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  • >Price Check: Is it Ethereum Time? ETH Breaks Records with $1,400+

Price Check: Is it Ethereum Time? ETH Breaks Records with $1,400+

Bitcoin has gone through another week of a fall and rise, dipping down to the low $30k range before slowly rising back to where it sits now above $34k. This is still down from where it was at this time last week, but there seems to be no doubt that $30k is the bottom end for Bitcoin nowadays. Whether it jumps back up over the next week is anyone’s guess but there is never a dull moment it seems.

Meanwhile Ethereum might be the cryptocurrency watch right now as it finally recorded a new all-time high of $1,400+ this week. Ethereum holders had been waiting since early 2018 to eclipse that mark.

Is Ethereum threatening to surpass Bitcoin's gains over the next few weeks?

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

With the somewhat steadied movements of Bitcoin over the past week there are quite a few altcoins which have been able to gain steam.

This is especially true of assets that are part of the Decentralized Finance sector of crypto. Here are the biggest gainers from the past week:

  • Ethereum (ETH), ranked 2nd, has gained almost 15% and is trading around $1,420.47 a piece.
  • Polkadot (DOT), ranked 4th, has followed its whopping 115% gained last week with another 4% gained this week. DOT is now trading around $17.82 a piece.
  • Chainlink (LINK), ranked 7th, has gained over 10% after gaining around 55% last week and is trading around $23.94 a piece.
  • Uniswap (UNI), ranked 14th, has gained over 25% after gaining 82% last week and is trading around $11.57 a piece.
  • Aave (AAVE), ranked 16th, has gained over 35% after gaining 73% last week and is trading around $252.63 a piece.
  • THETA, ranked 21st, has gained around 7% and is trading around $2.16 a piece.
  • Synthetix (SNX), ranked 24th, has gained a little over 6% and is trading around $16.35 a piece.
  • Celsius (CEL), ranked 32nd, our only loser last week is back in the winning column with just under 12% gained and is trading around $5.17 a piece.
  • Huobi Token (HT), ranked 34th, the native token of Huobi Exchange has gained just over 6% and is trading around $5.84 a piece.
  • SushiSwap (SUSHI), ranked 40th, has gained around 12% after gaining 88% last week and is trading around $8.02 a piece.
  • Elrond (EGLD), ranked 48th, is our biggest gainer of the week with around 30% gained and is trading around $51.44 a piece.
  • Algorand (ALGO), ranked 50th, has gained around 7% and is trading around 60 cents a piece.

Biggest Dollar Decreases

This was an odd section last week, as we only had one asset that had lost dollar value, of course that could not last, so this week we have quite a few entries in the biggest decreases section. Here are the biggest dollar value decreases of the past week:

  • Bitcoin Cash (BCH), ranked 9th, has lost just under 9% and is trading around $452.70 a piece.
  • Stellar (XLM), ranked 11th, has lost a little over 9% and is trading around 27 cents a piece.
  • Bitcoin SV (BSV), ranked 15th, has lost 14% and is trading around $176.21 a piece.
  • Neo (NEO), ranked 25th, has lost over 9% and is trading around $24.55 a piece.
  • Cosmos (ATOM), ranked 26th, has lost over 9% and is trading around $8.17 a piece.
  • Crypto.com Coin (CRO), ranked 27th, has lost a little over 7% and is trading around 7 cents a piece.
  • Dash (DASH), ranked 36th, has lost just under 13% and is trading around $110.07 a piece.
  • Yearn.finance (YFI), ranked 45th, is our biggest loser of the week with over 17% lost and is trading around $31,278 a piece.
  • Zilliqa (ZIL), ranked 49th, has lost just over 10% and is trading around 7 cent 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 Bitcoin. We will only note a few as the other sections are larger this week. Here are some of the biggest losers trading for Bitcoin:

Bitcoin Get Back to $35k?

Bitcoin has not jumped back to $40k as many would have liked, though those accumulating are likely quite pleased with the lower prices this week. Overall Bitcoin has dropped about 7% from where it was last week and is trading at just around $34k. The price action this week will be interesting to monitor.

Bitcoin is still blowing its price at this time last year out of the water. On January 25, 2020, Bitcoin was trading at just over $8.3k, so it is over 4x higher than it was last year at this time.

Bitcoin Down, Traditional Markets Stagnant

With a little under 7 percent lost this week, Bitcoin has not outperformed the traditional markets as usual, though it has not exactly lost out.

The Dow Jones has lost about half a percent over the past week while the S&P 500 Index has gained a little over 1.5%. Their movements have nothing to do with Bitcoin any longer, but it will be interesting to see how they go with a new President in office.

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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.