• FTX token, POPCAT, and Wormhole emerged as the week’s biggest winners.
• In contrast, Notcoin, Ethena, and Lido DAO topped the losers chart.

This week brought plenty of market volatility, with Bitcoin [BTC] facing a pullback. Despite this, a few altcoins managed to break away from the trend and posted notable gains.

Data from CoinMarketCap highlighted an overall bearish sentiment dominating the market, with fewer than 10% of the top 100 cryptocurrencies ending in the green.

Biggest winners

FTX Token [FTT]

FTX Token [FTT] re-entered the spotlight two years after its collapse, opening the week with a strong gain of over 57%.

It opened the week trading at around $1.4009 and closed near $2.6921, becoming the top-performing crypto of the week, with an impressive 60% gain.

This recent price action was fueled by speculation surrounding the defunct crypto exchange, FTX, which gained traction on social media. As a result, a significant spike in trading volume was observed. 

The MACD indicator reveals a bullish crossover, with the MACD line (blue) crossing above the signal line (orange). The histogram shifted into positive territory, indicating an increase in bullish momentum.

However, despite this uptick, the Relative Strength Index (RSI), which spiked during the crossover, has since reversed downward. This indicated that the initial buying strength may be waning.

As a result, the long-term upside potential could remain elusive for the time being.

As of this writing, FTT has seen a pullback of over 3% from the previous day’s close, accompanied by a signific

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Author: Ripley G