The global cryptocurrency market capitalization reached approximately $2.11 trillion on Monday, July 8, marking a 0.42% increase in the past 24 hours. While there was a slight uptick at the beginning of the week, only a handful of cryptocurrencies experienced gains during this period. The standout performer of the week was beldex (BDX), which saw a remarkable 23.08% surge against the U.S. dollar in the last seven days.
In terms of double-digit gains against the dollar, only four cryptocurrencies made the cut this week: beldex (BDX), mantra dao (OM), aelf (ELF), and layerzero (ZRO). Beldex (BDX) took the lead with a 23.08% rise, closely followed by mantra dao (OM) at 21.92%.
Aelf (ELF) witnessed a 20.74% increase, while layerzero (ZRO) experienced a 16.77% jump. Other notable gainers included EGLD, CHR, FTN, ZBU, TIA, and BONK, with gains ranging from 2% to 9.8% over the week.
On the other hand, the biggest loser of the week was Celsius's token CEL, which suffered a significant decline of 44.27%. This drop came as a result of retail Celsius users facing lawsuits from the bankruptcy estate. Constitutiondao (PEOPLE) experienced a 38.57% decrease, mog coin (MOG) dropped by 32.86%, blast (BLAST) saw a reduction of 29.19%, and io net (IO) took a hit of 28.24%.
Trading volume witnessed an increase this week due to significant market fluctuations. Excluding BTC, ETH, and various stablecoins, solana (SOL) had the highest trading volume, followed by binance coin (BNB). Other coins with high trading volume included XRP, NOT, PEPE, WIF, SHIB, and TON. Out of the total market value of $2.11 trillion, BTC accounts for 53.5%, while ETH's share stands at approximately 17.4%. Furthermore, fiat-pegged stablecoins make up 7.63% of the cryptocurrency economy today.
If you want to receive weekly price analysis updates, you can register your email here. We would love to hear your thoughts and opinions on this week's crypto gainers and losers, so feel free to share them in the comments section below.