Crypto market’s weekly winners and losers – LDO, ENS, WIF, NOT
What factors contributed to Pendle's top performance last week?
Pendle's top performance last week can be attributed to its exponential growth in total value locked (TVL), which jumped from $240 million at the start of the year to almost $4 billion in April3. The increase in TVL indicates Pendle's platform's growing acceptance and use for future yield trading and tokenization. Furthermore, the surge in Ethereum's restaking closely correlates with Pendle's expansion, as tokens restaked from Ethereum in systems like EtherFi and Renzo significantly enhance Pendle's ecosystem.
What caused Ethereum Name Service's price to drop mid-week?
Ethereum Name Service's price drop mid-week can be attributed to market volatility and a combination of factors such as profit-taking, overall market sentiment, and investors' reactions to news or events. It is important to note that cryptocurrency prices are subject to fluctuations, and conducting thorough research before making investment decisions is crucial.
Why did zkSync face significant losses during its debut week?
zkSync faced significant losses during its debut week due to market forces and the challenges of launching a new project in a volatile market. The rapid declines throughout the week led to a drop in its price and resulted in it being the highest loser of the week.