- >Price Check: ETH Hits All-Time High, Altcoins Poised for Breakout?
Price Check: ETH Hits All-Time High, Altcoins Poised for Breakout?
Bitcoin is once again trending into stablecoin territory over the last couple weeks. The normally volatile cryptocurrency has had some swings but it always seems to return to the upper $50,000 range. No big breakout but it’s not falling much lower either.
Bitcoin’s relative stability has allowed altcoins to make some big moves over the past week with Ethereum hitting an all-time high while others have done the same to an even greater extent. Overall, a great week for the crypto market.
Evan Jones | Apr 7, 2021
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 Index.
Let us look at the biggest winners and losers of the past week.
Biggest Dollar Increases
The stability of Bitcoin has allowed altcoins to have a great week, with more than one asset gaining over 100%.
It may be just the beginning of altcoin season as assets looks to cover the ground left by Bitcoin’s jump to a 3x all-time high over the past few months. Here are the biggest gainers from the past week:
- Ethereum (ETH), ranked 2nd, has gained just under 20% and is trading around $2,130 a piece, hitting an all-time high of $2,152 on April 2, 2021.
- Binance Coin (BNB), ranked 3rd, has gained over 35% and is trading around $372.98 a piece. The native token of Binance Exchange and its smart chain has reclaimed the 3rd spot by market cap and reached an all-time high of $381 earlier today.
- Polkadot (DOT), ranked 5th, has gained nearly 30% and is trading around $44.49, also hitting an all-time high a couple days ago at $46.85.
- Ripple (XRP), ranked 7th, has gained over 31% and is trading around 74 cents a piece.
- Filecoin (FIL), ranked 11th, has gained nearly 44% after gaining 60% last week and is trading around $183.02 a piece.
- Tron (TRX), ranked 16th, has gained an enormous 108% and is trading around 13 cents a piece.
- BitTorrent (BTT), ranked 19th, is our biggest gainer of the week with a ridiculous gain of over 220% and is trading at a little over 1 cent a piece, another all-time high.
- VeChain (VET), ranked 22nd, has gained over 17% and is trading at an all-time high of over 10 cents a piece.
- Solana (SOL), ranked 23rd, has gained 32% after gaining 15% last week and is trading around $24.41 a piece and hit an all-time high of over $25 a couple days ago.
- EOS, ranked 24th, has gained over 48% and is trading around $6.33 a piece.
- Holo (HOT), ranked 27th, has gained a whopping 166% after gaining 62% last week and is trading at just over 3 cents a piece, another all-time high.
- Compound (COMP), ranked 46th, has gained over 36% and is trading around $517.64 a piece.
- Stacks (STX), ranked 51st has gained over 77% and is trading around $2.23 a piece. It also hit an all-time high this week of over $2.80.
- THORChain (RUNE), ranked 52nd, has gained over 64% and is trading around $10.27 a piece. All-time high was hit at $10.92 yesterday.
Biggest Dollar Decreases
As is the case with the crypto market, a lot of this week’s big decreases are assets that made nice gains last week but overall, there are very few losers this week. Here are the biggest losers from the past week:
- THETA, ranked 12th, has lost 12% after gaining 27% last week, the correction being due after weeks of sustained growth. THETA is trading around $11.71 a piece.
- Klaytn (KLAY), ranked 17th, has lost 10% after gaining 32% last week and is trading around $3.63 a piece.
- Terra (LUNA), ranked 21st, has lost almost 5% after losing over 10% last week and is trading around $18.42 a piece.
- Kusama (KSM), ranked 37th, has lost just under 20% after gaining 23% last week and is trading around $450.99 a piece.
- Chiliz (CHZ), ranked 43rd, has lost over 8% and is trading at just under 50 cents a piece.
- Hedera Hashgraph (HBAR), ranked 45th, has lost almost 20% after gaining the same last week and is trading around 33 cents a piece.
Biggest Losers Trading Against Bitcoin
While the assets in the biggest dollar decrease section are the biggest losers of Bitcoin value, there are still other assets that have lost value trading for, and there are actually no other losers I the top 50 so we will look beyond this week. Here are the biggest losers trading for Bitcoin:
- Theta Fuel (TFUEL), ranked 59th, has lost almost 8% trading for Bitcoin.
- UNUS SED LEO (LEO), ranked 60th, has lost almost 5%.
- SushiSwap (SUSHI), ranked 61st, has lost a little over 1.5%.
- Polygon (MATIC), ranked 63rd, has lost almost 3%.
- Pundi X (NPXS), ranked 67th, has lost almost 11%.
Will Bitcoin Break $60k?
Bitcoin keeps teasing the $60k threshold but seems unable to stay over for any significant period of time. Its continued rangebound behavior has allowed altcoins to take off which leads one to wonder if Bitcoin will join the party. Regardless, staying over $55k is nothing to complain about.
Currently trading around $59.6k, Bitcoin is beyond overshadowing its price from this time last year. On April 5, 2020, Bitcoin was trading at just over $6.7k, so it is almost 9x higher than it was last year at this time.
Bitcoin Keeps Up with Traditional Markets
With just over 2.5% gained by Bitcoin this week, it is staying in line with the traditional markets even though overall it is grossly outperforming them.
The Dow Jones Industrial Average has gained a little over 1.5% and the S&P 500 Index has gained a little over 2.5%. With cryptocurrency and Bitcoin performing so well, it may soon be pointless in acting like the two markets are related in any way.