Among the notable cryptocurrencies to keep an eye on this week, we have seen activity from XRP (XRP), the native token of the Ripple network, as well as Pyth Network (PYTH) and Sui (SUI).
Despite market volatility, the global crypto market cap remained above $1.6 trillion over the past week, showing a 1.86% increase to $1.64 trillion.
Source: Santiment
XRP has encountered challenges as it struggles to maintain a price point of $0.51. Recent market developments, particularly surrounding the ongoing Ripple vs. U.S. Securities and Exchange Commission (SEC) case, have contributed to the uncertainty. Additionally, a recent large-scale hack targeting Ripple’s co-founder and executive chairman, Chris Larsen, resulted in a loss of $112.5 million worth of XRP, further impacting the asset’s performance amidst a 5% decline.
PYTH Network’s native token experienced price fluctuations, reaching a yearly peak of $0.4457 before experiencing a steep correction. However, a listing on Binance led to a recovery campaign, resulting in a 32% gain for PYTH this week.
Sui, despite facing more red days than green ones, surged to an eight-month high of $1.65. With recent market turbulence, Sui has shown resilience, rebounding and reclaiming $1.4 and pushing to breach the $1.5 mark.
These insights offer a comprehensive view of the recent performances and trends of these select cryptocurrencies, providing valuable information for investors and crypto enthusiasts.
