PiCK

[Weekly Crypto] Major virtual assets continue to decline… Zcash·Uniswap 'countertrend rally'

Doohyun Hwang

Summary

It reported that during this period, Bitcoin, Ethereum and other top market-cap assets all recorded weekly declines.
Among major altcoins, Solana and Cardano fell about 10% and 9.43% respectively, while Zcash and Uniswap rose 21.86% and 32% respectively, showing strength, it said.
Mid-cap coins such as Chainlink, Avalanche, Hedera, and Sui also continued to be weak, it said.

The virtual asset (cryptocurrency) market continued an overall weak trend this week. While most of the top market-cap assets, including Bitcoin (BTC) and Ethereum (ETH), recorded weekly declines, some assets limited their losses and showed relatively resilient performance.

According to CoinMarketCap as of 3:30 p.m. on the 15th (local time), Bitcoin was recorded at $95,937. It fell 5.82% on the week and also fell 0.48% over 24 hours. Ethereum also fell 5.65% over seven days to $3,211. It rebounded 1% compared with the previous day, but it was insufficient to reverse the overall weak trend.

The weakness among altcoins was more pronounced. Solana (SOL) fell about 10% over seven days, sliding into the $140 range. It was the largest decline among major large-cap coins. Cardano (ADA) also fell 9.43%, and Binance Coin (BNB) and Dogecoin (DOGE) fell 4.13% and 5.72%, respectively.

Despite this adjustment, some assets showed defensive strength. XRP (XRP) fell just 0.30%, effectively remaining flat. Tron (TRX) rose 2.57%, showing a rare strength among top coins. Privacy coin Zcash (ZEC) surged 21.86%, and Uniswap (UNI) also rose 32% on the week, continuing strong momentum.

Mid-cap market-cap coins mostly continued to be weak. Chainlink (LINK) fell 6.64% on the week, Avalanche (AVAX) fell 7.89%. Hedera (HBAR) fell 9.10%, and Sui (SUI) plunged 15.06%, recording the largest drop. Shiba Inu (SHIB) also fell 6.12%, joining the weakness.