In the upcoming week, investors are eyeing several top cryptocurrencies, including Nervos Network (CKB) and PENDLE, while assessing the performance of Wormhole (W) following its recent debut.
Despite notable gains in select cryptocurrencies, the broader crypto market experienced a slight downturn, with the global crypto market cap decreasing by over $111 billion, reaching $2.55 trillion.
Here’s a comprehensive overview of the performance of some prominent cryptocurrencies throughout the week:
CKB Surges to 28-Month High: Nervos Network has been on an upward trajectory, aiming to surpass previous highs despite the recent market slowdown. While facing initial bearish pressure, CKB encountered a decline of 19.13% on April 1 and 2, reaching a two-week low of $0.0164. However, a subsequent recovery saw CKB surpassing the 50-day EMA and achieving an intraday gain of 32% on April 6, marking its most significant increase in over a month. Currently valued at $0.0261, CKB aims to surpass its November 2021 high at $0.03567, experiencing a 314% increase year-to-date and a 39% surge this week alone.
Wormhole’s Volatility Since Launch: Following its governance token W’s launch on April 3, Wormhole experienced significant price fluctuations. Initially surging from $1.35 to $1.50, W faced a series of selloffs, resulting in a drop to an all-time low of $0.9247 on April 5. Despite demonstrating resilience and trading at $1.06 currently, W remains down 21.4% from its initial trading price, with a market cap of $1.903 billion.
PENDLE Achieves New All-Time Highs: PENDLE showcased resilience amidst market fluctuations, leveraging the broader market’s recovery to hit record highs. Despite experiencing intraday losses from April 1 to 3, PENDLE capitalized on an uptrend on April 4, recording a massive 28.56% increase. Notably, PENDLE entered a price discovery phase, reaching a new all-time high of $7.21 on April 6. Despite a slight decline from this ATH, PENDLE remains up 19% this week and boasts a market cap of $636 million, experiencing a remarkable 455% increase year-to-date.
As investors continue to monitor these cryptocurrencies, market dynamics and further developments will likely influence their performance in the coming days.
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