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After a recovery year for cryptocurrencies in 2023, the start of 2024 did not seem to begin well. The incredible rise from the $15,000 levels seen in Bitcoin in 2022 to as much as $45,000 in 2023 had pleased investors.
The Week’s Top Earning Altcoins
At the beginning of 2024, unlike Bitcoin, altcoins saw sharp increases. Despite the disappointing past week, some altcoins have already seen increases of over 40%, which could reach very different dimensions after a potential halving and the market’s transition to a bull season. So, which altcoins gained the most last week?
First on the list of altcoins we will examine is Flare (FLR). Despite a 2% drop in the FLR price in the last 24 hours, the gains over 7 days reached 26%. As a result of the price movement, the altcoin’s price is at $0.02264.
Despite the rise in price over the last week, a 7.6% decrease in 24-hour trading volume was observed, and accordingly, its value became $52 million. The overall volume fell by nearly 2% to $737 million.
Another notable altcoin at the top of the list is Siacoin (SC). SC caught the attention of investors with its strong rise over the past 7 days. With an increase of over 17%, the price is finding buyers at $0.01097.
SC’s 24-hour trading volume saw an incredible increase of 284%, while the value rose above $53 million. The overall volume was just over $600 million, with a drop of over 7%.
Lastly, Celestia (TIA) and Chiliz (CHZ) showed a strong outlook during a week of intense declines. The altcoins saw increases of 14% and 10% respectively since last week. The recently announced airdrop for Celestia indicates growing interest in the altcoin.
As we mentioned in a news article the other day, CHZ experienced increased purchases related to intense whale transactions, which was reflected in the price. What developments may occur in the coming days remains a matter of curiosity.
Current Bitcoin Situation
Despite the rises in altcoin prices, Bitcoin continues its painful period. The price fell from the $49,000 level to below $41,000. Bitcoin failed to recover and even lost the $42,000 level despite expectations of a rise following ETF news.
As of writing, the BTC price has fallen by 2.5% and is trading at $41,300. Bitcoin’s market cap also fell by over 2% to $810 billion. Despite the declines, an increase in trading volume indicated mixed feelings. The 24-hour trading volume rose by 32% to $27 billion.
