With financial markets starting to decline worldwide due to persistent macroeconomic concerns, cryptocurrency and altcoin markets also erased their gains this week.
Dog-themed meme coins eclipsed the performance of other cryptocurrencies at the start of the week, wiping out most of the gains towards the end of the week.
However, on Friday, $210 million worth of Bitcoin long positions were liquidated and the crypto markets fell sharply as a result. Bitcoin and Ethereum tumbled around 12% and 18% respectively, while BTC fell to its lowest level in three weeks.
Bullish Leading Altcoin of the Week Becomes EOS Receiving Positive News
Despite the decline in the crypto market, there were also altcoins that remained in the green zone. Among the top 100 coins, EOS has been the most bullish this week. EOS followed an outlier, gaining 16.5% in the last 7 days.
On August 14, the EOS Network Foundation (ENF) opened registrations for its upcoming Yield+ incentive program. However, a hard fork is expected on September 21 on the EOS side.
However, the other altcoins that rose the most of the week were Chiliz (CHZ) and LEO.
The most depreciating cryptocurrencies of the week were Celsius company’s coin CEL on the verge of bankruptcy with 38% decrease, ROSE with 25.5% decrease and CRV with 25%.
*Not investment advice.
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