While Bitcoin has been consolidating for a few days now, a number of other digital assets have seen solid gains over the course of seven days. Both the metaverse and the irrational sandboxes are up over 170% over the past week. Crypto assets like loopring, crypto.com coin and arweave are up over 66% and even 169% this week as well.
Sandbox, Decentraland, Loopring See triple-digit gains this week
Bitcoin (BTC) price has consolidated above the $60K region for a while now and the market performance this week has been rather weak. While Bitcoin (BTC) has gained 0.5% over the past seven days, three of the top ten cryptocurrencies have seen double-digit gains this week.
Binance coin (BNB) holds the third largest market in terms of overall valuation, which rose by 24.1% last week and traded at $610 per BNB. Solana Exchange (SOL) at $235 per unit is up 20.9% this week. Additionally, polkadot (DOT) is up 21.9% and is currently unchanged at $51.29 per unit.
While binance, solana, and polkadot have seen double digits this week, sandbox, decentralized and loopring prices are up this week. The Sandbox (SAND) jumped 175.3% and the decentralization index (MANA) jumped 172.9% in value terms. During the week, the LRC increased by 169.4%.
SAND ranks 78 out of 10,390 coins in the crypto-economy with the crypto-asset gaining 8,039% year-to-date. Similarly, decentralization (MANA) has performed very well over the past 12 months as it is up 3931% year-to-date. 12 Months for the Ring (LRC) stats show that the cryptocurrency is up 1025% over the past 12 months.
Many Double Digit Cryptocurrencies – Bitcoin Dominance Close to Sinking Below 40%
After three-digit crypto gains, crypto.com (78.6%), arweave (66.2%), kadena (64.4%), holo (41.3%), chilis (40.8%), core attention token (39.4%), amp (39%), NEM (33.9%), omg network (31%), enjin coin (28.4%), and Wonderland (25.1%) have seen double-digit gains in the past week.
The total market capitalization of all coins currently in excess of $10,000 is approaching $3 trillion at around $2.835 trillion on Friday, November 5. While there are $152.28 billion in global trade volume, $83 billion of this volume is paired with stablecoins. Tether (USDT) accounts for $71.9 billion of today’s total trade volume of $83 billion.
Of the $2.835 trillion in value recorded on Friday, Bitcoin (BTC) dominance is just over 40% at 40.6%. On the other hand, Ethereum owns 18.7% and several alternative crypto caps have increased their dominance ratios.
What do you think of the cryptocurrency market action last week? What do you think of the two- and three-digit cryptocurrency gainers this week? Tell us what you think about it in the comments section below.
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