This Week's Market Recap: FTX Token (FTT) Re-Enters the Spotlight, While Notcoin (NOT) Hits New Lows

This week brought plenty of market volatility, with Bitcoin [BTC] facing a pullback. Despite this, a few altcoins managed to break away from the trend and posted notable gains.

FTX Token (FTT) emerged as the biggest gainer among the top 100 cryptocurrencies this week, posting a remarkable 60% gain.

After a week of consolidation, FTT finally broke out on the 4th of October, surging over 50% to claim the top spot among the biggest gainers. This recent price action was fueled by speculation surrounding the defunct crypto exchange, FTX, which gained traction on social media.

As a result, a significant spike in trading volume was observed, with FTT's volume surging to 250 million. This volume was the highest among the top 100 cryptocurrencies and played a crucial role in boosting FTT's market capitalization by 7% to $850 million.

After entering October with a bearish crossover, a spike in trading volume prevented a deeper pullback. This signaled that the initial buying strength may be waning, which could limit the long-term upside potential.

Concluding the week with a pullback of over 3% from the previous day's close, FTT experienced a significant drop in trading volume, which fell by more than 65% to 25 million. This volume was the lowest among the top 100 cryptocurrencies and played a crucial role in decreasing FTT's market capitalization by 2% to $850 million.

Solana-based memecoin POPCAT was the second-biggest gainer this week, kicking off the week with a 7% rise to $0.9820.

This upward movement reversed the bearish trend and allowed POPCAT to consolidate for four days straight. The most significant spike happened on the 4th of October, when a breakout pushed POPCAT above $1, after a remarkable 21% gain for the day.

Concluding the week with a 30% gain, POPCAT's market capitalization stood at $1.19 billion, with a current value increase of 0.46%. This impressive performance positioned POPCAT as the second-biggest gainer among the top 100 cryptocurrencies.

Wormhole (W) closed the week in the top three, achieving a weekly rise of over 15%. It opened the week with a 4% rise to $0.3003.

However, it quickly shifted gears with a 7% decline the following day, which erased all the gains made earlier.

The trading volume surged to 290 million on the 2nd of October from 75 million the day before, marking a staggering 286.67% rise. This spike was the most notable of the week, with W closing at $0.3438.

A significant pullback to $0.3180 occurred the day after, but this was soon challenged, allowing W to close the week at $0.3411. Despite this, its trading volume has dropped by 37% in the last 24 hours, while its market capitalization currently stands at $877 million, with a 2% decline.

Notcoin (NOT) hit daily new lows, resulting in a 12% drop, making it the biggest weekly loser. It opened the week with a slight dip and experienced a sharper 8% decline the following day.

Trading volume also dropped significantly, plummeting from 8 billion to 3 billion over the past seven days.

Concluding the week with a slight rise to $0.007305, NOT's trading volume decreased by 25% in a day to $69 million. Its market capitalization was $748 million at press time, down by 2.5%.

Ethena (ENA) closed in on NOT to be the next biggest weekly loser, according to CoinMarketCap data. After opening the week at $0.3389 with a 6% rise, ENA faced a strong depreciation, resulting in over a 20% weekly drop and closing at $0.2750.

ENA's trading volume has seen a significant 50% drop, now sitting at $49 million. Its market cap stands at $789 million, down by 5%.

Marching closely behind the top two weekly losers is Lido DAO (LDO), which also recorded a decline of over 20%, making it the third-largest loser of the week.

Similar to NOT, LDO faced a challenging week with consistent lows, highlighted by a bearish crossover of the MACD line on the first day of October.

The coin opened at $1.334 and ended the week at $1.051, with a slight recovery made a day prior. Its trading volume has dropped by 43%, settling at around $44 million, while its market cap fell by