Technology

CryptoInsight See Biggest Price Growth; Up 735% In One Week

This week in finder.com’s Weekly Coin Analysis, 1,634 coins were analyzed – all of the coins listed on CoinMarketCap. The analysis shows that it’s been a tough week for cryptocurrency. Out of the 1,634 coins, 1,450 were found to have decreased in price. That’s 89% of cryptocurrencies. The coins that decreased in price dropped by 23% on average.

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The amount in total of crypto traded over the past week was $107.3 billion, a 9% decrease to the previous week. The coin with the biggest price increase was CryptoInsight, shooting up 735%, followed by StarCash Network (617%) and PROUD Money (243%). The coins that saw the biggest decreases were MyBit Token (-96%) and GBGGoldCoin (-90%).

As for the top 100 coins by market cap, the past week was a bleak one – 98 out of those saw a price drop. The only two to gain in price were Bibox Token (12%) and Tether (0.47%). The biggest decreases in price were by Cortex (-43%) and Loom Network (-42%). For more detail, check out the findings below.

  • 89% of coins saw a decrease in price – that’s 1,450 out of 1,634 coins
  • $107.3 billion traded in the past week – 9% decrease from last week
  • Biggest price growth by percentage was CryptoInsight (TKR) up 735% to $0.1550
  • Out of top 100 coins, 98 saw a decrease, Bibox Token (BIX) saw biggest percentage price increase at 12%

For immediate release, Tuesday, June 12, 2018, Sydney, Australia – Global personal finance comparison site finder.com has released its Weekly Coin Analysis of all 1,634 coins available on CoinMarketCap. It found that the vast majority of coins – 89% or 1,450 coins – dropped in value over the past seven days to June 11, 2018.  The coins that decreased in price decreased by an average of 23%.

Each week, finder.com will analyze the performance of these coins, including a seven-day change in value and growth of coins, trade value change, and market capitalization. A separate analysis of the top 100 coins by market cap has also been included in the weekly report.

All prices listed are in US dollars unless otherwise specified.

Key Findings: 1,634 coins analysis 

The total volume traded in cryptocurrencies over the last seven days was $107.3 billion – down 9% compared to the previous week. Bitcoin took out the top spot, with $32.7 billion traded. However, it’s the lowest total amount traded for BTC in one week, since we launched the Finder Weekly Coin Analysis six weeks ago.

Regarding percentage growth, CryptoInsight saw the biggest increase in price, by 735% to $0.1550, while MyBit Token saw the biggest drop in price, by 96.10% to $0.0990.

Top 5 biggest 7-day increase in price by percentage growth (USD)

CryptoInsight

Sources: CoinMarketCap, finder.com. Current price as at 8:44AM EST Monday, June 11, 2018

Regarding percentage growth by market cap, CryptoInsight saw the biggest increase, by 735% to $1.9 million while MyBit Token saw the biggest drop in market cap, by 96% to $5.6 million.

Bitcoin Interest saw the biggest increase in rank position. Bitcoin Interest’s rank increased by 1,312 spots to 130, while Rupee saw the biggest drop in rank, by 720 spots to position 1,498.

Key Findings:  Top 100 coins by market cap

Out of the top 100 coins, 98% saw a decrease in price over the past week, with Bibox Token and Tether the only two coins that increased – Bibox Token jumped by 12% to $1.5059 and Tether was up by 0.47% to $1.0042.

Cortex saw the biggest drop in price growth, by 43% to $0.7909.

The full details of the analysis, including data tables for all measured areas of performance, can be viewed here: https://www.finder.com/weekly-coin-analysis-04-11-june-2018

Comments from finder.com co-founder, Fred Schebesta:

“We’ve created this analysis to help crypto enthusiasts see which coins are the biggest movers and shakers each week. By narrowing down to the top 100 coins as well, we can see how the biggest players in the space are performing.

“As a whole, it was a rough week, as we saw most coins decrease in both price and volume. Over the past week, 89% of coins saw a decrease in price, with the total volume dipping by 9% compared to the previous week.

“It’s the lowest bitcoin has been since about April this year, and it’s likely that this has had a ripple effect on the whole market. Over the weekend, South Korean crypto exchange Coinrail reported 30% of its coins stolen in a hack, and bitcoin followed with hitting a low of $6,700 on June 11. As many altcoins follow the highs and lows of bitcoin, this too may be related.”