These five coins stuck big gains even as Bitcoin BTC/USD failed to impress last week — now an analyst says that some of these could spell trouble for the apex cryptocurrency going into the next year.
The Movers This Week: Bora (BORA), Helium (HNT), yearn.finance (YFI), OKB (OKB), and XDC Network (XDC) were the top gainers this week.
BORA spiked 28.7% over the last week. The coin touched an all-time high of $1.66 in late November. Post its migration from Ethereum ETH/USD to the Klaytn (KLAY) blockchain, BORA can be deposited in the Klip wallet provided by KakaoTalk. A popular chat application in East Asia.
See Also: How To Buy Bitcoin (BTC)
HNT rose 18.4% over the preceding seven-day period. It touched an all-time high of $55.22 on Nov. 12. On Sunday, the Helium project showcased drone-delivery capable smart mailboxes on Twitter. These smart mailboxes are powered by the Helium network.
YFI gained 18.2% over the last week. The token touched an all-time high of $93,435.53 in May.
Yearn finance price has soared lately on news of massive buybacks and change in its tokenomics.
OKB is up 17.8% over the last seven days. The token associated with the OkEx soared earlier this month after the coin’s circulating supply diminished, while trading volumes rose.
XDC appreciated 15.28% for the week. The coin touched an all-time high of $0.2 in August.
The XDC network is undergoing recovery after suffering a panic interface conversion error, according to a tweet from the project on Sunday.
Shiny Altcoins Attracting Traders: Bitcoin’s dominance stood at 40.4% at press time, according to CoinMarketCap data. The apex cryptocurrency’s fading dominance means traders are looking at other coins, noted Edward Moya, senior market analyst at OANDA, in an emailed note.
“Many traders are gravitating to other coins such as Avalanche, Solana, Polkadot, and Hedera. If the focus primarily falls on altcoins at the beginning of next year, it may take Bitcoin a long time to return back to record high territory,” the analyst wrote.
Indeed, last week Hedera (HBAR) was up 25.51%, while Avalanche (AVAX) and Solana (SOL) saw gains of 22.05% and 5.54%. The only coin mentioned by Moya that traded in the red was Polkadot (DOT), which was down 15.58% for the week.
Read Next: Why Is XRP Soaring Even As Bitcoin, Ethereum Slump?
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