The cryptocurrency economy is doing well during the third week of the new year, compared to the end of 2022. It is currently valued at $993.17 billion, as many digital assets have seen double-digit gains over the past two weeks. While some of the top ten cryptocurrencies, such as bitcoin and ethereum, are performing well, a few digital currencies have outperformed a number of the top ten coins in terms of gains this year.
Top cryptocurrency performers of the week: Decentraland’s MANA, Frax Share and FTT Lead the Way
Digital currency markets have been in the green recently as the leading cryptocurrency, bitcoin (BTC), has gained 23.29% against the US dollar in seven days. The second leading digital currency by market capitalization, ethereum (ETH), has also risen 18.39% this week. Of the top ten positions, bitcoin has outperformed its competitors in terms of seven-day gains. However, a large number of cryptocurrencies outside the top ten have outpaced BTC’s gains over the past week, with much higher gains against the US dollar.
For example, Decentraland’s MANA token has risen 88.02% this week. Over the past 14 days decentralizedand (MANA) has risen 131.8%. While MANA’s gains have been significant, at $0.721 per unit, the digital currency is still down 87% from its all-time high on November 25, 2021. The second leading cryptocurrency this week is frax share (FXS), which is up 81.69%. FXS has also gained 111% against the US dollar in two weeks. The third biggest gainer this week is the ftx token (FTT), as the exchange token has climbed 62.82% higher over the past seven days.
Decentraland (MANA) Award 17 January 2023.
FTT managed to gain 160.5% against the US dollar in 14 days. Another big gainer over the past seven days is helium ( HNT ), which jumped 59.53% on the week and 92.8% higher in two weeks. Aptos (APT) has gained 57.21% in seven days and 114.5% in 14 days. Other digital assets that have outpaced bitcoin’s and ethereum’s gains so far this year include solana (SOL), compound (COMP), optimism (OP), convex finance (CVX), sandbox (SAND), and gala (GALA), respectively.
Meanwhile, as there were a large number of winners in the last two weeks, there have also been quite a few losers. According to seven-day statistics against the US dollar, the biggest loser is Flare Network (FLR), which has lost 16.76% in the last week. The coin is newly launched and has only existed for just over seven days. Other losers against the US dollar this week include nexo (NEXO) and unus sed leo (LEO). After a significant rally on January 16th, the cryptocurrency economy as a whole is up 1.47% in the last 24 hours.
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What do you think is driving the recent success of Decentraland’s MANA token and other two-digit digital assets? Share your thoughts in the comments section below.
Jamie Redman
Jamie Redman is the news editor at Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
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