The last quarter of 2023 hosted incredible surges in cryptocurrencies, but 2024 continues to be a volatile year. The bear market conditions that investors have not yet forgotten, which pulled Bitcoin down to the $15,000 level in 2022, ended with the price reaching $49,000 in the early days of 2024. Nevertheless, investors in the crypto market still appear to be hesitant.
This Week’s Top Earning Altcoins
In the early days of 2024, especially after the ETF decision, altcoins experienced sharp rises unlike Bitcoin. However, this did not last very long, and a negative outlook emerged in the market.
As days go by in the crypto market, the price of BTC also seems to be finding support due to the decline in GBTC sales. This situation seems to pave the way for altcoins to find support as well. So, according to CMC data, what were the top 5 earning altcoins of the past 7 days?
At the top of the list, as of the time of writing, is Chainlink (LINK). Following the news that emerged yesterday, LINK’s price soared, so to speak, with the opening of exchanges in the Asian market. Despite the decline during the day, LINK has risen by 27.67% over a 7-day period and is trading at the $18 level.
LINK’s 24-hour trading volume experienced a 29% increase and its value rose above the $1.5 billion level. The overall volume is up by 4%, exceeding $10 billion.
In second place on the list, with a weekly gain of 22%, was Ronin (RON). Despite a 1.69% drop in the last 24 hours, RON provided its investors with a 26.48% return over the past 7 days. As of the time of writing, RON is at the $2.83 level.
At the same time, Pyth Network (PYTH) saw its trading volume increase by 282% in the last 24 hours, exceeding $380 million. This surge in trading volume indicated investor interest in the altcoin.
Ronin (RON) and Pendle (PENDLE) were other altcoins that stood out this week. Over a 7-day period, RON’s price increased by 22.84% to $2.83, while PENDLE rose by 19.10% to $2.87.
Finally, Render (RNDR) ranked fifth among the altcoins that provided gains to investors over the past 7 days. RNDR experienced a relatively weak 1.5% increase during the day, but on a weekly basis, it rose by 18.57% to a price of $4.65.
Current Bitcoin Situation
In an environment where altcoins are also losing strength, the situation on the Bitcoin (BTC) side seems to be becoming more stable. Throughout the day, the price of Bitcoin traded at the $43,000 level, but it still appeared to be far from the $49,000 level seen a few weeks ago.
Bitcoin’s 24-hour trading volume was just over $18.5 billion at the time of writing, indicating a 15% decrease. Its overall volume was still below $850 billion, showing a slight decline of 0.09%.
