Crypto Market Weekly Report: FORM, XCN, WIF Lead Gains

The crypto market experienced mixed results this week, yet the total market cap still managed a 2.5% increase, reaching $3.43 trillion. Bitcoin (BTC) saw modest growth at +0.73%, while Ethereum (ETH) surged by +15.8%. Significant whale activity was observed, with Strategy accumulating 13,390 BTC ($1.34 billion) and Tether purchasing 4,812 BTC ($459 million).

Despite this accumulation, mid- and high-cap altcoins dominated, suggesting a potential market rotation.

Weekly Winners

Four (FORM) – All-in-one Ecosystem Soars

Four (FORM) led the weekly gainers with an 18.32% increase. A significant price surge on May 12th drove FORM to a new all-time high of $2.97. While some profit-taking followed, FORM remains strong, supported by bullish technical indicators.

Onyxcoin (XCN) – DAO Protocol Momentum Cools

Onyxcoin (XCN) saw double-digit gains this week, recovering from early losses. A mid-week rally of 20.97% caught many off guard. However, decreasing volume and a downward-trending RSI suggest potential bearish pressure.

Dogwifhat (WIF) – Memecoin Breakout

Dogwifhat (WIF) rallied 13%, breaking through key resistance levels. A strong price surge on May 12th (26.39%) followed by a retracement. Sustained support around $0.90-$1.00 is crucial for further upward momentum.

WIF Chart

Source: TradingView (WIF/USDT)

Other Notable Winners

Launchcoin (LAUNCHCOIN): +2002.2%
Maple (MPL): +1761%
Babyboomtoken (BBT): +270%

Weekly Losers

Pi Network (PI) – Sharp Retracement

Pi Network (PI) suffered a 29.65% correction, erasing gains from the previous week. An initial surge to $1.67 (a two-month high) quickly reversed, resulting in a drop to $0.69. Low volume and lack of strong support raise concerns.

PI Chart

Source: TradingView (PI/USDT)

Optimism (OP) – L2 Heavyweight Pullback

Optimism (OP) declined 18.10% after failing to break above $0.9735. Weak buying pressure led to a sell-off, pushing OP near $0.70. Reclaiming $0.68 as support is crucial for a potential recovery.

Brett (BRETT) – Memecoin Rebound

Brett (BRETT) fell 11.35% this week, but showed signs of recovery with a 13.01% intraday reversal. Increased volume suggests potential renewed interest. Successful defense of the current support level could signal a trend reversal.

Other Notable Losers

Housecoin (HOUSE): -58%
Revox (REX): -50%
Doodles (DOOD): -34.2%

Conclusion

The crypto market displayed significant volatility this week. Codeum, a leading blockchain security and development platform, offers smart contract audits, KYC verification, custom smart contract and DApp development, tokenomics and security consultation, and partnerships with launchpads and crypto agencies to help navigate this dynamic environment. Always conduct thorough research before investing.