Grayscale has released its latest weekly profitability rankings, with XRP, SHIB, and DOGE leading the pack.
Explore the factors contributing to these gains, including major investor activities, market recoveries, and strategic incentives.
Stay informed on potential future movements and the broader implications for the cryptocurrency market.
Contents
Grayscale Releases "Weekly Profitability Rankings"
On July 19, 2024, Grayscale, a leading digital asset management firm in the United States, published the latest information summarizing the top 10 cryptocurrencies with the highest one-week returns.
Last week, the overall cryptocurrency market showed significant signs of recovery, with cryptocurrencies like XRP, SHIB, and DOGE recording particularly high profitability rates.
The reported cryptocurrency profitability rankings are as follows, along with their year-to-date returns:
| Cryptocurrency | 1-Week Profitability | Year-to-Date Profitability |
|---|---|---|
| XRP | 43.7% | 2.8% |
| SHIB | 13.6% | 80.2% |
| DOGE | 13.3% | 37% |
| ADA | 12.4% | -26.3% |
| BTC | 11.2% | 52% |
| SOL | 9.7% | 53.7% |
| ETH | 9.5% | 48.8% |
| BNB | 8.6% | 82.4% |
| TRX | 1.7% | 24.1% |
| TON | -1.7% | 212.2% |
Toncoin Achieves "212% Year-to-Date Return"
Toncoin (TON) ranked 10th in the weekly rankings with a -1.7% return, but it has recorded an astonishing 212% year-to-date return. BNB and SHIB have also seen returns exceeding 80%.
The long-term growth of TON is attributed to several factors, including the "incentive programs for Telegram users" and the increasing number of users engaging with "tap-to-earn games" within Telegram.
XRP's price increase is believed to be related to rumors that the lawsuit with the US SEC may soon be resolved, sparking optimism for further gains.
SHIB's price had plummeted due to a hacking incident at India's major exchange WazirX last week, but the downward trend has since stabilized and recovery signs are emerging, making future movements noteworthy.
As for DOGE, reports indicated that "whales have been accumulating large amounts of DOGE recently," suggesting that last week's price rise may be linked to substantial purchases by major investors.
Grayscale is also known for its Bitcoin and Ethereum ETFs (Exchange-Traded Funds), and has recently launched a cryptocurrency fund investing in AI-related tokens. This has led to speculation about the potential launch of ETFs for the cryptocurrencies listed in this week's rankings.
Despite a significant price drop in June, it has been reported that major investors were accumulating cryptocurrencies, with some experiencing price increases of over 10% in the past 24 hours. Thus, future price movements are drawing significant attention.
>> Click here to read the article on price projections
-
Bitcoin “Reaching $100,000 is a Matter of Time,” Says Renowned Analyst
Discover the latest Bitcoin price predictions from renowned analyst Michaël van de Poppe, who believes reaching $100,000 is just a matter of time. Read more on the accelerating ETF inflows and future projections.
続きを見る