As monthly consolidation continues to loom in the crypto market, retail investors are growing less confident every day as their portfolios contiune to lose value. There appears to be no safe haven, as the US stock market took a dive on Monday, it brought the crypto market down even further.
Short term traders on the other hand are enjoying the increased volatitliy as massive buy and sell orders duke it out. Whether you like to go long or short, here are some of the top market movers to watch this week.
Olympus (OHM) $588.69 (+1.95%)
The coin fit for gods, as its called, Olympus currently sits at #118 in market cap and has claimed a spot on the CND top gainers for the past 14 and 7 days. Over the past month, OHM has seen a 133% increase, despite the overall market correction. Will this trend continue?
Currently priced at $558.23, it’s still 58% down from its all time high back in April of $1,415. Blockchain novices might have a hard time getting orders filled with OHM as its currently only available on exchanges like 1inch and Uniswap. Also beware of slippage and high trade fees.
DASH (DASH) $136.66 (+16%)
Formerly known as XCoin, DASH is a familiar name to new and old crypto investors alike. Many market participants see Digital Cash as a better alternative to Bitcoin. With a current price of $136.66, the coin has seen a 16% increase on a day when the S&P is correcting.
Dash has also claimed a spot on the CND Top Gainers over the past 7 Days, maintaining a healthy 6.55% appreciation over last week. Despite this short term performance, however, DASH is currently down 90% from its all time high of $1,493 back in 2017 and had a fairly lackluster performance over the last market rally.
KuCoin Token (KCS) $9.34 (-9.65%)
After a recent launch of their KuCoin Win ecosystem, leading crypto exchange KuCoin and their KCS token saw a huge rally. The short term hype has since worn off, but the coin overall is still performing at +20% over the past 14 Days. Kucoin has been a favorite of US investors looking for low market cap altcoins and an alternative to Binance.
Sometimes the market just needs to take a breather, and this is what we could be seeing with KCS right now. KuCoin Shares have been down 33%, from $12.43 over the past week, which is a healthy retracement level for those looking to get in. KuCoin has great fundamentals and there is little reason to believe this project wont stand the test of time, aside from potential exchange regulations in the future.
Telcoin (TEL) $0.01 (-7.35%)
This one is for the bears and bargan hunters, as Telcoin has seen a massive 51% drop over the past 14 days, after being one of the market leaders in the last major rally. At its peak, Telcoin was trading at $0.06, now nearly down 82% from the all time highs.
Fundamentally speaking, not much has changed for Telcoin, making it a great buy for any long term investor who had the itch of FOMO for Telcoin back in March. It currently still sits in the top 100 market cap rank and is available on centralized exchanges like Kucoin.
THORChain (RUNE) $3.62 (-14.93%)
This is a Binance smart chain project that has been absolutly decimated over the past month due to a $5M exploit. THORChain has claimed a spot on every CND top loser chart from 24Hours to 30 Days. Down 82% from its all time high of $20.87, the last 7 days has brought nearly half of that loss.
Events like this don’t always end up bad forever. Kucoin suffered a major hack not long ago which shook investor confidence in the platform, but later recovered and is still one of the leading exchanges today. It’s been reported that Thorchain is looking to repay the stolen funds and help heal damage done to its affected users.