The August 1, 2026 checkpoint confirms a trend that has become increasingly familiar throughout this Crypto Race: Bitcoin does not need to rise to regain ground against many altcoins.
BTC declined by 1.9% this week. That is hardly an outstanding performance, but it was enough to outperform the declines recorded by Akash, ATOM, Osmosis, and Algorand.
Akash remains at the top of Category 1 and is still the only asset showing a positive return since the beginning of the race. Its lead, however, is shrinking quickly. In Category 2, Nolus delivered a spectacular rebound of more than 53%, although it remains far below its January starting level.
As a reminder, each asset started the race on January 3 with a theoretical investment of $1,000.
Category 1: Akash Remains in Front but Slows Sharply
| Rank | Asset | Performance since January 3 | Weekly change | Value of $1,000 |
|---|---|---|---|---|
| 1 | Akash | +14.2% | −13.0% | $1,142 |
| 2 | Bittensor | −22.2% | +1.6% | $778 |
| 3 | Bitcoin | −30.2% | −1.9% | $698 |
| 4 | Algorand | −38.1% | −9.2% | $619 |
| 5 | Ethereum | −40.6% | +0.1% | $594 |
| 6 | ATOM | −43.3% | −11.9% | $567 |
| 7 | Osmosis | −49.3% | −15.0% | $507 |
| 8 | Avalanche | −53.8% | +1.9% | $462 |
Akash Keeps the Leader’s Jersey but Loses Much of Its Advantage
Akash remains the clear leader in Category 1, with a return of +14.2% since January 3.
The weekly trend, however, was clearly negative. Its price fell from $0.509 to $0.443, a decline of almost 13%.
Only one week earlier, Akash was still up 31.2% since the beginning of the race. A large part of that lead has therefore disappeared within a few days.
Akash remains the only asset in the category still trading above its starting level, but its position at the front is no longer as comfortable.
Bittensor Consolidates Second Place
Bittensor recorded a small weekly gain and reduced its overall loss to −22.2%.
TAO therefore retains second place, approximately eight percentage points ahead of Bitcoin. It is still well below its January level, however, with the initial $1,000 investment now worth $778.
Bitcoin Does Not Rise, but It Holds Up Better
Bitcoin declined by 1.9% this week and is now down 30.2% since the beginning of the Crypto Race.
Taken in isolation, that result may appear disappointing. It looks considerably stronger when compared with the losses suffered by several altcoins.
Algorand dropped 9.2%, ATOM almost 12%, Akash 13%, and Osmosis nearly 15%. Bitcoin therefore increased its relative advantage without having to move higher.
For several weeks, its main strength has not been acceleration but simply losing ground more slowly than the rest of the field.
Ethereum and Avalanche Avoid Weekly Losses
Ethereum ended the week almost unchanged, gaining 0.1%. Avalanche advanced by 1.9%.
Both assets nevertheless remain among the weakest performers since the beginning of the race. Ethereum is still down 40.6%, while Avalanche remains at the bottom of the ranking with a loss of 53.8%.
ATOM and Osmosis Fall Again
The week was particularly difficult for the two Cosmos ecosystem assets.
ATOM fell by 11.9%, taking its loss since January to −43.3%. Osmosis declined by almost 15% and is now down 49.3%.
Without staking rewards, the $1,000 initially allocated to OSMO is now worth only $507.
Category 2: Nolus Rebounds by 53%
| Rank | Asset | Performance since January 3 | Weekly change | Value of $1,000 |
|---|---|---|---|---|
| 1 | Gnosis | −22.6% | −1.6% | $774 |
| 2 | Nolus | −48.6% | +53.3% | $514 |
| 3 | Band Protocol | −57.1% | −4.6% | $429 |
| 4 | Shentu | −63.61% | −1.0% | $364 |
| 5 | Flux | −63.61% | −4.0% | $364 |
| 6 | Lava | −89.5% | −2.5% | $105 |
Gnosis Remains in Control
Gnosis continues to lead Category 2 by a wide margin, with a loss limited to −22.6% since January.
Its price declined slightly this week, but its lead remains substantial. Gnosis is now almost 26 percentage points ahead of Nolus.
Nolus Attempts a Spectacular Comeback
Nolus recorded the most significant move of the week.
Its price increased from $0.00120 to $0.00184, representing a gain of 53.3% in seven days. This rebound allowed Nolus to move directly into second place in the category.
The move still needs to be viewed in context. Nolus remains down 48.6% since the beginning of the year. The theoretical $1,000 investment is currently worth only $514.
This is therefore a strong recovery following a severe decline, rather than a complete trend reversal.
Shentu and Flux Separated by Only a Few Thousandths
Shentu and Flux have recorded almost identical performances since January 3.
Shentu stands at −63.606%, compared with −63.611% for Flux. The difference between the two assets is less than one hundredth of a percentage point.
Without rewards included, the $1,000 invested in either asset is now worth approximately $364.
Lava Remains Isolated at the Bottom
Lava declined by another 2.5% this week, bringing its total loss to −89.5%.
The original $1,000 investment is now worth approximately $105. The gap between Lava and the rest of the category remains considerable.
Rewards Change Some Positions
After approximately seven months of competition, rewards are beginning to create a visible difference, although they do not fundamentally transform the rankings.
With estimated rewards included, Akash improves from approximately +14.2% to +21.6%. ATOM moves from −43.3% to around −38.2%, allowing it to move back ahead of Ethereum.
In Category 2, Band improves to approximately −51.9%, while Shentu moves to around −56%.
For Flux, the estimated annual node yield of between 37% and 47% would bring its total performance into a range of approximately −55% to −52%. This substantially reduces the gap with Band, although it is not yet enough to move ahead of it.
Rewards therefore reduce losses and alter some of the gaps between competitors. They cannot, however, fully offset a price decline of 50%, 60%, or more.
Bitcoin Moves Forward Mainly Because Others Are Falling Back
The August 1 ranking does not show a major Bitcoin recovery. It mainly shows another week in which Bitcoin held up better than several altcoins.
Akash remains in the lead, but its advantage is shrinking quickly. Bittensor retains second place, while ATOM, Osmosis, and Algorand suffered another round of significant losses.
In Category 2, Nolus produced the week’s surprise with a rebound of more than 53%. That move allowed it to climb the ranking, but it remains far below its initial value.
Have Cryptocurrencies Gone on Holiday Too?
Judging by the relative calm seen across several chains in recent weeks, one might almost think that cryptocurrencies have also switched on their out-of-office replies.
Low volumes, limited on-chain activity, and prices sometimes moving at a leisurely pace: the market already seems to have settled down by the pool.
Validators, unfortunately, have yet to find the “holiday mode” button.
