This week, the crypto market experienced dramatic volatility, which saw most crypto assets recall their prices in a shocking manner. On Monday, March 10, Bitcoin’s value slumped below the $80,000 level, pulled down by continued selling pressure in the stock market. Earlier that day, BTC’s price dropped to a low of $77,396, its lowest mark seen since November last year.
Also, during that day, Ethereum dropped below the $2,000 level for the first time since Dec.2023. Most cryptocurrencies, including prominent ones like SOL, XRP, and others, also plunged their values hard, as the crypto market continued to experience huge sell-offs during the week. The market plunged due to anxiety over US tariffs, increased recession fears, and bearish investor sentiment.
Top performers of the week
Despite the market slump over the week, some assets defied the downtrend and stood out due to their impressive performance.
Toncoin (TON) emerged as the best performer in the crypto market over the past seven days. Its price registered an incredible price growth of 19.40%, making it the top-performing crypto of the week. This price uptrend has been triggered by TON’s rising adoption, bullish sentiment around the Toncoin network, and the asset’s growing transaction volume.
It was followed by Story (IP), which recorded a price rise of 16.49% over the week. This growth has been driven by the recent launch of Story Protocol’s mainnet, its recent airdrop, and its popularity within the NFT and intellectual property sectors. The launch of Story protocol’s mainnet last month attracted massive interest and investor activity. Due to its unique capability, Story protocol’s blockchain has been gaining popularity in the NFTs and intellectual property sectors. Also, its recent airdrop program bolstered the network’s popularity and attracted more users to the platform.
Kava (KAVA) took the third position with a price surge of 16.42%. This incredible upward movement has been enabled by the growing popularity of the Kava platform in the DeFi market and its rising demand for collateralization, borrowing, and lending services. Kava provides collateralization, borrowing, and lending services in the DeFi market. As a result, it is highly attracting investors who are looking for high rewarding opportunities in the DeFi land.
Mantle (MNT) settled on the fourth spot with a 15.10% price jump. The altcoin’s specialization in improving transaction costs and processing runtime has made it an attractive alternative. MNT has continued receiving bullish market sentiment, suggesting that more buyers continue to enter the market and further solidifying the uptrend action.
Lastly, Cosmos (ATOM) scooped the fifth place with a price growth of 14.35%. This remarkable performance over the week showcases ATOM’s growing market confidence, suggesting robust investor interest and increasing token accumulation.
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