Crypto Week at Glance: Top 5 Crypto Gainers as of August 18

The recent week in the cryptocurrency market has witnessed a notable downturn, resulting in substantial losses across a range of digital assets. This decline in prices has undoubtedly caused a sense of panic among investors, and enthusiasts, highlighting once again the inherent volatility of cryptocurrencies.

Also read: What is a Cryptocurrency?

In light of these circumstances, it becomes imperative to delve deeper into the market and examine the top 5 cryptocurrencies that have managed to buck the trend and emerge as gainers amidst this challenging environment.

According to Coinmarketcap, a popular cryptocurrency price-tracking website, there are currently over 1.8 million cryptocurrencies being traded across more than 660 exchanges. The total market capitalization of the cryptocurrency market stands at a staggering $1.06 Trillion. Bitcoin (BTC) remains the dominant player in the market with a share of 48.4%, closely followed by Ethereum (ETH) at 19.1%. 

Bitcoin and Ethereum are both trading in a bearish trend. Bitcoin price has fallen down to 9.57% since last week and is currently trading at $26,565.37. Ethereum has dropped 8.36% and is currently trading at $1,691.38 at the time of writing.

Let’s find out the cryptocurrencies that have a Bullish ride this week.

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TOP 6 CRYPTO GAINERS this week

1. SEI: 1937.02% INCREASE

Price: $0.1627

Market Cap: $292,513,919

Volume (24h): $555,267,356

Sei is the first sector-specific Layer 1 blockchain, specialized in trading to give exchanges an unfair advantage. SEI is trading under the red zone for two days. It started at a price of 0.2001 on the 15th and reach its peak of 0.272 on the 16th of August.

2. THORChain: 33.30% Increase

Price: $1.46

Market Cap: $495,830,671

Volume (24h): $93,522,971

THORChain is a decentralized liquidity protocol that allows users to easily exchange cryptocurrency assets across a range of networks without losing full custody of their assets in the process.

The price of Thorchain on Aug 11th was 1.0836 and it reached as high as $1.6449 on Aug 16th and is currently trading in green.

3. TONCOIN 7.08% Increase

Price: $1.34

Market Cap: $4,573,160,590

Volume (24h): $27,327,054

Toncoin (TON) is a decentralized layer-1 blockchain developed in 2018 by the encrypted messaging platform Telegram. The project was then abandoned, taken over by the TON Foundation, and renamed from “Telegram Open Network” to The Open Network.

The price on 11th August was $1.259 and reached the maximum of $1.50 on Aug 16. The crypto is currently trading in Green even though the dropped a bit.

4. Gemini Dollar: 1.27% Increase

Price: $0.9989

Market Cap: $361,067,357

Volume (24h): $773,219

The Gemini Trust Company (Gemini) is a digital currency exchange and custodian that allows you to buy, sell and store digital assets, founded in February 2014. The GUSD is created by the cryptocurrency exchange Gemini.

5. TETHER USDt: 0.09% Increase

Price:$0.9997

Market Cap: $82,813,280,191

Volume (24h): $51,703,013,674

Tether is a blockchain-enabled platform designed to facilitate the use of fiat currencies in a digital manner that was launched in 2014.

It is crucial for investors and enthusiasts to exercise caution and approach their investments with thorough research. The current plunge in prices highlights the inherent volatility of cryptocurrencies. In light of this, it is essential to carefully analyze and evaluate the potential risks and rewards before making any investment decisions. By being diligent and well-informed, individuals can navigate this volatile market with greater confidence and mitigate potential losses.