Owotunse Adebayo
The crypto market has been increasingly frustrating in the last few days owing to the performance of some tokens. Top tokens like Bitcoin and Ethereum have seen a fair share of bearish performance to lead other tokens on the same path. Although the story is the same for most of the market, other tokens have posted a slight surge in the last few days. However, the market has not been able to recover from the massive bearish returns posted by tokens, seeing a decline of 3.42% in the last 24 hours. This article will discuss the top 5 best performing crypto in the market over the last seven days.
Top 5 Best Performing Cryptos This Week
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As mentioned above, the crypto market has taken a beating going by the loss posted by most of the tokens it houses. However, some tokens are still getting by amid the chaos, posting profits over time. Below is a comprehensive list of the top 5 best performing crypto in the market over the last seven days;
Algorand (ALGO; +30.87%)
Kickstarting the list for the best performing tokens in the crypto market over the course of this week is Algorand, with a massive surge of 30.87%. Algorand is a self-sufficient blockchain network that provides support to the application that it houses. The blockchain offers enormous scalability, among other features that make it stand out in the real-life application. Algorand also enables computations that rely on performance to create a trusted environment for decentralized applications. Although the mainnet came to life in 2019, it started handling up to a million transactions in 2020. This has helped the project, pushing the price of its native token at intervals. Its native token, ALGO, is presently trading at $0.764, with a price surge of 2.56% in the last 24 hours. The token has a market cap and trading volume of $5,208,105,922 and $761,881,584.
Tron (TRX; +26.65%)
TRX has a convincing performance of 26.65% in the last seven days, making its way into second place for this week. The Tron blockchain was launched in 2017, acting as a decentralized operating system. When it first launched, its TRX tokens were based on Ethereum but soon switched to its primary blockchain when it launched. The project was initially created to help content creators earn considerably from their projects. This way, it could provide rewards for them without centralized advertising platforms. Also, it was tipped to rival Ethereum during the first stages of its creation. Presently, the blockchain hosts decentralized applications and smart contracts. The native token, TRX, is presently trading at $0.083, seeing a slight surge of 0.82% in the last 24 hours. The token boasts a trading volume and market cap of $2,589,322,162 and $8,255,165,703.
Curve (CRV; +20.17%)
Coming in third place for this week is the CRV token, seeing a massive jump of 2.17% in the past week. The Curve project acts as a decentralized exchange that manages the liquidity on its platform using an Automated Market Maker. It came into the market in 2020, and the project has continued to grow since then. Its best spell came in the second half of 2020, realizing a massive gain along with other top tokens in the market. The project launched a DAO in August 2020, establishing its native token CRV during the same period. The DAO enables the network to connect a host of smart contracts for users to send in their liquidity. The token has grown over the years since it was debuted. The native CRV token is currently trading at $2.42, with a 3.17% gain in the last 24 hours. It’s trading volume in the last 24 hours is around $245,525,475 and a market cap of $1,116,078,202.
Helium (HNT; +9.92%)
In fourth place this week, we have the HNT token of the Helium project, posting a price increase of 9.92% in the last seven days. Helium acts as a decentralized blockchain that enables Internet of Things devices’ smooth and efficient work. It was launched in 2019 with a backdrop of allowing smart wireless devices to send messages across to each other using specially made nodes. The nodes are referred to as hotspots. They are armed with a wireless passageway and a mining device. This means that users in charge of these nodes earn rewards for their services. The native token of the project, HNT, is presently trading at $14.04, recording a 24-hour loss of 5.33%. Its market cap and trading volume is at $1,645,909,302 and $16,498,609.
Ziliqa (ZIL; +9.51%)
Completing the list for this week is the ZIL token with a seven days performance of 9.51%. The Zilliqa project houses a blockchain available for the entire crypto community. One of its main features is the high throughput which allows it to complete thousands of transactions in seconds. It acts as a second layer blockchain, hoping to solve speed and scalability issues plaguing known layer one blockchains. Besides housing several decentralized apps, the platform also enables staking and yield farming for traders to earn. The native token, ZIL, is used to carry out transactions and as payment for rewards on the platform. ZIL is currently trading at $0.077, with a decline performance of 2.75% in the last 24 hours. The token boasts a trading volume of $425,864,088 and a market cap of $985,410,562.
What you should Do to Make Profits?
Although the market is currently down, it goes without saying that traders can still make profits. However, making profits in the market is solely dependent on how good the strategy of traders is in the market. This is because the market is dynamic and reacts to some trends which affect the price of tokens. Traders should also endeavor to carry out a great deal of research before heading into the market to trade tokens. Also, they should learn to diversify assets in situations like this.
Conclusion
In the last few days, the crypto market has been going around in a bearish trend. This shows that traders are not pulling their efforts behind tokens. This is evident by the loss that Bitcoin and other top tokens have suffered. However, the market is gradually trying to return to winning ways. Should that happen, most tokens could have the big break they have been predicted to experience.
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