Crypto market shows mixed weekly results, Bitcoin and Ethereum see minor gains today
Investing.com | Editor Venkatesh Jartarkar
Published Nov 19, 2023 07:25AM ET
NEW YORK - In a week of fluctuating fortunes for cryptocurrencies, Bitcoin and Ethereum saw modest gains today, despite experiencing losses over the past week. Bitcoin inched up 0.57% to $36,563.73, while Ethereum climbed 1.34% to $1,959.81. However, their weekly performance showed a decline of 1.14% and 4.23%, respectively.
The overall crypto market presented a mixed picture with several altcoins registering varied movements. BNB rose by 1.27% to $244.81, and XRP made slight gains, increasing to $0.66 (up 0.85%). Cardano stood out with a notable increase of 4.09% to $0.33. In contrast, Dogecoin fell by 6.08% to $0.077.
Solana displayed resilience over the week with a positive momentum of 2.18%, trading at $58.44. Polka Dot and Shiba Inu were among the cryptocurrencies that faced weekly declines, with Polka Dot down by 4.08%.
The top gainers included Render, Arweave, FTX Token, KuCoin Token, and Oasis Network, each posting significant returns within the last day.
Stablecoins such as Tether and USD Coin managed to stay close to their pegged values, while Binance USD experienced a slight decrease.
The DeFi sector witnessed fluctuations with tokens like Avalanche and Chainlink seeing decreases in value, whereas Wrapped Bitcoin saw a marginal uptick.
NFT assets generally faced downturns with Internet Computer and Immutable experiencing notable declines.
Despite these mixed performances across various cryptocurrencies and sectors, the global crypto market cap held steady at $1.39 trillion with a daily volume surge indicating robust trading activity.
Polygon's nearly four percent increase over the week contrasted with the losses seen by other tokens, highlighting the unpredictable nature of cryptocurrency markets.
Investors continue to navigate through the volatility inherent in digital assets as they assess market dynamics and potential opportunities within this diverse financial landscape.
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