movements were sparked by speculation surrounding FTX, a defunct cryptocurrency exchange that attracted attention on social media. As a result, we saw a significant increase in trading volume.
The MACD indicator indicates a bullish crossover where the MACD line (blue) crosses above the signal line (orange). The histogram moves into positive territory, indicating increased bullish momentum.
However, despite this upward trend, the relative strength index (RSI), which rose sharply during the crossover, later reversed downward. This means that the initial buying power may weaken.
As a result, long-term upside potential may remain elusive for some time.
As of this writing, FTT is down more than 3% from the previous day’s close and trading volume has dropped significantly, down more than 65% to 25 million.
Its current market cap is $850 million, up 7% over the week.
POPCAT
Solana-based memecoin POPCAT recorded the second biggest gain of the week. It started the week up 7% at $0.9820.
This upward move reversed the bearish trend and allowed POPCAT to consolidate for a fourth consecutive day.
The biggest surge occurred on October 4th, when a breakout pushed POPCAT above $1 after an incredible 21% gain on the day.
POPCAT opened at about $0.9216 per share and closed at about $1.2134, achieving weekly gains of more than 30% based on data from CoinMarketCap.
This bullish momentum has increased POPCAT’s market cap to $1.19 billion and its current value is up 0.46%.
Wormhole (W)
Wormhole (W) rounded out the top three with a weekly gain of over 15%. It rose 4% this week to $0.3003.
However, it quickly reversed direction with a 7% drop the next day, erasing all previous gains.
Trading volume soared 286.67% from 75 million the previous day to 290 million on October 2. This surge was most notable this week as W closed at $0.3438.
A significant drop occurred the next day at $0.3180, but this was soon challenged, with W ending the week at $0.3411.
Nonetheless, trading volume has decreased by 37% in the last 24 hours, and its current market capitalization is down 2% to $877 million.
Biggest Winner Among Top 500
Sudeng (HIPPO) leads the overall market with an impressive increase of 135%, trading at around $0.01442.
Next was DIA (DIA), which rose more than 100% to $0.8321. SPX6900 (SPX) is in third place, up 99%, trading around $0.2153.
biggest loser
Notcoin (NOT)
Notcoin (NOT) hit a new daily low, falling 12% for its biggest weekly drop. We started the week with a slight decline and experienced a sharp 8% decline the next day.
Transaction volume also decreased significantly from 8 billion to 3 billion over the past 7 days.
Since the MACD line (blue) has crossed below the signal line (orange), we have not entered October at a bearish intersection. Nonetheless, a surge in trading volume on October 4th prevented the decline from getting any deeper.
Despite a slight increase to $0.007305 at the time of writing, NOT’s trading volume fell 25% in one day to $69 million. At press time, its market capitalization was down 2.5% to $748 million.
Athena (ENA)
Ethena (ENA), which closed NOT, is expected to be the next biggest weekly loser, according to CoinMarketCap data.
ENA opened the week up 6% at $0.3389 before facing a strong decline and ending the week down more than 20% at $0.2750.
ENA’s trading volume has decreased by a significant 50% and now stands at $49 million. Market capitalization decreased 5% to $789 million.
Lido Dao (LDO)
The top two weekly losers were followed by Lido DAO (LDO), which also fell more than 20%, making it the third biggest loser of the week.
Similar to NOT, LDO had a difficult week with consistent lows highlighted by a bearish crossover of the MACD line on October 1st.
The coin opened at $1.334 and ended the week at $1.051, a slight recovery from a day ago. Trading volume fell 43% to about $44 million, and market capitalization fell 2% to nearly $942 million.
Biggest loser in the top 500
The biggest decliner among the top 500 was Aleo (ALEO), down nearly 40% to $3.90. This was followed by Moo Deng (MOODENG), down 38% to $0.137.
BinaryX (BNX) also faced a setback, falling 31% to trade at around $0.7117.
conclusion
This week’s recap highlights the biggest winners and losers in the cryptocurrency market. It is important to remember the volatility of the market, where prices can fluctuate rapidly.
To stay informed and minimize risk, always do your own research (DYOR) before making any investment decisions.