Praiseworthy Crypto Market Conditions
At present, crypto market conditions are praiseworthy and are improving since the commencement of 2023. Bitcoin has moved into the price range of over $20,000 which it was failing to go past for many months.
Similarly, Ethereum has been switching hands at a value of $1,528.03 which the coin hadn’t seen for the past several months as well.
Both the tokens have been demonstrating strong performances. After a long time, the investors are glad that they are able to witness spikes in the trading prices of these assets.
The year 2023 has proven to be a positive breakthrough for the investors who had been longing for a strong bullish run for a while.
Most importantly, the global crypto economy is rapidly moving towards becoming a trillion dollar economy. So far it has been able to reach $993.17 Billion.
However, the valuation may soon cross the level because the major cryptocurrencies are still pushing for higher price ranges.
This valuation of global crypto economy is still falling short of what it was on 15th November, 2021 i.e. over $3 Trillion.
However, with improved market conditions now, there were double-digit gains recorded for a number of cryptocurrencies.
Bitcoin and Ethereum, being the leaders of crypto market, are performing better as they should be. However, there are a few exceptional ones whose performances are even better than Bitcoin and Ethereum.
One of those exceptional coins is MANA which has subsequently outperformed Bitcoin and Ethereum in terms of gains since start of 2023.
Crypto Market Goes Green for Entire Lot of Cryptocurrencies
At presently, crypto market conditions are green and back-to-back gains are coming in for the entire lot of cryptocurrencies.
Bitcoin and Ethereum, for instance, saw their values swelled up by 23.24% and 18.39% respectively since past week.
Amongst the top 10 crypto position holders, Bitcoin single handedly outplayed each rival exclusively in the league of past 7-day gainers.
Yet there are few cryptocurrencies, which though are not part of top-10, but their gains are more promising than Bitcoin’s in same league.
Amongst them, at the top, is cryptocurrency MANA of Decentraland.
Exceptional Gains of Decentraland’s MANA
While Bitcoin ranked number one amongst top-10 leading cryptocurrencies by gaining 23.24% gains since past week, MANA gains were over 88%.
If one examines, MANA’s two-week performance, then it will show that MANA’s value has been increased by roughly 132%.
At presently, MANA has been exchanging hands at a swelled up value of $0.721 per single unit. However, this isn’t the best of MANA as it still fall short of 87% gains which existed as of 25th November, 2021.
Exceptional Gainers Other Than MANA
Frax also was amongst biggest gainers after MANA, which isn’t part of top-10 leaders, yet its gains were phenomenally better than Bitcoin.
In the past seven days alone, this coin saw its value boosted by 81.69%. In terms of its past-two weeks’ gains, Frax’s value has been swelled up by at least 111%.
At number third was the token belonging to crashed FTX namely “FTT”.
The token saw its value surged by more than 62.82% in seven days and 160.5% in 14 days.
Similarly, the fourth spot went to Helium whose gains were 59.53% and 92.8% in the past 7 and 14 days respectively.
Other notable mentions include coins such as Solana, Convex Finance, Sandbox, Compound, Gala, Optimism etc. These coins also successfully outperformed crypto market leaders in terms of their past 7 and 14 day gains.
Amongst top gainers, there were also top losers as well and in this league were coins such as FLR, LEO, NEXO etc. However, the biggest loser was FLR whose value declined by 16.76% within the past seven days alone.
Keeping aside the losers, overall market conditions seem to be moving into the right direction until they are engineered otherwise by circumstances.