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  • >Price Check: ETH Hits Another All-Time High But BNB is Exploding

Price Check: ETH Hits Another All-Time High But BNB is Exploding

Bitcoin got back above $60k again, testing the resistance it keeps facing in a hope of breaking out to a new all-time high. If it gets rejected again then it will be interesting to watch support levels, while breaking above could lead us to $70k very quickly.

In the meantime, Binance Exchange’s native BNB is absolutely exploding while other altcoins do the same, with the crypto market currently looking extremely bullish. Ethereum touched an all-time of about $2200 but overall has not moved much over the past week.

Binance's BNB coin is exploding in value.

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

While Bitcoin has not been making headlines for its trademark swings in prices, it has allowed a lot of other altcoin assets to make some good gains over the past week, with some continuing their momentum. Here are the biggest gainers from the past week:

  • Binance Coin (BNB), ranked 3rd, has gained over 49% after gaining 35% last week and is trading around $562.07 a piece. The native token of Binance Exchange and its smart chain is firmly in the 3rd spot by market cap and reached an all-time high of $637 earlier today, the second straight week of a new all-time high.
  • Ripple (XRP), ranked 4th, has gained over 86% after gaining 31% last week and is trading around $1.34 a piece. Our biggest gainer of the week in the top 50.
  • Dogecoin (DOGE), ranked 17th, has gained over 20% this week and is trading at just under 7 cents a piece.
  • VeChain (VET), ranked 19th, has gained over 22% after gaining 17% last week and is trading at about 12.8 cents a piece. VET reached an all time high of 14.78 cents a piece a couple days ago.
  • Monero (XMR), ranked 23rd, has gained over 22% as well and is trading around $327.59 a piece.
  • FTX Token (FTT), ranked 29th, has gained over 22% and is trading around $51.50 a piece. It hit an all time high of over $55 earlier today.
  • Elrond (ELGD), ranked 37th, has gained over 32% and is trading around $221.60 a piece. It hit an all time high of $245 earlier today.
  • PancakeSwap (CAKE), ranked 38th, has gained over 39% and is trading around $24.87 a piece. It hit an all time high earlier today of about $28 a piece.
  • Huobi Token (HT), ranked 39th, has gained over 20% and the native token of Huobi Exchange is trading around $20.57 a piece.
  • Ethereum Classic (ETC), ranked 56th, has gained over 26% and is trading around $19.31 a piece.

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 corrections need to occur when an asset goes on a run so this should be expected. Here are the biggest losers from the past week:

  • Polkadot (DOT), ranked 7th, has lost over 10% after gaining nearly 30% last week and is trading around $39.67 a piece.
  • Filecoin (FIL), ranked 15th, has lost just under 10% and is trading around $161.80 a piece.
  • Tron (TRX), ranked 16th, has lost over 5.5% after gaining over 108% last week and is trading at just under 13 cents a piece.
  • Klaytn (KLAY), ranked 21st, has lost another 20% after losing 10% last week and is trading around $2.88 a piece.
  • Terra (LUNA), ranked 24th, has lost over 20% after losing 5% last week and is trading around $14.60 a piece.
  • BitTorrent (BTT), ranked 26th, has lost over 34% after gaining over 220% last week and is trading around 8 tenths of a cent. Biggest loser of the week.
  • Crypto.com Coin (CRO), ranked 27th, has lost over 12% and the native token of Crypto.com Exchange is trading around 20 cents a piece.
  • Kusama (KSM), ranked 41st, has lost just over 7% after losing 20% last week and is trading around $411.35 a piece.
  • Holo (HOT), ranked 44th, has lost just over 30% after gaining 166% last week and is trading at just under 2 cents a piece.
  • Stacks (STX), ranked 55th, has lost almost 8% after gaining over 77% last week and is trading around $2.15 a piece.
  • Compound (COMP), ranked 57th, has lost over 16% after gaining over 36% last week and is trading around $439.36 a piece.

Will Bitcoin Breakout?

Bitcoin continues to tease the $60k threshold but seems unable to stay over for any significant period of time. Its continues to be rangebound which is allowing altcoins to take off but if one to Bitcoin were to join the party would really get started. This week will be another interesting one in terms of price.

Currently trading around $59.9k, Bitcoin is beyond overshadowing its price from this time last year. On April 12, 2020, Bitcoin was trading at just over $6.9k, so it is almost 9x higher than it was last year at this time.

Bitcoin Continues to Keep Up with Traditional Markets

With just over 0.6% gained by Bitcoin this week, it is continuing to stay in line with the traditional markets even though overall it is grossly outperforming them. The Dow Jones Industrial Average has gained a little over 0.5% and the S&P 500 Index has gained a little over 1%. Bitcoin continues to look like a smart hedge against traditional investments.

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About the Author

Evan Jones

Evan Jones was introduced to cryptocurrency by fellow CryptoVantage contributor Keegan Francis in 2017 and was immediately intrigued by the use cases of many Ethereum-based cryptos. He bought his first hardware wallet shortly thereafter. He has a keen and vested interest in cryptos involving decentralized backend exchanges, payment processing, and power-sharing.