The latest crypto rally has sparked widespread gains across the crypto market, with the total market up 10% from last week, according to The Block’s price data. The rally, seemingly driven by institutional interest, has led most coins to gain in value in the past week.
However, some coins have declined in value, and nearly every stablecoin has stagnated or decreased in supply — except for one major exception.
Here’s our recap of the biggest winners and losers from last week in crypto, taken from the top 100 coins by market capitalization according to The Block’s price data, as of the time of publication.
Biggest winners
While Solana’s recent surge has captured the attention of many, in the past week it was only the seventh-biggest gainer. The top slot belongs to Cronos (CRO), the layer-1 blockchain associated with Crypto.com, which is up 76.4% on the week. The chain supports both Ethereum Virtual Machines (EVM) and the Cosmos blockchain, allowing the chain to sit at the intersection of both ecosystems.
Illuvium (ILV) is the runner-up, with a price increase of 56.46% on the week. Illuvium is simultaneously the name of a game studio, its flagship blockchain-based game, and its token, which jumped in value after the game was listed on the Epic Games store ahead of its launch later this month.
The third-largest gains came courtesy of Kaspa, a proof-of-work Layer 1 blockchain which gained 53.48% in price over the past week. Kaspa is “aiming to be the fastest and purest proof-of-work consensus engine,” according to the chain’s X account.
Biggest losers
Only two coins saw notable declines in value over the past week. The biggest loser: Wemix (WEMIX), a blockchain-based gaming token that has declined 2.89% over the past week. Wemix was exempt from the gains seen by other blockchain gaming projects like Illuvium and ImmutableX, which was the fourth-biggest gainer on the week.
The second-biggest loser was Maker (MKR), which lost 2.71%. Maker came under fire from Ethereum co-founder Vitalik Buterin back in September, who sold his stake in the project and said MakerDAO was “torpedoing in weird directions.”
What about stablecoins?
While the total supply of stablecoins has grown by over $2 billion in the past week, the gains were almost exclusively led by Tether (USDT), which increased its total supply from 84.85 billion to 86.85 billion from 11/3 to 11/10, according to data from The Block.
However, its gains came at the expense of other top stablecoins, which saw their total supplies remain stagnant or decrease over the same period.
