Over the course of the previous week, there has been a slight surge in optimism within the cryptocurrency market. Bitcoin and Ethereum have managed to slightly surpass key resistance levels, indicating a modest rebound.
This development has had a limited but positive effect on the overall market sentiment. Furthermore, a number of altcoins cryptocurrencies have experienced noteworthy growth in the weekly chart.
NEO is at the top of the list of altcoins experiencing significant gains this week, followed by Conflux (CFX) and Polygon (MATIC) in second and third place, respectively.
NEO has witnessed a remarkable surge of 20% in the last seven days, surpassing other top 60 tokens in terms of market capitalization. In the course of 14 days, it gained about 23.4%; the remarkable success of the token can be credited to the collaboration between Neo, the foremost blockchain platform driven by an open-source community, and AlchemyPay.
AlchemyPay’s integration with Neo provides a seamless connection between fiat and crypto economies, enabling convenient entry and exit points to the Neo ecosystem.
At present, NEO is trading at $11.29, demonstrating a 5% increase in the past 24 hours and a slight 7.65% surge in the 24-hour trading volume. The token hit its peak of $11.45 after beginning at $9.1174, displaying a strong and remarkable performance.
Meanwhile, Conflux (CFX) is also gaining attention from the community as a second top weekly performer. Over the past week, CFX has experienced an impressive surge of approximately 15%.
The token’s remarkable performance is due to the latest announcement stating that HaloWallet now supports a greater number of DApps on the Conflux Network. Users can now trade with Dmailofficial, CelerNetwork, GoledoFinance, SwappiDEX, and OfficialNucleon Dapps on Halo Wallet.
Currently, CFX is trading at $0.3264, reaching a peak at $0.3389 and closing the week at $0.329 after starting the week at $0.2964. These figures indicate a noteworthy performance. In the last 24 hours, the token has experienced a 1.24% increase, while its trading volume has decreased by 7.27% in the same time period.
Additionally, Polygon (MATIC) has also gained significant attention due to its weekly performance and notable gain of about 10%.
It can be attributed to the news that Blueshift, a cross-chain liquidity aggregator, has announced that they are now live and operational. Users can now enjoy seamless bridgeless cross-chain swaps between Polygon and Cardano.
Moreover, some popular coins are experiencing gains in weekly charts, including SOL at 6%, DOT at 4%, and Filecoin, with an increase of 6%, according to the data from CoinMarketcap.
Bitcoin (BTC) & Ethereum (ETH) Weekly Review
The leading cryptocurrency, Bitcoin, has witnessed a notable resurgence as it approached a critical resistance level. Following a period of 17 days, the currency successfully surged to $28,000.
Subsequently, on May 10th, Bitcoin encountered a significant decline, leading to a subsequent trading range fluctuating between $27,646.35 and $26,600.14. However, on May 28th, it exhibited a recovery and reached the resistance point of $28,193.45.
Similarly, Ethereum followed a similar trajectory during the previous week. On May 10th, it experienced a decline after reaching a notable resistance level of $1,900. Nevertheless, Ethereum managed to sustain a consistent trading range, oscillating between $1,835.55 and $1,742.40. However, it has recently shown signs of recovery, with its value climbing back to $1,915.72.
Meanwhile, Santiment tweeted that the cryptocurrency market has experienced a notable revival during the ongoing Memorial Day Weekend in the United States. Specifically, as Bitcoin and Ethereum regained their position.
However, the most remarkable development revolves around Fantasy gold, which has emerged as a significant highlight by skyrocketing an impressive 948% over the past week. The tweet also highlighted an overall increase in social volume for nearly all crypto assets, indicating heightened activity and interest in the market.
According to CoinMarketCap, Bitcoin is currently trading at $27,910.91, with a 3.95% increase over the past seven days but a 2.53% increase in the past 24 hours. On the other hand, ETH is being traded at $1,900.30, experiencing a 2.83% decrease in the past 24 hours and a 4.95% increase over the past seven days.