The general direction of the crypto market is south. Because of this, most of the top 100 cryptocurrencies on the market have been in the red over the last week, with the two largest, Bitcoin and Ethereum moving by +0.93% and -0.84%, respectively, in the last seven days.
Despite the general cryptocurrency market's direction over the last week, studying the movement of these coins in the market over the last week can be useful when it comes to determining which cryptocurrencies are likely to continue performing well and which ones are due for corrections in the coming week.
In this article, we put the performance of the best and worst-performing cryptocurrencies on scales, sorted by the best-performing coins, followed by the worst-performing coins from a weekly perspective.
Most of the best-performing cryptocurrencies on the market over the last week are relatively unknown, as several of the most popular ones are under respective dips. However, for obvious reasons, cryptocurrencies like Trust Wallet Token (TWT) have made a list for three weeks in a row.
As detailed below, others like Axie Infinity and EOS are top performers.
The NFT-based Axie Infinity game, created by Sky Mavis, is a gaming ecosystem that led the charge alongside others like Crypto Kitties in the 2021 blockchain gaming wave.
The price of the Axie Infinity token (AXS) has been rising over the last week, mostly due to an increase in Axie Infinity's network activity and several other network upgrades in November.
According to data from CoinMarketCap, cryptocurrency has been on the rise from an intra-day perspective and over the last week.
At the time of writing, AXS is up by 6.42% over the last day and by an impressive 24.69% over the last week.
Trust wallet token has been doing well over the weekly and monthly perspectives.
Due to the nature and timing of the FTX crash, the scramble for crypto self-custody skyrocketed, leading to spikes in the prices of several cryptocurrencies. Most of these are the native tokens of decentralized exchanges and self-custody solutions.
Trust Wallet Token has been one of the top-performing cryptocurrencies over the last month after the direct endorsement by Binance's CEO, Changpeng Zhao when FTX went down.
According to data from CoinMarketCap, TWT is struggling daily and is down by 3.29% over the last 24 hours at the time of writing. However, from a weekly perspective, the cryptocurrency has risen by more than 10%, making it one of the best-performing cryptocurrencies on the market over the last week.
EOS has rallied massively to the upside over the last week following its listing on Binance. With the new EOS listing on Binance, users of the EOS ecosystem will be able to transfer USDT in and out of the network without converting their USDT to EOS or using a third-party bridge.
Yield+, a platform that offers yield incentives to Defi applications on the EOS ecosystem based on the value of EOS and USDT locked into their protocols, will also benefit greatly from the new development.
According to data from CoinMarketCap, EOS is up by 0.55% over the last day and 11.04% over the last week.
The price of Synthetix fell below a descending resistance line since Aug. 13, causing a rejection on Nov. 5 that led to a low of $1.54. The price of the cryptocurrency has been on the rise ever since, making Synthetix one of the best-performing cryptocurrencies over the last week.
At the time of writing, CoinMarketCap calculates that Synthetix has risen by 0.15% over the last day and by 9.02% over the last seven days.
As counterparts to the best-performing cryptocurrencies across the market, others have performed poorly over the last seven days. Some of these are cryptocurrencies that performed well over the last two weeks, like LEO and Chainlink.
Although there is no clear reason for the dip in the price of the Osmosis token, the cryptocurrency has been in a dip over its daily and weekly perspective over the last day, as calculated by CoinMarketCap.
According to CoinMarketCap, the cryptocurrency has dipped by 3.02% over the last day and by a discouraging 10.28% over the last seven at the time of writing.
Chainlink is perhaps one of the most unexpected candidates for the worst-performing cryptocurrencies from a weekly perspective, owing to the great news about its new staking feature.
Early access to the Chainlink (LINK) staking program began on December 6, with the Chainlink development team announcing that the new staking feature will strengthen the project's node ecosystem.
However, despite the strong fundamentals, Chainlink has taken hits on hourly, daily, and weekly perspectives at the time of writing.
CoinMarketCap calculates that the cryptocurrency has taken a 1.02% dip on the hourly perspective, minus 3.57% over the last day and an 8.9% dip over the last week.
Like Osmosis, there is no clear reason why FLOW has dipped over the last week, but as far as the worst-performing cryptocurrencies go over the last week, FLOW has taken hits on its daily and weekly perspectives.
The cryptocurrency has taken a negative 1.63% dip from its daily perspective and a 7.51% dip from its weekly perspective.
Cosmos is also largely bearish after having taken hits on all timeframes. The cryptocurrency is down on its hourly, daily and weekly perspective, taking a 0.49% hit on its hourly perspective, a 1.93% dip from a daily perspective, and a 5.23% dip from its weekly perspective
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