- >Price Check: Chainlink Rebounds in a Big Way
Price Check: Chainlink Rebounds in a Big Way
It was a fairly standard week in the cryptocurrency market as Bitcoin rose up to nearly $7,500 again before dropping back down to around $6,700. Chainlink was the big outlier as it made a big move up the charts after falling down in previous weeks.
Evan Jones | Oct 12, 2020
In this weekly segment we will be looking at the top gainers and losers of the week. This will be done in terms of dollar value with a focus on percentage gains of coins within the top 50 by market capitalization. There may be some exceptions to this but for the most part we will be focused on the biggest portion of the crypto market. In addition there will be a section on cryptos that have lost value when trading them for Bitcoin.
Each week we will also take a look at Bitcoin’s performance, and how it has performed both compared to last year at this time, and its comparative performance to the Dow Jones and S&P 500.
Let’s look at the biggest winners and losers of the past week.
Biggest Dollar Increases
Of the top 10 cryptocurrencies by market cap, the biggest gainer this week in terms of dollar value was Chainlink (LINK), gaining over 30% in value and reaching around $3.30 a piece. Though it is currently ranked 11th by market cap, it’s close enough to the top 10 that we will count it as part of the top 10. Chainlink made a huge gain of over 80 cents a piece over the past week, reclaiming a position it held before all the markets crashed over a month ago.
Almost no other crypto in the top 25 made positive gains over the past week. It is worth mentioning that Tezos (XTZ), currently ranked 10th, just ahead of Chainlink, also had a positive week with just over 7% gained, bringing its value to just over $1.90 a piece.
Of the top 25 cryptocurrencies by market cap, the only other positive gainer by dollar value was Dash (DASH), ranked 20th, which saw a dollar value increase barely over 1% that brought its value to over $71 per.
Expanding out to the top 50 cryptocurrencies by market cap, the biggest gainer by dollar value for the week was Bitcoin Gold (BTG), ranked 37th, which saw a dollar value increase of over 25%, bringing its value up to about $9.60 a piece.
Biggest Dollar Decreases
Of the top 10 cryptocurrencies by market cap, the biggest loser was Bitcoin Cash (BCH), which lost nearly 11% in value and is currently worth just under $220 each.
EOS, ranked 9th, also had a bad week and lost just over 6% in value and is currently worth around $2.40 a piece.