The cryptocurrency market has experienced a notable shift over the past week, with Dogecoin emerging as the top-performing crypto asset among the top 10 cryptocurrencies by market capitalization. With an increase of 22.3% in its 1-week returns, the meme coin surpassed Bitcoin and Ethereum.
📸 Grayscale Crypto Snapshot – Assets
Our weekly snapshot of the top 10 #crypto assets by 1 week returns.–$DOGE #bitcoin #ethereum $SOL $AVAX $BNB $XRP $ADA $TON $TRX pic.twitter.com/lrvTmXVDwC
— Grayscale (@Grayscale) October 18, 2024
Read also: Meme Coins Rally: Dogecoin and Bonk Surge as Bitcoin Profits Flow In
While Bitcoin saw a 1-week gain of 11.9%, Ethereum recorded an increase of 9.4%. Other assets that included in the list were Solana (8.4), Avalanche (5.6), Binance Coin (5.4), XRP (2.7), Cardano and Toncoin (1.4), and TRON (0.3). The crypto assets experienced growth in varying stages during the same period.
Despite Dogecoin’s strong weekly gains, Bitcoin held its position in market capitalization, with a value of $1.35 trillion, and Ethereum in second place at $318.28 billion. Although Dogecoin’s market cap rose to $21.13 billion, its price hit $0.1443, reflecting an 8.46% increase over the last 24 hours.
Year-to-Date Performance Varies Across Cryptocurrencies
While the weekly returns provided insights into short-term trends, the year-to-date performance highlights the performance of the crypto assets in 2024. Toncoin led the list, showing a remarkable year-to-date gain of 128.2%, followed closely by Binance Coin (BNB), with a staggering 89.8% return.
Source: Grayscale
However, not all assets were lucky. Cardano and Avalanche stood out for their underperformance, with year-to-date losses of -42.1% and -29.2%, respectively. XRP also experienced a decline of -11.3% since the beginning of the year.
Bitcoin and Ethereum demonstrated stability and steady growth in 2024, with year-to-date gains at 59.5% and 14.2%, respectively.
Daily Market Activity and Price Trends
At the time of press, Dogecoin was trading at $0.1443, with a 8.46% price increase, while Bitcoin recorded an increase of 0.54%, and was trading at $68,352.42. In the past 24 hours, Ethereum was priced at $2,643.74 and experienced a 0.72% increase.
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