The crypto economy has shed roughly $220 billion over the past week, with total market capitalization wobbling around the $3 trillion line. Bitcoin slipped from above $95,000 last Sunday to $88,798, a decline of 6.6%. Ethereum (ETH) dropped 11.6%, while BNB and XRP each fell over 7%. Solana (SOL) lost 11.1% during the seven-day period.
Hardest Hit: MERL Plunges Nearly 49%, Multiple Coins Suffer Double-Digit Losses
The biggest loser this week was Merlin Chain (MERL), which cratered 48.74% against the dollar. The meme coin SPX6900 (SPX) followed closely, dropping 31.13%. Flow (FLOW) declined 25.44%, privacy coin Decred (DCR) shed 24.93%, and Dash (DASH) fell 24.55%. ZEN slid 22.54%, BERA dropped 22.09%, EDU gave up 20.90%, ALCH slipped 20.81%, and Ethena’s ENA fell 20.73%. More than a dozen tokens recorded losses exceeding 20%.
Defiers: RIVER Soars 132%, Gold-Backed Tokens Shine
Despite the broad selloff, a handful of tokens managed to close the week in positive territory. River (RIVER) surged 131.7%, while Canton (CC) gained 36.1%. Oasis Network (ROSE) rose 25%, Kaia (KAIA) added 23.61%, and Myx Finance (MYX) climbed 18%.
Additionally, riding gold’s upward momentum, gold-backed tokens PAXG and XAUT each rose more than 9% against the greenback. These asset-backed coins attracted capital as investors sought safe havens amid the crypto rout.
Market Outlook: Volatility Persists, Risk Appetite Remains Key
This week’s price action serves as a blunt reminder that crypto markets can swing from celebration to carnage without warning. While most majors stumbled, outliers such as RIVER and tokenized gold proved that pockets of upside exist for those willing to look past the wreckage. The next move will likely depend on whether risk appetite recovers or whether the current turbulence still has more chapters to write. Investors should remain cautious and monitor macro factors closely.