TOP / FLOP in week 6

In a very tense global geopolitical context, the crypto market is trying to stay the course. The prices of the 50 best cryptocurrencies have evolved between 30% up and 20% down. Who are the big winners / losers of the week? Experience the 3 top / flops of the last 7 days.

TOP / FLOP in week 6

Top 1: Shiba Inu (SHIB)

The best crypto performance in the top 50 this week is attributed to Shiba Inu. The price of SHIB showed a nice increase of 30% over the last 7 days, while its big rival DOGE ended the week losing 1.6%.

If we reduce the window between Sunday 6 February and Monday 7 February, we see that the value of the SHIB increased by 50% in one day! Since then, the price has again lost some ground.

The increase in the price of SHIB can be attributed to various factors. Already, a second-tier blockchain solution called Shibarium has welcomed a new partner: the blockchain company Unification. This project holds the hope of significantly improving the performance of Shiba Inu. Thereafter, the SHIB token incineration policy continues. Many SHIBs have been burned recently to promote an inflationary trend.

Top 2: UNUS SED LEO (LEO)

UNUS SED LEO is on the heels of Shiba Inu with an increase of more than 27% over the last 7 days. LEO is the native token on the Bitfinex platform. As a reminder, Bitfinex is the 8thth the world’s largest crypto exchange according to CoinMarketCap.

The price of LEO has generally been rising since the beginning of 2021. During the month of February 2022, the price showed very marked movements. If we look at the development in the price over the last 7 days, we can almost see a wall on February 8th.

But what happened around LEO on February 8th? A revelation about the hacking of the Bitfinex platform in 2016! At the time, a major hack managed to steal 120,000 BTC from Bitfinex. This week we learned that 94,000 of these BTCs have been found! There are a few “serial entrepreneurs” who would be responsible for this diversion.

This good news has clearly had a positive effect on the LEO community. On the same day, the price of LEO reached a new ATH of $ 8.04. Now UNUS SED LEO has moved up to 29th place for global cryptos.

Top 3: Elrond (EGLD)

The third best performance of the week goes to Elrond with an increase of 26% over the last 7 days. Elrond is a blockchain ecosystem designed to accommodate decentralized applications (Dapp). If the project started in 2017, it was only really started in 2020.

Over the past few days, the Elrond token has been listed on the Korean stock exchange Bithumb. According to CoinMarketCap, it’s the 17thth global exchange. This recognition from a major global platform has certainly helped to increase the price of EGLD.

In addition, the price of EGLD generally benefits from the success of its own DEX. The DEX Maiar platform was launched in November 2021 and is increasingly establishing itself in the DeFi world.

Flop 1: NEAR protocol

It’s almost a tradition now … You can not make a top / flop without finding the NEAR Protocol crypto! Here is the performance of the corner since the beginning of our column:

  • Week 2: Top 1 with +49%
  • Week 3: Flop 1 with -41%
  • Week 4: Flop 3 with -10%
  • Week 5: Top 3 with +26%
  • Week 6: Flop 1 with -20%

Clearly NEAR Protocol is playing yoyo and its course is very hard to follow! Since the beginning of the year, the price of NEAR has fallen by 29%. Despite these adventures, NEAR Protocol remains a crypto with great potential. It is a third generation of blockchain that specializes in the development of Dapps.

After entering the world’s top 20 at the beginning of the year, NEAR is currently at 23th square.

Flop 2: Solana (SOL)

The second worst performance of the week went to Solana with a loss of 16%. SOL is currently on the 8thth the world’s largest crypto with $ 30.6 billion in capitalization. The price of SOL is currently trading 59% below its ATH of $ 260.06 reached on November 6, 2021.

Like most cryptocurrencies, Solana carries the bulk of the prevailing global political instability. Analysts believe that Solana’s price has now reached a critical level of support, indicating a nice recovery. The price could now rise in an attempt to break the resistance value of $ 115.

Flop 3: Internet Computer (ICP)

Let’s end this flop 3 with the crypto internet computer. Launched in May 2021 with a value of $ 750, the ICP crypto today trades at around $ 20, i.e. a loss of 97% … Given the more than tense context of recent days, the ICP limits the breach by a loss of 12% over 7 days.

Remember that the goal of ICP is to revolutionize the Internet by offering a completely decentralized operation. ICP has thus gained major financial players. In fact, the ICP is among the 15 high-potential altcoins in 2022 for Bank of America (the second largest bank in the United States).

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