The global cryptocurrency market experienced a marginal downturn this week, with a drop of over $111 billion, bringing the valuation to $2.55 trillion. Nervos Network’s token (W) initially faced bearish pressure, resulting in a notable decline of 19.13% on April 1 and 2, dropping to a two-week low of $0.0164.
However, on April 6, the token’s recovery gained traction, surpassing the 50-day EMA and showing an upward trajectory, currently up 4.43% at the time of reporting. Nervos Network’s token has shown significant growth, reaching a 314% increase year-to-date, with a notable surge of 28% this month alone.
Despite initially dropping to a low of $1.17 on April 4, the asset experienced a recovery and currently trades for $1.06. However, it remains down 21.4% from the initial trading price, with a current market cap of $1.903 billion.
Pendle, another asset, witnessed a significant increase of 28.56% on April 4, marking its biggest intraday gain this year. Like Bitcoin, Pendle also entered a price discovery phase, hitting new all-time highs amid the current uptrend.
It surged to an all-time high of $7.21 on April 6, and has retained most of the gains captured throughout the week, boasting a market cap of $636 million and showing a 455% increase year-to-date.
