The majority of top 20 cryptocurrencies appears to be doing more than well with gains striking hard during the entire week between July 29th and August 5th. Bitcoin is rising up by 22% over the period of the last 7 days, while Tezos (XTZ) seems to be the top gaining crypto for the last week in the competition of top 20 cryptocurrencies.
As Bitcoin (BTC) is still holding the first place on the list of over 2000 different cryptocurrencies, it is speculated that the first crypto is pulling the entire market with gains scored in the last 2 months. As for now, Bitcoin is trying to break the resistance of 11,800$ per one unit, pushing towards 12,000$. Ever since the fiasco from November when the market lost over -50% of its total value, the general state of the cryptocurrency market went on a downfall.
However, the recent gains in the period of the last two months appears to be working in the favor of gains.
Top Crypto Gainers: Tezos (XTZ) Rising Above 30% in the Last Week, MinexCoin (MNX) Going Up Over 300%
Tezos (XTZ) is currently the top gaining currency among the top 20 cryptocurrencies, scoring over 38% of gains in the period of the last seven days. It may be the case that Tezos managed to gain such momentum due to the fact that Huobi announced support for Tezos wallets on the first day of August 2019, which matches the trajectory of XTZ gains in the last week.
On the other hand, we have MinexCoin (MNX), with 322% of gains for the same time period, making this little known crypto the top gaining cryptocurrency in the period between July 29th and August 5th, 2019. MinexCoin had a volume of nearly 900,000$ in the period of the last 24 hours, concluded with August 5th.
The reason why MinexCoin is gaining on momentum for the past seven days might be the fact that MNX offers instant crypto-based payments alongside a crypto debit card called MinexPay, set to make paying with crypto far easier.
Top Crypto Losers: Cardano (ADA) Down by -2.63%, BQT (BQTX) Dropping by -90% in the Last Seven Days
Cardano might be the only crypto among the top 20 cryptocurrencies concluded with August 5th trading in the red as ADA is dropping by -2.63% for the past seven days. On the bright side, a rebound by 2.46% is seen in the last 24 hours on August 5th so ADA might have a more benevolent week ahead of it. Cardano is one of the well-known cryptos in the market and most probably one of the most ambitious crypto-oriented projects in the market by far, which means that the recent drops probably won’t persist for long.
“Better, Quick, Transparent” as BQT (BQTX) is described turns out to be the top losing crypto for the week, having over -90% of drops hitting the coin in the period of the last seven days.