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Nano Goes Giga in Down Week for Crypto Prices

Having tried to find acceptance above the $500 billion mark, the total value of all cryptocurrencies is set to end the week at a mild drop.

The number hit a low of $422 billion Friday as bitcoin, the world’s greatest cryptocurrency by market capitalization, fell to an eight-day mark of $9,593.

In the mean time, the total market capitalization stands at $445 billion – still down 8,26% from last Friday’s high of $485 billion. Apart from this, the total value has lost 14,32% from the weekly high of $519,42 billion (seen on Feb. 18).

The majority of the top 25 cryptocurrencies are reporting drops on a weekly basis. Nevertheless, small caps like nano, ethereum classic and vechain have managed to etch out profit.

Top performers

Nano

Weekly performance: +9,02%
All-time high: $34,40
Closing price on Feb. 16: $9.64
Current market price: $10,51
Rank as per market capitalization: 23

Nano (previously known as raiblocks) is a bitcoin rival claiming infinite scalability and no fees. The cryptocurrency reached a 10-day high of 0,00010955 BTC today. Nano wallet for Android went live in beta this week, although it’s unknown if the news has driven prices higher.

Ethereum classic

Weekly performance: +6.88%
All-time high: $47,70
Closing price on Feb. 16: $35,03
Current market price: $37,44
Rank as per market capitalization: 14

ETC, the original currency of the ethereum classic blockchain, has grown until $42.85 on Bitfinex earlier this week – its highest level since Jan. 15. The cryptocurrency reduced to $29,95 yesterday, amid a general market drop. Nevertheless, the fall was short-lived, and ETC has appreciated by more than 10% in the last 24 hours.

An ethereum classic hard fork called “callisto” (CLO) is reportedly due next week and holders of ETC at the time of the fork will get CLO coins at a ratio of 1:1.

So, the bait of making free money just by keeping the cryptocurrency in a blockchain wallet could keep it solidly bid in coming days.

Vechain

Weekly performance: +2,64%
All-time high: $9,45
Closing price on Feb. 16: $5,69
Current market price: $5,84
Rank as per market capitalization: 15

Vechain’s VEN token is the third largest gainer among the top 25 cryptocurrencies for the second week. It was also the best performing cryptocurrency last month.

The VEN/BTC diagram displays, the cryptocurrency is beginning to capitalize on the bull flag breakout occured on Feb. 15.

Bottom performers

Lisk

Weekly performance: -30,52%
All-time high: $39,30
Closing price on Feb. 16: $32,01
Current market price: $22,24
Rank as per market capitalization: 17

According to Bittrex, lisk (LSK) reached a $33,79 mark on Feb. 17, and fell right after the team behind the blockchain relaunched the project on Feb. 20.

The cryptocurrency had risen suddenly in the run-up to the relaunch date, and the drops may be just a part of the wider market dive.

Bittrex diagram displays the cryptocurrency is currently sandwiched between the 50-day moving average ($24,89) and the 100-day moving average ($18,96).

NEM

Weekly performance: -23,12%
All-time high: $2,09
Closing price on Feb. 16: $0,568887
Current market price: $0,437345
Rank as per market capitalization: 13

NEM’s XEM token is selling under the 200-day moving average on Bittrex and ranks second on the list of losers among the top 25 cryptocurrencies. The cryptocurrency was also the second largest loser last week.

This might be no surprise given the news story, it was noticeably involved in a theft when hackers stole over $500 million-worth of the digital asset from Japanese crypto exchange Coincheck, as a result, prices suffered little.

After that, it’s even been supposed to be the underlying platform for Venezuela’s new cryptocurrency, the Petro, though this, too, hasn’t done much to raise the markets.

Tron

Weekly performance: -18,02%
All-time high: $0,30
Closing price on Feb. 16: $0,052449
Current market price: $0,042997
Rank as per market capitalization: 16

Coming bottom in the top 25 this week is tron, which registered an 18% loss.

As of writing, though, Tron (TRX) is up 4% against the US dollar and the hourly diagram (prices via Bittrex) displays the bullish price-relative power index (RSI) discrepancy is behind the recovery from the weekly low of $0,03825.