[비즈한국] This column summarizes the market trends and movements of major cryptocurrencies within the top 100 by market capitalization each week. We provide comprehensive core information, covering not only major tokens like Bitcoin and Ethereum but also key issues in the altcoin market and global policy variables. We make the volatile cryptocurrency market as easy and fun to understand as watching Netflix.
According to CoinMarketCap, a global cryptocurrency market tracking site, Pi Network (Pi) recorded the highest weekly gain of 31.39% in the cryptocurrency market from 7:00 AM on March 6 to 7:00 AM on March 13. The current price of Pi is 385 KRW, having risen 10.74% over the past 24 hours. Pi Network is a mobile-based public blockchain project designed to allow numerous users to participate easily without specialized equipment, as mining is possible on smartphones by tapping a button once a day in the dedicated app.
Hyperliquid (HYPE) took second place with a weekly gain of 22.49%. The current price of Hyperliquid is 55,553 KRW, up 3.10% over the past 24 hours. Hyperliquid is a Layer 1-based decentralized derivatives exchange that executes trades and liquidations every second, featuring a structure where fee revenue is used for token burns, backed by perpetual futures linked to real-world assets like crude oil and metals, as well as billions of dollars in deposited assets.
Dacxi (DACXI) ranked third with a weekly gain of 19.68%. The current price is 6,245 KRW, down 0.29% over the past 24 hours. Dacxi is the utility token for the 'Dacxi' ecosystem, designed as an Ethereum-based ERC-20 token. Its structure includes staking rewards to encourage long-term holding by retail investors and fee discounts within its investment platform.
Render (RNDR) came in fourth with a weekly gain of 18.61%. The current price of Render is 2,449 KRW, up 7.49% over the past 24 hours. Render (RNDR) acts as a payment method for a network that bridges decentralized rendering and computational tasks, connecting users with idle GPU resources to 3D/video creators and AI developers, with its key feature being its integration with professional rendering tools like OctaneRender.
Bittensor (TAO) ranked fifth with a weekly gain of 14.26%. The current price is 317,967 KRW, up 4.70% over the past 24 hours. Bittensor is a decentralized AI network that rewards participants who provide AI models and computing resources across multiple 'subnets' with tokens. It is designed to collaboratively develop and share machine learning models using blockchain incentives.
River (RIVER) recorded a weekly gain of 12.88% and is trading at 27,244 KRW. Fetch.ai (FET) is trading at 253 KRW with a weekly gain of 11.38%.
LayerZero (ZRO) has a weekly gain of 10.14% and is currently at 3,074 KRW. JUST (JST) recorded a weekly gain of 9.19% and is trading at 79 KRW. NEAR Protocol (NEAR) showed a weekly gain of 6.26% at 2,009 KRW.
Pi Network's rise was ignited by news of the completion of a critical mainnet protocol upgrade and tests using the node's idle computing resources for AI tasks such as image recognition. As the upgrade was interpreted as a preliminary step toward future smart contract functionality and a reward system transition, analysts suggested that the market is re-evaluating the network's medium-to-long-term value, noting that “real-world use cases are becoming concrete.” Furthermore, its listing on the major U.S. exchange Kraken ahead of Pi Day on March 14 fueled the upward momentum.
Hyperliquid showed strength after data revealed that open interest for individual products exceeded $1 billion over the weekend, driven by a surge in trading of real-asset-linked oil and precious metal perpetual futures following the recent spike in crude oil prices and Middle East geopolitical risks. As the tokenomics, which uses 97% of derivatives trading fees to buy back and burn its native tokens, gains renewed attention, some analysts comment that “a structure where profits and token value are directly linked has stimulated investor sentiment.”
Regarding Dacxi, experts suggest that short-term trading demand surged as its real-time price and trading data began to be reflected on CoinMarketCap following new exchange listings after the completion of its contract migration and rebranding late last year. Analysts note that due to its small market capitalization and the nature of being a retail-focused platform token, the expansion of listings and the inflow of liquidity themselves acted as catalysts for price volatility.
The trend of funds flowing into projects with a clear narrative regarding “what the token is used for” rather than purely speculative themes suggests that selective risk-on sentiment in the altcoin market is continuing.
※ This article was co-written by Bizhankook and MetaVX's generative AI.