Dogecoin Emerges as Top-Performing Crypto Asset, Surpassing Bitcoin and Ethereum

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.

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The cryptocurrency market has seen 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 a 1-week return of 22.3%, the meme coin outperformed Bitcoin and Ethereum in terms of short-term gains.

According to Grayscale’s grayscale Crypto Snapshot – Assets, Dogecoin's 1-week performance surpassed that of other major crypto assets, including Bitcoin, Ethereum, Solana, Avalanche, Binance Coin, XRP, Cardano, Toncoin, and TRON. While Bitcoin saw a 1-week gain of 11.9%, Ethereum recorded an increase of 9.4%. Other assets experienced varying degrees of growth during the same period.

Despite Dogecoin's strong weekly gains, Bitcoin maintained its lead in market capitalization, valued at $1.35 trillion, with Ethereum following in second place at $318.28 billion. Dogecoin's market cap rose to $21.13 billion, and its price hit $0.1443, showing a 8.46% increase over the last 24 hours.

Year-to-Date Performance Highlights Varying Fortunes

While the weekly returns provide a snapshot of short-term trends, the year-to-date performance highlights the performance of the crypto assets in 2024. Toncoin leads the list with a remarkable year-to-date gain of 128.2%, followed closely by Binance Coin (BNB) with a staggering 89.8% return.

However, not all assets fared as well, with Cardano and Avalanche notably lagging behind. Cardano showed a year-to-date loss of -42.1%, and Avalanche followed with a -29.2% loss. 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.

Latest Market Activity and Price Trends

At the time of writing, Dogecoin is trading at $0.1443, showing a 8.46% price increase, while Bitcoin recorded an increase of 0.54% and is 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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