Key takeaways
Crypto markets saw many ups and downs this week. Altcoins surged with Aerodrome, Mantle, and Lido DAO up over 45%. MYX Finance and Loan Protocol posted massive spikes. Monero, Toncoin, and XDC Network led the weekly losses.
Bitcoin [BTC] kept its head down this week, but the altcoin market was anything but quiet.
While the big names in altcoins – Ethereum [ETH], XRP, Solana [SOL] and Cardano [ADA] – were busy racking up double-digit gains, a few under-the-radar tokens quietly staged their own rallies… or crashes.
Here’s a quick look at some of the market’s biggest hits and misses from this week.
Grab your coffees and let’s get started!
Weekly winners
Aerodrome Finance [AERO] – Explosive 56% gains this week
Aerodrome Finance [AERO] extended its breakout rally this week, surging from under $0.80 to highs above $1.25 before easing to $1.17.
The token’s rapid hike pushed the RSI into overbought territory at 70.9. All while bullish momentum remained firm on the MACD.
Source: TradingView
Its price action has stayed well above both the 9-day and 21-day EMAs – A show of strong short-term support despite today’s mild pullback. The rally capped off a week of intense buying interest, with volumes spiking alongside the move.
Keeping optimism high is news of DEX trading going live on the Coinbase app in the U.S. – A change analysts say could channel most of the trading flow through Aerodrome Finance.
As one X user put it,
“If you were paying attention, this isn’t news for you. If you weren’t, you still can.”
Mantle [MNT] surges amid network developments
Mantle [MNT] soared by 51.99% over the past seven days, climbing from near $0.68 to above $1.05. This, before cooling slightly to $1.02. The rally was driven by strong bullish candles earlier in the week, peaking around the $1.10-mark.
Despite today’s mild pullback, the price action has remained firmly in breakout territory – A sign that bulls are still in control. If buying pressure sustains itself, Mantle could retest its recent highs, with $1.15 emerging as the next resistance level to watch.
The growth streak has been further boosted by Bybit’s Co-CEO and Head of Spot Trading joining Mantle as advisors, lending weight to the project’s credibility. With $1.15 in sight, bulls may yet push for fresh highs.
Lido DAO [LDO] surges about 47% ahead of key update
Lido DAO [LDO] rallied 46.8% over the past week, breaking out from the $0.87-zone to peak near $1.37, before settling at $1.27. The surge was marked by strong consecutive green candles, underlining bullish conviction and rising trading volumes.
While today’s pullback hinted at profit-taking, momentum has remained firmly positive.
Traders are now eyeing 14 August, when Lido Labs will host its first Tokenholder Update Call. It will cover roadmap, strategic priorities, and long-term LDO alignment – An event that could keep sentiment elevated.
Other notable winners
Beyond the majors, smaller-cap tokens put up some great moves this week.
MYX Finance [MYX] led the top-1000 pack at press time, according to data from CoinGecko, with a staggering 1,323.8% surge to $1.64 on nearly $50 million in volume. Loan Protocol [LOAN] jumped 253.1% to $0.002673, while SOON [SOON] climbed 238% to $0.5034, backed by an impressive $399.9 million in trading activity.
Speculative fervor is clearly still very much alive.
Weekly losers
Monero [XMR] slides under bearish pressure
Since the start of August, Monero [XMR] has been on a steady downtrend, slipping from above $300 to $270.92. The decline accelerated between the 5-7 August, with consecutive red candles breaking key support levels. Brief relief came on 8 August, but follow-through buying failed to materialize, leaving the price action subdued.
A retest of the $264-$260 zone could be on the cards if bearish momentum persists.
Source: TradingView
However, that’s not all.
Monero’s latest price drop has been driven by fears over centralization. Qubic’s [QUBIC] mining pool – a L1 blockchain – now commands over 40% of XMR’s hashrate, causing concerns that a takeover could compromise transaction integrity and decentralization.
This brewing “crypto beef” has shaken market confidence, perhaps causing the bearish momentum since early August.
Toncoin [TON] faces weekly slide despite brief Telegram-driven bounce
Toncoin [TON] dropped by 10.38% over the past week, with selling pressure dominating early August. The price slipped from above $3.60 to around $3.32, as the CMF stayed negative and the RSI hovered near neutral – A sign of fading bullish momentum.
Source: TradingView
The most notable rebound came on 9 August, when Telegram’s confirmation of deeper blockchain integration spurred a 1.75% uptick and broke the consolidation phase. However, the bounce proved short-lived, with bears regaining control into the weekend.
XDC Network extends bearish streak with fresh losses
XDC Network [XDC] slipped steadily over the past week, losing ground from $0.093-levels early August to around $0.088 by 10 August – Marking a drop of over 5%.
After a brief midweek pause, sellers regained control, pushing the token to its lowest point in nearly two weeks. The sharpest intraday decline came today, when XDC shed nearly 3%, confirming persistent bearish momentum and weak buying interest.
Without a clear reversal pattern, the market bias will remain tilted to the downside in the near term.
Other notable losers
Graphite Protocol [GP] took the steepest hit, plunging 48.6% to $1.60 despite $14.1M in volume.
Infinitar Governance Token [IGT] slipped 18.4% to $0.115, while Blackhole [BLACK] dropped 16.7% to $0.7265, with the highest trading volume of the three at $19.78M.
Conclusion
The markets saw it all this week – Wild swings, sudden sell-offs, and moments of opportunity. Volatility isn’t slowing down, so keep your wits about you, dig into the data, and move with intention.
We’ll see you next week!
Next: Vitalik Buterin regains ‘billionaire status’ after Ethereum surges past $4,000!