ALBAWABA - It is true that Bitcoin has dominated the global investment scene, grabbing headlines in international newspapers and websites over the past week as its price surpassed $69,000.
what the news about the cryptocurrency market did not highlight is the outperformance of other cryptocurrencies, even if they are not among the top ten. which analyzed the top 500 cryptocurrencies by market capitalization based on CoinMarketCap rankings, it was found that around 30 coins outperformed Bitcoin in terms of percentage gains during the past week.
Interestingly, two of these coins were among the most searched on Google during the same period: "Pepe" and "Shiba Inu." These coins have been among the most searched cryptocurrencies worldwide in the past two years. The biggest gainer among the top 500 coins was "Smog," which jumped by 392% in just 7 days. It belongs to the Solana blockchain and had a market capitalization of $265.3 million at the time of the report.
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The second-largest gainer was the "Myro" coin, with a weekly gain of nearly 266%. It is also part of the Solana blockchain, with a market capitalization of $339.5 million.
Other notable performers included "Floki" with a 225% gain, "Numbers Protocol" with a 225% increase, followed by "Shiba Inu" with a 168% jump. "Pepe" saw a gain of around 164% during the past week, followed by "Wen" with a 154% increase, "Kishu Inu" with a 153% rise, and "dogwifhat" with a 134% gain. "Palm Ai" saw an increase of 133%, according to the report.
It is worth mentioning that the future flows of capital into the cryptocurrency market will depend on several factors, including inflation data from the United States, China, and the United Kingdom, monetary policy trends, the upcoming Bitcoin mining reward halving in April, and most importantly, the trillions of dollars expected to be injected by investment funds, especially in the United States. Many experts estimate that this will drive the cryptocurrency market's market capitalization to new record highs, after it reached $2.92 trillion in November 2021.
Cryptocurrency Market Capitalization:
The market capitalization of cryptocurrencies increased by 2% at the time of the report, reaching $2.57 trillion, surpassing its previous peak in late November 2021.
* Bitcoin rose by 1.2% to reach $67,500 at 11:20 GMT.
* Ethereum increased by 4.6%, reaching $3,950.
* BNB gained 8.2% and reached $470.
* Solana rose by 5.6%, reaching $146.
* The largest increase was seen in Dogecoin, among the top ten cryptocurrencies by market capitalization, with a gain of over 11%, reaching $0.17.
