The cryptocurrency market saw some notable movements last week, with Bitcoin briefly retesting the $72,000 mark before retracing some of its gains. Despite this, the global cryptocurrency market capitalization rose modestly by $10 million, closing the week at $2.54 trillion.
Three cryptocurrencies stood out for their performances last week: Toncoin (TON), Cardano (ADA), and SwftCoin (SWFTC).
Toncoin (TON) hit a new all-time high of $7.86 on June 5, surpassing its previous ATH of $7.67. Despite some declines towards the end of the week, TON closed with an 11% increase. However, its on-balance volume (OBV) dropped, indicating a potential correction in the near future.
Cardano (ADA) struggled to break above the $0.40 territory last week, but a spike on June 7 saw it retest the $0.49 level for the first time in over two weeks. ADA closed the week with a 3% loss and must breach $0.46 to shift its momentum to bullish.
SwftCoin (SWFTC) experienced a turbulent start last week but saw a significant recovery, retesting the $0.0079 high on June 8 for the first time in three months. Despite entering overbought territory, SWFTC closed the week with a 36% spike and room for further growth.
Investors will be keeping a close eye on these cryptocurrencies this week as they continue to show promising price action and potential for further gains.