There were not many significant movements within the ranking of the top 100 cryptocurrencies this week. There was however a tendency of market caps drawing closer to each other. As such, the biggest gainers showed in the the bottom half of the CMC100. The biggest gainers this week were Energi
There were however outshone by serial mover Swipe BUY NOW (SXP). The crypto-to-fiat payment token was one of the best performing digital assets earlier this year, ranking as high as #45 in late January. Since then, SXP has experienced dramatic volatilityWe can describe volatility as how much the value of an asset changes over a given time. A volatility index... More, dropping out and back into the CMC100 ranking multiple times.
SXP is listed on CoinMarketCap since August 2019 and it seems like the relatively young token hasn’t found its fair market price yet. Also, low liquidity might be an issue that drives volatility. Since SXP is mainly used for payments, there portion of tokens held on exchanges is rather low. In conjunction with its relatively high trading volume, compared to other cryptocurrencies ranked in a similar range, changes in demand spell a high price volatility.
Among the top 40 cryptocurrencies, there were not many noteworthy movers. The largest gainer here was Huobi Token BUY NOW (HT), which increased its price to 54,246 Satoshis (+4.1%). Crypto.com Coin BUY NOW was another larger cryptocurrency that outperformed Bitcoin BUY NOW this week. CRO increased its price to 715 Satoshis (+2.2%).
In the last week, the total market cap of all listed cryptocurrencies gained +12.0% to $190.8B. The Bitcoin dominance gained 0.3 percentage points to 65.2%. In the CMC100 ranking, we have recorded the following major changes:
#1: Bitcoin (Previous Week: 1, Cap: +9.1%)
#2: Ethereum BUY NOW (Previous Week: 2, Cap: +9.8%)
#3: XRP BUY NOW (Previous Week: 3, Cap: +0.6%)
#14: Huobi Token (Previous Week: 17, Cap: +15.1%)
#16: Cardano BUY NOW (Previous Week: 14, Cap: +8.5%)
#17: Chainlink (Previous Week: 16, Cap: +7.5%)
#19 CRYPTO.COM Coin (Previous Week: 20, Cap: +14.3%)
#20: Dash BUY NOW (Previous Week: 19, Cap: +2.8%)
#31: Paxos Standard BUY NOW (Previous Week: 29, Cap: -2.4%)
#38: Decred BUY NOW (Previous Week: 43, Cap: +8,9%)
#39: Hedera Hashgraph BUY NOW (Previous Week: 42, Cap: +8.8%)
#41: ICON BUY NOW (Previous Week: 47, Cap: +22.4%)
#53: MCO BUY NOW (Previous Week: 58, Cap: +11.5%)
#56: Nano BUY NOW (Previous Week: 61, Cap: +26.1%)
#61: DigiByte BUY NOW (Previous Week: 67, Cap: +25.0%)
#62: Nervos Network BUY NOW (Previous Week: 69, Cap: +28.6%)
#66: Energi (Previous Week: 76, Cap: +38.3%)
#68: Quant (Previous Week: 80, Cap: +35.9%)
#75: Swipe (Previous Week: 106, Cap: +123.7%)
#88: Digitex Futures (Previous Week: >100, Cap: +72.1%)
Data as of 04/05/2020, 19:51 UTC. Source: CoinMarketCap
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