Crypto market’s weekly winners and losers – WIF, MNT, KCS, FTM

• CORE, WIF, and MNT had the week’s biggest gains.
• KCS, FTM, and XMR were the biggest losers of the week.

Last week was marked by an uptrend in the general crypto market, as the values of several assets increased by double digits.

During the seven-day period, the global cryptocurrency market capitalization increased by 3.4%. On that note, here’s AMBCrypto’s list of the biggest winners and losers from the 24th to 30th of March.

Biggest winners

Core [CORE]

Core [CORE] is the native token of the Ethereum [ETH] Virtual Machine-compatible (EVM) Layer 1 blockchain Core. The altcoin led the cryptocurrency market as the asset with the most gains in the last week. 

At press time, it exchanged hands at $1.60, having witnessed a 138% spike in its price over the last seven days.

CORE’s value was up 35% in the past 24 hours, extending its weekly gains. During that period, its trading volume had gone up by 139%. The token last traded at the $1.60 price level in May 2023.

Dogwifhat [WIF]

Per CoinMarketCap’s data, Solana [SOL]-based meme coin dogwifhat [WIF] saw an impressive weekly gain of 90%, ranking as the asset with the second-highest gains last week.

On the 30th of March, the meme coin traded briefly above $4.5 to exchange hands at an all-time high. The high trading volume in the past week led to a significant surge in WIF’s market capitalization. 

At press time, it was $4.2 billion, making it the third-largest meme asset in terms of market capitalization after Dogecoin [DOGE] and Shiba Inu [SHIB].

An assessment of WIF’s price movements on a daily chart indicated that the gains might extend into the new week if bullish sentiment remains.

Key indicators showed that buying pressure was significantly higher than token distribution. For example, WIF’s Elder-Ray Index was positive at press time and has been since the 28th of March. 

This indicator estimates the relationship between the strength of buyers and sellers in the market. When its value is positive and the bars are green, it is a bullish signal, depicting an uptick in buying activity.

Confirming the uptrend, WIF’s MACD line rested above the signal line at press time. This intersection is a sign of market strength.

It indicates that the shorter-term moving average has moved higher than the longer-term moving average, presenting an opportunity to buy for profit. 

Source: WIF/USDT on TradingView

Mantle [MNT]

Mantle [MNT], the native token that powers the Ethereum Layer 2 scaling solution Mantle, witnessed a 60% growth in its price last week. 

On the 27th of March, the altcoin’s price rallied to an all-time high of $1.38, pushing its market capitalization above $4 billion. 

Last week’s rally in MNT’s price was due to the launch of the Mantle Rewards Station. This Station lets the network’s users connect their wallets and lock their MNT into a vault to gain rewards.

At press time, MNT exchanged hands at $1.31, witnessing a 2% decline in trading volume in the past 24 hours.

Biggest losers

KuCoin [KCS]

KuCoin [KCS] is the native token of the troubled crypto exchange KuCoin. Its value depleted by 21% in the past seven days, making it the week’s biggest loser. 

The decline in the token’s value was due to the allegations levied against the exchange’s founders by the Department of Justice (DOJ), accusing them of breaching the Bank Secrecy Act and anti-money laundering regulations.

The week also saw a significant spike in outflows from the crypto exchange as investors removed their holdings from the platform. 

At press time, KCS exchanged hands at $11.21. While its price was up by 3% in the past 24 hours, trading volume during the same period was down 51%.

This created a bearish divergence, which hinted at a possible drawback in the token’s value in the short term. 

Fantom [FTM]

Fantom [FTM], the native utility token that powers the entire Fantom blockchain ecosystem, ranked as the asset with the second-highest losses over the past week.

At press time, the token traded at $0.96, recording a 9% decline in its price during the period under review.

The coin’s Parabolic SAR and Moving Average Convergence/Divergence (MACD) indicators observed on a 1-day price chart confirmed the downtrend in the FTM market.

At press time, the dotted lines that makeup FTM’s Parabolic SAR indicator were positioned above its price. This indicator tracks potential trend direction and reversals.

When its dotted lines rest above an asset’s price, the market is deemed to be in a downtrend. 

Also, the coin’s MACD indicator returned red histogram bars, as its MACD line was below the signal line and trended downward at press time.

Since the downward intersection occurred on the 26th of March, FTM’s price has plummeted by 10%. 

Source: FTM/USDT on TradingView

Monero [XMR]

According to CoinMarketCap’s data, privacy token Monero [XMR] had the third-highest weekly loss. During that period, its value plunged by 8%.

XMR traded at $129.72 at press time, extending its losses by 2.3% in the past 24 hours.