Top 5 Cryptocurrencies of the Week

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This week, the most followed cryptocurrencies by Investing.com Turkey users were Terra (LUNA), Bitcoin (BTC), Ravencoin (RVN), Shiba Inu (SHIB), Reef (REEF), respectively.

Terra Classic (LUNC)

LUNC extended losses this week. 

Continuing its downtrend throughout the week, the cryptocurrency also drew an image that was affected by the arrest decision of Terra founder Do Kwon, in addition to the general market decline. Starting the week at $0.00043, LUNC dropped to $0.00024 towards the end of the week, losing 45% of its value. 

The LUNC/USD pair, which saw a partial recovery with the response buying from the lows of the week, was moving at the level of $ 0.00032 in the weekend transactions. While LUNC is up 14% in the last 24 hours, it is progressing with 26% depreciation on a weekly basis.

Terra (LUNA)

LUNA/USD

While LUNA saw a massive increase of close to 300% in the previous week, it rose as high as $7. 

LUNA, whose upward momentum decreased last weekend, started the week with a seller. The sales, which started at $ 6.5, continued throughout the week, while the hardest loss occurred with the emergence of new developments related to Do Kwon, and the cryptocurrency bottomed at $ 2.5. In the second half of the week, LUNA, which moves horizontally in the band of $ 2.6 - $ 3.1, is currently changing hands at $ 3.16. LUNA, which has risen 11% in the last 24 hours, has seen a 45% depreciation in a one-week period.

Bitcoin (BTC)

BTC/USD

Bitcoin became the second most followed cryptocurrency this week after Terra assets.

 Bitcoin continued its uptrend until the beginning of this week, with purchases from the bottom of the $ 18,000 band on September 7 and rose to $ 22,500. While hard sales came as the US inflation figures came above expectations, BTC changed its direction sharply and bottomed at $ 19,300 on the last working day of the week. The largest cryptocurrency, which recovered somewhat in weekend transactions, retested the $20,000 level and is now finding buyers in the $19,800 band. Accordingly, BTC, which has increased by 1% in the last 24 hours, has lost 7% in the last 7 days.

Ravencoin (RVN)

RVN/USD

Ravencoin has attracted attention with its recent performance and this week it became one of the 5 cryptocurrencies that  users showed the most interest.

 RVN, which started to be in demand at the beginning of September, saw a significant increase in value by 160% as it rose from $0.02 to $0.07 in the first half of the month. Ravencoin, which is among the Blockchain networks where miners who want to continue working in PoW switch during the transition of the Ethereum network to PoS, received serious demand during this period, while it entered a correction trend after the successful update of Ethereum's Merge. RVN, which fell to $ 0.046 today with sales starting from the peak price of the week, continued its correction trend. RVN/USD, which has seen a 6.5% decrease in the last 24 hours, has also lost its value on a weekly basis.

Shiba Inu (SHIB)

SHIB/USD

While the Shiba Inu was more sideways in September, the upside move from September 9 to 10 faced selling at $0.00013, and a bearish chart has formed on SHIB/USD this week. In this week's downtrend, SHIB bottomed out at the $0.000011 band yesterday, and continues to trade in this range in weekend trades. Shiba, which increased by 1% in the last 24 hours, continues with 10% depreciation on a weekly basis.

Reef (REEF)

REEF/USD

REEF, which is among the top 5 cryptocurrencies followed by our users this week, drew a different chart from the market throughout the week. 

REEF started the week flat at $0.003. Seeing a sharp upward movement on September 12, REEF moved volatilely in the $0.0046 - $0.0064 range after rising up to $0.005 in the first buying wave. It is seen that regular purchases have been made since yesterday in the REEF market, which has seen re-purchases after seeing a bottom in the 0.004 dollar band on the last business day of the week. Accordingly, REEF, which increased by 8% in the last 24 hours to $ 0.005, has increased in value by 33% in the last week.