The crypto market is closely tracking the stock market’s movements, reflecting broader economic trends. After a surge on Friday, spurred by a strong jobs report, cryptocurrencies saw a downturn on Monday morning as escalating tensions in the Middle East weighed on investor sentiment. However, Nvidia’s ( NVDA ) AI summit this week has somewhat provided a boost to certain AI-driven tokens, offering investors a glimpse of upward momentum in a market otherwise under pressure.
Let’s take a look at the trending cryptocurrencies this week.
FTX token (FTT)
The FTX Token (FTT) has seen a recent price surge, fueled by speculation that victims of
the FTX collapse
may soon receive compensation.
A key court hearing on creditor repayments
is set for Monday, with rumors circulating that the
disgraced cryptocurrency executive
Sam Bankman-Fried’s
exchange could begin distributing $16 billion to creditors later this month. The ongoing bankruptcy proceedings have sparked renewed optimism among investors, driving a significant uptick in trading activity as hopes of recovery grow.
The token is trading at $2.65, an over 25% jump in a week.
Sui (SUI)
Sui, the native cryptocurrency of the SUI Layer-1 blockchain, is built for high transaction speeds and efficient smart contract deployment. Its recent upward trend has been largely driven by the launch of
Circle’s USDC stablecoin on the Sui network.
Additionally, Nvidia’s upcoming AI summit this week has further boosted investor confidence, particularly among those interested in the intersection of AI and cryptocurrency. This convergence of events has positioned Sui as a key player in the evolving crypto landscape.
The cryptocurrency is trading at $1.96, an over 12% jump in a week.
Aptos (APT)
Aptos (APT), the native token of the Aptos blockchain, has experienced a surge in value driven by increasing institutional interest. Recently, Franklin Templeton, a leading global investment management firm, integrated its $435 million OnChain U.S. Government Money Fund (FOBXX) into the Aptos blockchain, further validating the platform’s potential. Additionally, Aptos Labs has strengthened its foothold in the Japanese market by acquiring HashPalette, a prominent blockchain company. This acquisition is particularly noteworthy as HashPalette maintains strong partnerships with major Japanese enterprises, including telecom giant KDDI, signaling Aptos’ broader ambitions in the region.
There has been a 7.5% jump in the crypto’s price in the past week, and it is now trading at $8.5.
Dogwifhat (WIF)
The recent surge in the Solana-based memecoin Dogwifhat (WIF) can be attributed to
significant online activities
and the growing
hype and cult culture for the memecoin.
While Dogwifhat is still down nearly 10% over the past week, the coin has experienced a 6% uptick in the last 24 hours. Currently trading at $1.50, the cryptocurrency appears to be regaining momentum as investors eye its potential for further growth.
The cryptocurrency is trading at $2.6, with nearly 9% growth in the past week.
Popcat (POPCAT)
Amid the rise of meme-culture in the crypto space, Popcat, a Solana-based cryptocurrency, has gained significant traction, reflecting broader market trends. The token has displayed a strong bullish trend, driven by heightened investor interest and increased market activity. Currently trading at $1.30, Popcat has experienced impressive growth, surging by nearly 42% over the past week.
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