Bittime - Even though the crypto market experienced a downturn this week, certain crypto assets actually surged. The global crypto market cap fell by more than $111 billion, but this did not stop some crypto assets from making significant moves. The following is an analysis of the 3 crypto assets with the most interesting movements by cryptonews.com
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1. Nervos Network (CKB): Targeting New Peaks
Nervos Network (CKB) bucked the overall market downward trend and managed to gain 39% this week.
CKB token surpassed an important resistance level (50-day EMA) and reached a 28-month high of $0.0268.
This increase occurred after a price correction in early April, where CKB fell 19.13%.
It is worth noting that despite its recent gains, CKB is still below its November 2021 high of $0.03567.
However, CKB's year-to-date performance remains strong, with a remarkable increase of 314%.
Technical indicators show CKB's success in breaking the 50-day EMA, which indicates a potential continuation of the uptrend.
CKB's ability to maintain current levels and potentially surpass 2021 highs will depend on several factors, including overall market sentiment and project-specific developments.
Current Nervos Network (CKB) Price
According to the Bittime exchange, the price of 1 CKB to IDR is IDR. 471 and over the last 24 hours it has increased by +11.34%
2. Wormhole (W): Bumpy Initial Launch Followed by Recovery
W, the governance token of cross-chain protocol Wormhole, had a somewhat volatile debut on April 3.
The token initially surged from $1.35 to $1.50 shortly after its launch, driven by listings on multiple exchanges and massive trading volume of $781 million. However, this initial excitement did not last long.
A wave of profit-taking from early investors led to a 21.4% drop from its launch price. W is currently trading at $1.06, showing a slight recovery after bottoming at $0.9247.
Despite the initial decline, W still has a market cap of $1.903 billion.
Wormhole's future success will depend on its ability to deliver on its promises.
The project aims to facilitate seamless token transfers between different blockchains.
If this protocol gains traction and adoption, the price of W could potentially rebound.
However, recent price volatility highlights the risks associated with investing in newly launched tokens.
Also Read How To Buy Crypto:
3. PENDLE (PENDLE): Capitalize on Upward Market Trends
PENDLE emerged as one of the best performing crypto assets this week, with a 19% surge.
The token benefited from a brief market recovery and reached a new record high of $7.21 on April 6.
This impressive rise can be partly attributed to the introduction of two new liquidity ratio (LRT) tokens on the Arbitrum network.
The project development team announced this news on April 4, which contributed to positive price momentum.
PENDLE is currently experiencing a price discovery phase following its impressive rise. The token is down about 8.9% from its record high, but has maintained most of the gains made throughout the week.
At current prices, PENDLE has a market cap of $636 million and is up 455% year-to-date.
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Conclusion
Overall, this week highlights the continued volatility in the crypto market. While some crypto assets such as CKB and PENDLE capitalized on market movements and project-specific developments, W struggled to maintain its launch momentum.
This reminds investors to conduct thorough research and understand the risks involved before investing in any crypto assets.
How to Buy Crypto from Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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