After an incredible 2023 filled with unbelievable stories, the year 2024 seems to have descended like a nightmare upon investors. The process that had pulled Bitcoin down to $15,000 in 2022 ended with an incredible rise to $45,000 in 2023, but it was still a year where the old losses were not fully recovered.
The Week’s Top Earning Altcoins
At the beginning of 2024, altcoins were experiencing sharp rises unlike Bitcoin, but this trend seems to be ending. As days go by, the decline in BTC price continues, and it appears that altcoins no longer have the strength to resist. So, which were the last six altcoins standing over the past 7 days according to CMC data?
At the top of the list, as of the time of writing, was Siacoin (SC). Despite the signs of the recent sharp rise diminishing, SC was still at the top of the list. Over a 7-day period, SC experienced a 23.65% increase and was trading at $0.01345.
SC’s 24-hour trading volume saw a relatively weak increase of 6%, yet the value was at $55 million.
In second place on the list was another altcoin, Ronin (RON), which gained over 10% last week. Despite a 2.34% drop in the last 24 hours, RON attracted attention with a 15.9% gain for its investors over the last 7 days. As of the time of writing, RON was finding buyers at $2.19.
The 24-hour trading volume of Ronin (RON) also reached $21 million, indicating a 12% increase, which could also be interpreted as growing investor interest.
PYTH and MANTA were other altcoins that caught attention this week and were heavily discussed in market news. Perhaps what brought them to this list were the announcements of airdrops. Over a 7-day period, PYTH’s price increased by 9.54%, while MANTA saw a 6.79% increase.
Lastly, Astar (ASTR) and Flare (FLR) were among the altcoins that provided gains to investors over the past 7 days. ASTR and FLR respectively saw increases of 3.79% and 2.46% from the previous week.
Current Bitcoin Situation
In an environment where altcoins are also losing strength, things still do not seem to have settled on the Bitcoin (BTC) front. Earlier today, the price fell below the $39,000 level, whereas just a few weeks ago, it had risen above $49,000.
Following the ETF news, the developments centered around Grayscale and FTX have made it a subject of curiosity as to how low the price can go. As of the time of writing, the BTC price had experienced a 2% drop and was finding buyers at $39,200.
There was also a 2.39% decrease in trading volume, falling below the $30 billion mark, suggesting a decline in investor interest. The overall volume had receded to $768 billion as of the time of writing.
