Crypto market’s weekly winners and losers – HYPE, BGB, WIF, APT

• Movement, Hyperliquid, and Bitget Token were the biggest winners in the past week.
• Dogwifhat, Gala, and Aptos were the biggest winners from the other end of the table.

In this week’s crypto market review, Movement (MOVE) led the gainers with a 45.1% surge, followed closely by Hyperliquid (HYPE) and Bitget Token (BGB).

Meanwhile, Dogwifhat (WIF), Aptos (APT), and Gala (GALA) ranked as the biggest losers, reflecting the volatile nature of the crypto market. As prices fluctuate rapidly, this recap highlights the market’s dynamic trends.

Biggest winners

Movement (MOVE)

Movement (MOVE) emerged as the highest gainer of the past week, posting an impressive 45.1% increase in value, according to data from CoinGecko. The asset began the week on a subdued note, registering a minor 1% decline and trading around $0.63. 

However, the bullish momentum picked up significantly mid-week, with the most notable spikes occurring on 19th and 20th December. During this period, MOVE recorded increases of over 19% and 42%, pushing its price to a weekly high of approximately $1.06.

Despite this stellar performance, MOVE faced an 8% decline toward the end of the week, closing at $0.97. This decline could be attributed to profit-taking as short-term traders capitalized on the significant gains. The trading volume during the week spiked substantially, reflecting heightened investor interest. However, the volume has declined by over 55% as of this writing and is around $1.2 billion.

Hyperliquid (HYPE)

Hyperliquid lived up to the Hype with its performance in the past week. HYPE demonstrated a stellar performance, securing its position as the second-highest gainer with a 42.7% increase. 

The token started the week on a slightly bearish note, witnessing a minor decline of over 1%, trading just below $24. However, this early setback was followed by a period of price fluctuations, reflecting uncertainty in market sentiment.

The turning point for HYPE came on 19th December, as bullish momentum kicked in, initiating a robust uptrend. By the end of the week, HYPE had climbed to approximately $32. Its volume has, however, dropped in the last 24 hours by over 35%. 

Bitget Token (BGB)

BGB emerged as the third-highest gainer of the week, with an almost 38% increase. It kicked off the week on a positive note, with an over 1% rise, trading around $3.1. The momentum gained strength mid-week, as subsequent uptrends pushed the price to a peak of approximately $4.5.

The rally was characterized by significant trading volume, signaling heightened investor interest and confidence in the token. Technical indicators such as the MACD showed a sustained bullish crossover, reinforcing the uptrend. However, the RSI flirted with overbought levels, suggesting the potential for a cooling-off period.

Source: TradingView

This anticipation materialized in the final two days of the week, as profit-taking activities led to a pullback. The price declined to around $4.1 by the week’s close, marking a consolidation phase. Despite the retracement, BGB maintained a solid overall performance, reflecting strong market fundamentals.

Top 1,000 gainers

Outside the top 100, this week’s top gainer, InSure DeFi (SURE), surged by over 830%. The second and third-largest gainers were Send (SEND) and Freysa AI (FAI), with over 490% and 247% increases, respectively.

Biggest losers

Dogwifhat (WIF)

Dogwifhat endured a tough trading week, emerging as the highest loser with a staggering 29% decline. The token began the week on a slightly positive note, trading at around $2.855, reflecting mild optimism among traders. However, this positive momentum was short-lived, as the token faced consistent bearish pressure.

The price trajectory throughout the week was largely downward, with minor recoveries, notably on 20th December, failing to offset the broader downtrend. By the end of the week, WIF had dropped significantly, closing at approximately $1.889.

Aptos (APT)

Aptos (APT) experienced a sharp decline over the past week, making it the second-highest loser with a 27% drop in value. The token started the week on a slightly positive note, trading at $13.65, instilling brief optimism among traders.

However, a significant bearish trend took over, culminating in the token closing the week at approximately $9.52.

Source: TradingView

The abrupt resignation of the Aptos CEO played a crucial role in fueling this decline. Market participants often react negatively to leadership changes, particularly in emerging blockchain projects like Aptos, as it creates uncertainty about the project’s direction and stability.

Technical indicators reflect a bearish sentiment, with APT breaking below key support levels. The Bollinger Bands widened during the decline, suggesting increased volatility, while the price consistently traded below the 50-day Moving Average, signaling a loss of upward momentum.

On the brighter side, such steep declines often attract bargain hunters and long-term investors seeking discounted entry points.

Gala (GALA)

GALA faced a challenging week, marking a 27% decline in value and positioning it as the third-highest loser. The token started the week positively, trading at around $0.050, sparking optimism among traders. However, bearish pressure dominated for the remainder of the week, with consistent sell-offs observed across sessions.

The only relief came on 20th December, when GALA experienced a brief uptick. Despite this, the upward momentum was insufficient to counteract the persistent downward trend. By the end of the week, the token’s price had fallen significantly to approximately $0.034, reflecting sustained bearish sentiment.

Top 1,000 losers

Outside the top 100, this week’s top loser was Cortex (CTXC, with an over 70% decline. The second and third biggest losers were Wazir X (WRX) and Eliza (ELIZA), with over 67.9% and 57.5%, respectively.

Conclusion 

Here’s the weekly recap of the biggest gainers and losers. It’s crucial to bear in mind the volatile nature of the market, where prices can shift rapidly.

Thus, doing your own research (DYOR) before making investment decisions is best.