Although the value of the crypto economy shrank by billions this week, 18 different digital assets achieved double-digit growth last week. At the same time, the top two crypto assets by market capitalization, Bitcoin and Ethereum, fell in value by 2.8% to 6.2% in 7 days.

The value of 18 crypto assets increased by double digits

According to weekly statistics, Bitcoin and Ethereum have lost some value, and many alternative digital assets have performed much better. Today, the crypto economy is worth 2.36 trillion U.S. dollars, which fell by 2.9% on the last day. Bitcoin Fell 2.8% in the past 7 days and Ethereum It has fallen 6.2% since last week. However, last week, 18 cryptocurrencies experienced double-digit gains against the U.S. dollar.

For example, Sushiswap’s decentralized exchange (dex) token Sushi (SUSHI) has risen 67% in the past 7 days. Near (NEAR) rose 57.8%, fantom (FTM) rose 49.6%, and Oasis Network (ROSE) surged 48% in a week. Other biggest weekly gains include convex finance (+35.7%), aave (+33%), theta network (+24.8%), uniswap (+19.2%), osmosis (+18.2%), kadena (+16.8%) , Iota (+15.8%) and sandbox (+15%).

Bitcoin and Ethereum fell sharply, and Huobi Global analysts said they “watch the changes in price direction”

Cosmos, polkadot, enjin, monero, celo and curve token also saw double-digit gains this week. Out of the $2.36 trillion value of more than 12,000 crypto assets, BitcoinThe dominance of Ethereum is 38.3%, while the dominance of Ethereum is 19.1%. Discuss Bitcoin (Bitcoin) Price and Bitcoin.com news, Huobi Group co-founder Du Jun stated that the price of Bitcoin is stabilizing and traders should “pay attention to changes in price direction”.

“According to data from Huobi Global, BitcoinPrices stabilized during the period [the] During the day, after a sharp decline at night, it fluctuated back and forth from US$47,500 and changed directions many times,” the co-founder of Huobi explained to our news station. “From the 4-hour K line, the three EMA lines dropped sharply. The line is located near the lower track of the Bollinger Bands, and the Bollinger Bands opened significantly expanded,” Jun added. The analyst further added:

Although the downtrend is blocked, the bears are still relatively strong, especially from the daily line.This decline leads to Bitcoin The price fell again at a similar rate after a week of rising, and there is a tendency to form a downward channel again. The possibility of a short-term rise is small. In the short term, focus on changes in the price direction and the support of the $45,500 position below.

And the value of Bitcoin (Bitcoin) And Ethereum (Ethereum) Have all declined, and many alternative crypto assets are gaining revenue in the dominant crypto market.Recently published learn Shows that altcoins have soared threefold since 2014 and 2021 Top ten crypto assets Outstanding Bitcoin and Ethereum Far ahead in terms of revenue. Despite the loss of Bitcoin (Bitcoin) Year-to-date (YTD) is still up 76.1%, and Ethereum’s year-to-date indicator shows that Ethereum has risen by 416%.

As for Ethereum (Ethereum) In terms of market, Du Jun of Huobi Global said that the Ethereum market is very similar to BitcoinMarket structure. “[The] price Ethereum After a sudden drop at night, it stabilized during the day, oscillating back and forth slightly, changing directions many times, echoing Bitcoin The price trend is now close to $3,800,” Jun added on Wednesday. Jun’s Ethereum (Ethereum) Market outlook continued:

From the 4h K line, the downward adjustment is relatively strong and the momentum is relatively large. The moving averages dropped sharply and the trading volume increased.from [the] At the daily level, the downward trend is not so obvious. In the short-term, focus on the support at the 4680 position below. Once it breaks through, a downward price trend will be formed.

What do you think of the 18 crypto assets that recorded double-digit returns in the past week? What do you think of the recent performance of these two leading crypto market assets? Please tell us your thoughts on this topic in the comments section below.

Jamie Redman

Jamie Redman is the head of news at Bitcoin.com News and a fintech reporter living in Florida. Since 2011, Redman has been an active member of the cryptocurrency community. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about destructive protocols emerging today.