The word volatile' has been thrown around a lot this week and with good reason. There was mixed performance across our usual suspects and our second-tier coins, as earnings season in public markets may be influencing crypto. Investors are seeking to reallocate capital from one market to the other, and old-school crypto views are leading to flashes and crashes.

The Usual Suspects: Late Crash Sends Bitcoin to Loss

Bitcoin and Ethereum both finished this week with volatile results, with a loss of 5% for Bitcoin and flat performance for Ethereum. While both coins have been an upwards trajectory over the past three weeks, this crashed overnight.

Bitcoin started the week at $59,200 and saw volatility throughout the week with strong fluctuations before finishing the week at $56,200. Bitcoin peak at $62,300 this week indicates how strong the volatility has been this week

Ethereum experienced fluctuations with similar levels of volatility, showing how both Bitcoin and Ethereum can track closely together. Ethereum closed the week at $4030, a minor loss from starting the week at $4050. Ethereum peak of $4500 indicates the swings in volatility that both coins have experienced this week.

With earnings seasons in the US is underway, the increase in prices could be new investors reallocating their portfolios for future growth as some tech stocks continue to perform poorly, and then existing investors selling out due to this influx. As more companies report, and capital flows from public markets and into crypto, there may be a further increase in prices over the coming weeks.

The Best of the Rest: Avalanche Outpaces the Pack

Mixed results this week for our next tier of popular coins Cardano (ADA), Ripple (XRP), Solana (SOL), Avalanche (AVAX), and Polygon (MATIC). Avalanche and Polygon led the way for investors gaining 12% and 3% respectively. Avalanche closed the week at $123 and continues to climb after a month of top performance. Polygon continues to experience turbulence despite the modest gain this week and may be positioned to continue this trend.

Solana held flat this week at $130 an indication that investors are wary of the potential risks that have surfaced following the recent Solana hack. Cardano and XRP dipped slightly this week, closing 1% and 4% down respectively, but the overall magnitude of losses are softened by lower price tags.

Avalanche was the clear winner this week, outpacing its peers but volatility drives prices and day-traders could sell-off following this short-term gain and crash the coin back down.

The Weekly Loser: Axie Loses Momentum

One of the biggest success stories of 2021, Axie Infinity has quickly become of the largest declines this year. Axie (AXS) dropped over 14%, from a high of $92 to $79 at week close.

AXS is the in-game token and currency of the blockchain game Axie Infinity. Users collect Axies' and can earn AXS by playing, battling and trading in the game. The game soared in popularity last year with AXS reaching a high of $213 in 2021 but has since been on a decline.

AXS is our weekly loser this week because of a major loss and continued downturn. With some coins reducing in volatility and spread, AXS continues to yield losses for investors with no sign of slowing down.

The Weekly Winner: A Social Token with Ties to the OG Socialite

Rally Token (RLY) rose over 70% following a major surge in trading volume. The token is now trading at 55 cents, a big gain considering it started the week at 32 cents.

Rally is a token used by crypto venture studio SuperLayer Labs and is a social token that enables internet content creators (YouTubers, streamers, artists, gamers, and the like) to create their own coins that fans and audience members can purchase, enabling content creators to monetise their fan base.

SuperLayer Labs has a lot of investor interest and their token has strong creative minds using it. Their investors including famous venture capital fund, a16z, as well as internet investor Patty McCormick and several content creators including Nas and Paris Hilton. Their current users include the band Portugal the Man and major Twitch streamers who use the token to interact with their fans and audiences.

Tokens with a clear use case like Rally present an opportunity for investors if they can become the token of choice for a particular use case. Investors are betting on Rally to be the clear token for Social so this might be one to keep watching.

As mentioned a million times already, it been another volatile week for crypto but we've come to expect that. The narrative is shifting away from bear sentiment with some coins rising and this could continue over the coming weeks. To get informed about market movements, make sure to check our Monday Look Ahead at the start of each week.Sources: BTC Markets, CoinMarketCapThis post was written by Fresh Capital Media.