Crypto market’s weekly winners and losers – AERO, LDO, XMR, TON
Key takeaways
Crypto markets noticed many ups and downs this week. Altcoins surged with Aerodrome, Mantle, and Lido DAO up over 45%. MYX Finance and Mortgage Protocol posted large spikes. Monero, Toncoin, and XDC Community led the weekly losses.
Bitcoin [BTC] stored its head down this week, however the altcoin market was something however quiet.
Whereas the massive names in altcoins – Ethereum [ETH], XRP, Solana [SOL] and Cardano [ADA] – had been busy racking up double-digit good points, a number of under-the-radar tokens quietly staged their very own rallies… or crashes.
Right here’s a fast have a look at a number of the market’s greatest hits and misses from this week.
Seize your coffees and let’s get began!
Weekly winners
Aerodrome Finance [AERO] – Explosive 56% good points this week
Aerodrome Finance [AERO] prolonged its breakout rally this week, surging from below $0.80 to highs above $1.25 earlier than easing to $1.17.
The token’s speedy hike pushed the RSI into overbought territory at 70.9. All whereas bullish momentum remained agency on the MACD.
Supply: TradingView
Its worth motion has stayed effectively above each the 9-day and 21-day EMAs – A present of sturdy short-term help regardless of at the moment’s gentle pullback. The rally capped off every week of intense shopping for curiosity, with volumes spiking alongside the transfer.
Conserving optimism excessive is information of DEX buying and selling going reside on the Coinbase app within the U.S. – A change analysts say may channel many of the buying and selling circulate by means of Aerodrome Finance.
As one X person put it,
“For those who had been paying consideration, this isn’t information for you. For those who weren’t, you continue to can.”
Mantle [MNT] surges amid community developments
Mantle [MNT] soared by 51.99% over the previous seven days, climbing from close to $0.68 to above $1.05. This, earlier than cooling barely to $1.02. The rally was pushed by sturdy bullish candles earlier within the week, peaking across the $1.10-mark.
Regardless of at the moment’s gentle pullback, the worth motion has remained firmly in breakout territory – An indication that bulls are nonetheless in management. If shopping for strain sustains itself, Mantle may retest its current highs, with $1.15 rising as the following resistance stage to look at.
The expansion streak has been further boosted by Bybit’s Co-CEO and Head of Spot Buying and selling becoming a member of Mantle as advisors, lending weight to the challenge’s credibility. With $1.15 in sight, bulls could but push for contemporary highs.
Lido DAO [LDO] surges about 47% forward of key replace
Lido DAO [LDO] rallied 46.8% over the previous week, breaking out from the $0.87-zone to peak close to $1.37, earlier than settling at $1.27. The surge was marked by sturdy consecutive inexperienced candles, underlining bullish conviction and rising buying and selling volumes.
Whereas at the moment’s pullback hinted at profit-taking, momentum has remained firmly optimistic.
Merchants at the moment are eyeing 14 August, when Lido Labs will host its first Tokenholder Replace Name. It should cowl roadmap, strategic priorities, and long-term LDO alignment – An event that could keep sentiment elevated.
Different notable winners
Past the majors, smaller-cap tokens put up some nice strikes this week.
MYX Finance [MYX] led the top-1000 pack at press time, according to data from CoinGecko, with a staggering 1,323.8% surge to $1.64 on almost $50 million in quantity. Mortgage Protocol [LOAN] jumped 253.1% to $0.002673, whereas SOON [SOON] climbed 238% to $0.5034, backed by a formidable $399.9 million in buying and selling exercise.
Speculative fervor is clearly nonetheless very a lot alive.
Weekly losers
Monero [XMR] slides below bearish strain
For the reason that begin of August, Monero [XMR] has been on a gradual downtrend, slipping from above $300 to $270.92. The decline accelerated between the 5-7 August, with consecutive purple candles breaking key help ranges. Transient reduction got here on 8 August, however follow-through shopping for did not materialize, leaving the worth motion subdued.
A retest of the $264-$260 zone could possibly be on the playing cards if bearish momentum persists.
Supply: TradingView
Nevertheless, that’s not all.
Monero’s newest worth drop has been pushed by fears over centralization. Qubic’s [QUBIC] mining pool – a L1 blockchain – now instructions over 40% of XMR’s hashrate, inflicting issues {that a} takeover may compromise transaction integrity and decentralization.
This brewing “crypto beef” has shaken market confidence, maybe inflicting the bearish momentum since early August.
Toncoin [TON] faces weekly slide regardless of transient Telegram-driven bounce
Toncoin [TON] dropped by 10.38% over the previous week, with promoting strain dominating early August. The worth slipped from above $3.60 to round $3.32, because the CMF stayed adverse and the RSI hovered close to impartial – An indication of fading bullish momentum.
Supply: TradingView
Probably the most notable rebound got here on 9 August, when Telegram’s affirmation of deeper blockchain integration spurred a 1.75% uptick and broke the consolidation part. Nevertheless, the bounce proved short-lived, with bears regaining management into the weekend.
XDC Community extends bearish streak with contemporary losses
XDC Community [XDC] slipped steadily over the previous week, dropping floor from $0.093-levels early August to round $0.088 by 10 August – Marking a drop of over 5%.
After a short midweek pause, sellers regained management, pushing the token to its lowest level in almost two weeks. The sharpest intraday decline got here at the moment, when XDC shed almost 3%, confirming persistent bearish momentum and weak shopping for curiosity.
With no clear reversal sample, the market bias will stay tilted to the draw back within the close to time period.
Different notable losers
Graphite Protocol [GP] took the steepest hit, plunging 48.6% to $1.60 regardless of $14.1M in quantity.
Infinitar Governance Token [IGT] slipped 18.4% to $0.115, whereas Blackhole [BLACK] dropped 16.7% to $0.7265, with the very best buying and selling quantity of the three at $19.78M.
Conclusion
The markets noticed all of it this week – Wild swings, sudden sell-offs, and moments of alternative. Volatility isn’t slowing down, so maintain your wits about you, dig into the info, and transfer with intention.
We’ll see you subsequent week!
