The crypto market is completely volatile which is why one might lose track of several prominent price action updates every now and then. Therefore, we have decided to provide a weekly update of the 10 top crypto coins every week. It sums up the price actions at large. In addition, our weekly crypto update would contain important developments in the crypto domain, if any.
10 Top Crypto Coins
The top 10 crypto coins have been filtered according to the ranking provided by CoinMarketCap, a leading crypto price tracking website, and their market valuation. Some of them are accompanied by 7-day performance charts for better understanding. Also, this week’s cryptocurrency update will feature digital currencies from different sectors.
The list of 10 top crypto coins would indeed be incomplete without mentioning the first and largest cryptocurrency, Bitcoin (BTC). The crypto behemoth was in the ‘red’ on Saturday and therefore wrapped up the week at a loss. The BTC token was down by 4.04% and traded at $22,561.61. The market capitalization of the crypto stood at $430.67 billion, dropping by 4.05%. Further, the 24-hour trade volume decreased considerably by 15.47% and was at $30.08 billion.
Earlier on Thursday, July 21, 2022, the BTC coin experienced a downtrend amid a crypto crash session. The situation became worse when Tesla revealed that it sold about 75% of its Bitcoin holdings worth $2 billion. After a series of up and down price actions, BTC managed to gain 9.36% value in the week. The digital currency giant is still not much distant to its week’s opening value of $21,195.04.
Ethereum (ETH) saw a bullish rally in the initial days of the week as its gains between July 13 and 16 extended into this week. However, this crypto giant was in the ‘red’ on Saturday and thus, finished the week at a loss, higher than that of BTC.
The ETH token was down by 5.24% and traded at $1,541.71. The market capitalization of the crypto stood at $187.31 billion, dipping by 5.37%. Further, the 24-hour trade volume lowered significantly by 16.94% and was at $16.94 billion.
After several price fluctuations during the week, ETH managed to increase by a huge 28.84% in value in the week. In line with BTC, this crypto sector is still not much distant to its week’s opening value of $1,353.21.
Since Tether (USDT) is a stablecoin based on the U.S. Dollar there was almost no change in its value at the end of the week. However, the crypto did gain 0.1% to 0.3% during the crypto crash sessions in the week. As of Saturday, the USDT token’s value remained unchanged and stood at $1.00. The market valuation of the crypto was at $65.84 billion, losing 0.01% value. In addition, the 24-hour trade volume slumped by 12.78% and was at $49.91 billion. The weekly gain for USDT crypto stood at 0.03%.
USD Coin (USDC)
USD Coin (USDC), the digital dollar, is also backed by the U.S Dollar but still saw a minor swing when it was time to wrap the week up. On Saturday, the USDC crypto first declined from $1 to $0.9992 and then went all the way back up. The market cap of the USDC token was at $55.04 billion, gaining 0.09% value. However, the 24-hour trade volume tumbled by 11.52% and was at $5.9 billion. However, it reported a loss at the end of the week. The weekly loss for USDC crypto stood at 0.03%.
Binance Coin (BNB)
The native token of the major crypto exchange, Binance, also made it into the list of 10 top crypto coins due to its stable nature and market capitalization. It also saw a decline towards the end of the week just like other major cryptocurrencies. On Saturday, the Binance coin (BNB) saw its price dip by 1.92% and it traded at $264.06. The market valuation of the BNB coin stood at $42.6 billion, dropping by 1.91%. Moreover, the 24-hour trade volume decreased slightly by 3.13% and was at $1.12 billion. The BNB coin gained 11.84% during the week.
Binance USD (BUSD)
Binance USD (BUSD), another stablecoin operated on the U.S. Dollar, was launched by Binance to give competition to other dollar-backed coins. However, this crypto saw much higher price fluctuations than any other dollar-powered cryptos. The BUSD coin was down by 0.16% and traded at $0.9987, below the $1 mark on Saturday. The market valuation of the BUSD token stood at $17.5 billion, declining by 0.16%. Moreover, the 24-hour trade volume dropped slightly by 6.89% and was at $5.7 billion. The BUSD crypto lost 0.09% during the week.
The most controversial crypto, XRP, also made it into the list of 10 top crypto coins owing to its popularity and recent price actions. On the closing day of the week, the XRP token followed the bearish trend. The XRP crypto slumped by 3.65% and traded at $0.3547. The market capitalization of the coin stood at $17.1 billion, decreasing by 3.63%. In addition, the 24-hour trade volume slipped considerably by 15.26% and was at $953.39 million. Over the week, it gained slightly by 3.77%.
Earlier in the week, news broke stating that U.S. Congressman Brad Sherman, also the Chairperson of the House Financial Services Subcommittee on Investor Protection, recently requested the United States Securities and Exchange Commission (SEC) to chase major crypto exchanges listing XRP. It was a move concerning the debate of whether XRP is a security or not. Since the SEC believes that it certainly is a security, Sherman urged such action from it.
Cardano (ADA), the Yoroi Wallet hero, saw a red close like that of many others on the list. The ADA dropped by 5.77% and traded at $0.4797 on Saturday. The market valuation of the coin stood at $16.1 billion, dipping by 5.54%. In addition, the 24-hour trade volume decreased considerably by 8.66% and was at $753.15 million. Over the week, ADA increased 9.87% in value. The gain would have been much higher if it could have survived the two crypto crash sessions that hit the market this week.
Solana (SOL), another major crypto participant, was the one that lost the highest value before wrapping up the week. On Saturday, the SOL token plunged by 9.48% and traded at $39.74. The market valuation of the crypto stood at $13.7 billion, declining by 9.56%. Further, the 24-hour trade volume decreased considerably by 18.10% and was at $1.39 billion. Over the week, SOL gained 8.51% in value even after tumbling after the end.
The only meme-frenzy crypto that made it into the list of 10 top crypto coins was Dogecoin (DOGE), the King of meme coins. Even this dog-faced crypto failed to defy the red trend and declined by 6.30% on Saturday. At that point, it traded at $0.06657. The market capitalization of the token stood at $8.83 billion, down by 6.31%. However, DOGE is the only crypto on our list whose 24-hour trade volume increased significantly by 12.57% and was at $491.41 million. Over the week, DOGE rose by 7.03% in value even after tumbling after the end.
Crypto Market Wrap Up
The Crypto July update for the third week is now wrapped up and hopefully will aid you in understanding the weekly performances of major cryptocurrencies. The 10 top crypto coins mentioned above are currently ruling the cryptocurrency market and might continue to do so until any major development strikes. We aim to continue providing such market round-ups by the end of every week so that you can know of any detail that you might be missing out on.
Disclaimer: The values mentioned here are at the time of writing.