The past week has been particularly lucrative for the cryptocurrency market, with the total capitalization soaring to $2.55 trillion, marking an increase of over $150 billion. While Bitcoin may not have been the top performer, it certainly made waves by surging 11% in just seven days. The price of Bitcoin experienced a significant uptrend starting from July 14th, reaching a high of $68K before facing resistance from bears. Currently, Bitcoin is undergoing an intraday correction, trading below $67K. Nonetheless, its remarkable performance has had a positive impact on overall market sentiment, which is currently leaning towards Greed with a score of 74 – a stark contrast to the Fear score of 33 from the previous week.
Interestingly, meme coins have dominated the list of best performers in the past week, with four out of the top 6 spots belonging to these quirky tokens. Leading the pack is POPCAT, a cat-themed meme coin that saw a 60% increase in value. Following closely behind are dogwifhat, WIF, PEPE, and FLOKI – all experiencing notable gains ranging from 33.4% to 53%. Additionally, Arweave (AR) and Core (CORE) saw significant increases of 40% and 37% respectively. Other standout performers include INJ, BONK, JUP, RUNE, TAO, and Mantra’s OM, all of which saw their prices surge by around 30%.
Despite the overall positive trend, a few altcoins such as UNI, AAVE, TRX, TON, ADA, and EGLD experienced minor losses during the week. UNI, in particular, was the worst performer among them, recording a modest decline of just 5%. However, the majority of cryptocurrencies showcased growth, reflecting a bullish sentiment in the market. With Bitcoin leading the charge and meme coins capturing investors’ attention, the cryptocurrency market continues to be a dynamic and exciting landscape for traders and enthusiasts alike.