Crypto Weekly 14-20 of June 2021
Due to the fall in Bitcoin price, many altcoins have suffered a drop in prices. The sharp drop in crypto coin prices has ushered in the much-dreaded bear market, which crypto traders and enthusiasts always seek to avoid. Amid the bear market, certain digital assets made significant gains with a steady increase in their coin price over the last seven days. However, amidst these small gains for some digital assets, the coin price of Bitcoin continues to drop.This article will provide a review of top gainers in the crypto market last week. However, this review will first take a look at the Bitcoin price in the previous seven days.
Bitcoin Coin Price Over The Last Seven Days
On June 13, 2021, the Bitcoin price increased from $35,766 to $39,529 by the end of the day. The coin price saw a further increase in value from that price value on June 14, 2021.This price increase saw Bitcoin hit $41083 on June 14, 2021. Many crypto analysts suggested that the setup for Bitcoin showed a “Dead Cat Bounce.” As a result, they expected to see significant growth in the coin price in the short and long terms. However, during this period, the coin price for many altcoins remained stagnant despite a gradual increase in Bitcoin price value.
The price prediction of many technical analysts proved to be incorrect as Bitcoin price slumped as the week progressed. By Thursday, June 17, the coin price had dropped to $37,000. There was a further price drop the next day as coin price hit $35,000. The week ended on Saturday 19, with the Bitcoin price hovering around $35,500.
This price drop is primarily down to the closure of Bitcoin mining activities in China by the Chinese government. Currently, China holds more than half of Bitcoin miners worldwide, and a forced closure to mining activities in the country would surely affect the coin price. However, investors should be bullish on the prospects of Bitcoin in the long term, as many miners will move their activities to countries that are more receptive to Bitcoin.
The week was not all gloomy for Bitcoin; at the start of the week, Tanzania’s president Samia Suluhu Hassan encouraged the Tanzanian central bank to prepare for a wider acceptance and adoption of cryptocurrencies, especially Bitcoin. The president made this speech after the adoption of Bitcoin as a legal tender in Salvador.Also, during the past week, the Tunisian finance minister Ali Kooli said during a television interview that he plans to decriminalize ownership of Bitcoin in the country. Finally, during the past week, publicly traded company MicroStrategy plan to invest another half a billion dollars in purchasing Bitcoin. Currently, the company holds 92,079 bitcoins worth over 3 billion dollars.
Top Altcoins Over The Past Week
As earlier stated, despite the sharp drop in price for Bitcoin, some cryptocurrencies made modest gains over the past seven days. Let us now review some of these digital assets. So the top gainers in our crypto weekly update are as below:
- Dingo Token (Dingo)
- TriumphX (TRIX)
- Themis (MIS)
- Zeon
- Baby DogeCoin
- IBStoken
- Conceal CCX
- Pika (PIKA)
Dingo Token (Dingo)
According to the Coinmarketcap website, the highest gaining crypto last week was the Dingo token. The Dingo token is the native for the Dingo Platform. The Dingo platform was launched in 2021 to allow users to quickly deposit BEP20 TOKENS (ANY tokens) into an NFT.In the past week, this new token increased by 1865.80% from an initial coin price of <$0.00000001 to $0.000000002418. Furthermore, the coin had a $166,119 trading volume in the past 24 hrs.Still, there is a possibility for more major price increases at its start-up stage in the future. However, such price increases will be dependent on community acceptance of the project.
TruimphX (TRIX)
This token is the second-highest gaining cryptocurrency in the past week, with coin price increasing by 361.90% during the past week. At the start of last week (Mon June 14), the coin price was $0.092. However, as the week progressed, there was a gradual and steady increase in price. By Wednesday, June 16, the coin price reached a weekly high of $0.59. however, the coin price dropped from $0.59 and ranged between $0.04 and $0.034. Currently, the coin price for this token is $0.043. Additionally, the trading volume for this token in the last 24 Hrs was $860,388 with a $524,332 market cap.
Themis (MIS)
This token saw gains that increased its coin price by 306.35% making it the third top gainer last week. At the commencement of the week, the MIS coin price $0.45. However, by Saturday, June 19, the coin price dropped to $0.211. Surprisingly, the coin price increased to $1.90 by Monday, June 21. However, the Themis coin price is currently at $0.3362. Similarly, trading volume in the last 24 hrs stands at $56,299.30
Zeon
Zeon saw a remarkable 292.27% growth in coin price within the last seven days. At the start of the previous week, the coin price 0.00047. however, significant gains were made during the week, with the Zeon coin price reaching 0.001 by Friday, June 18. This steady increase in coin price continued, with the coin price reaching a weekly high of $0.024 by Sunday, June 20. Currently, the zeon coin price is $0.001842. furthermore, the trading volume over the past 24 hrs is $183,074 with a market cap of $56,229,434.
Baby DogeCoin
This meme coin saw a 216.40% increase in its coin price during the last seven days. At the start of the previous week, its coin price was $0.000000000383. The rise in coin price now puts its value at $0.000000000749. Another major increase in price for this meme token will require a significant push from crypto enthusiasts worldwide. Concerning its future price, we can only wait and see.
IBS Token
The IBSToken also saw a small increase in coin price during the previous week. As of Monday, June 14, the coin price for this token was $0.0023. however, the value of the toke gradually increased as the week progressed. The coin price reached a weekly high of $0.083 by Saturday, June 19.Currently, the coin price for this token is $0.007273, while its trading volume in the last 24 hrs is $88,318. Similarly, the coin has a $7,758 market cap.
Conceal CCX
The Conceal token had a 189.57% increase in coin price during the last week. At the beginning of the week, its coin price was $0.43, with the coin price reaching $0.50 by Saturday, June 19. Additionally, the coin price increased in value by Sunday, June 20, reaching a weekly high of $0.95.Presently, the CCX coin price is $0.6519, while its trading volume in the last 24 hrs is $543,915. Furthermore, this token has a market cap of $7,616,635.
Pika
The Pika token also saw some increase in its coin price during the previous week. Consequently, the value of its coin price increased by 186.49%. The value of the token at the start of last week was $1.767 e-7. However, as the week progressed, the coin price gradually increased to a weekly high of $1.12 e-6 by Thursday, June 17. Currently, the coin price $0.00000048, while the trading volume in the last 24 hrs is $1,276,131.
Conclusion
These tokens were the top nine digital assets that enjoyed a significant increase in coin price during the last week. However, we must state that some of these tokens are meme coins. Please stay tuned for another Crypto News article for the next week’s crypto weekly.
