TOP / FLOP in week 9

The crypto market has regained some balance this week despite a still tense geopolitical context. On an individual level, the 50 largest cryptocurrencies in the world have evolved between + 57% and -17% in the last 7 days. Discover below the 3 top and flop cryptocurrencies in week 9 among the global top 50.

Top 1 – WAVES: +57%

This week, the Waves crypto has been particularly light. With a price up of 57% over the last 7 days, Waves draws the best crypto performance of the top 50. This meteoric increase gave a nice boost to the overall capitalization of the crypto. Today, Waves brings up the back of the world’s top 50 with a capitalization of $ 1.88 billion.

Remember that Waves is an innovative blockchain protocol. One of its functions is to promote the development of decentralized applications and smart contracts. The rise in the price of WAVES this week can be explained in particular by three reasons:

  • The announcement of the upcoming migration to Waves 2.0;
  • A new partnership with Allbridge to connect Waves with other blockchains;
  • The upcoming launch of a $ 150 million funding to fund the development of Waves in the United States.

Top 2 – NEAR Protocol (NEAR): +17%

NEAR Protocol is a project designed for compete with Ethereum. With its sharding technique, NEAR Protocol is able to divide its main blockchain into sub-blockchains. The network thus manages to offer excellent scalability, which should be able to reach 100,000 TPS.

This week, the NEAR protocol announced its collaboration with Multichain. This collaboration should facilitate asset transfers and communication between the NEAR block and other networks. The NEAR token ended the week with a 17% increase.

Top 3 – Terra (LUNA): +10%

The LUNA token had already made an impression last week with an impressive 58% increase in 7 days. This week, the Terra network is again among the top 3 performing cryptocurrencies among the top 50 with a price increase of 10%.

During the week, Terra managed the construction of dethrone Ethereum in the ranking of the most stacked cryptos. According to data from Staking Rewards, the total value locked in on Terra is $ 26.7 billion, while Ethereum follows with “only” $ 24.9 billion.

Source: stakingrewards.com data from 2022-03-06 14:50 CET.

Flop 1 – Phantom (FTM): -17%

Like the Terra project, Fantom is one of the high-potential Ethereum killers. During the year 2021, the price of the FTM crypto has increased by more than 12000%! For the last 7 days, the Phantom crypto has not been in its best shape. In particular, the price of FTM suffered heavy losses on Sunday, March 6, 2022. Over the last 7 days, FTM lost about 17% of its value.

Despite this slack, Fantom remains a major player in DeFi. According to data from Defi Llama, the Fantom network is the 5th largest DeFi blockchain with $ 7.07 billion in TVL.

Flop 2 – UNUS SED LEO (LEO): -12%

UNUS SED LEO is the original token on the Bitfinex platform. The token had an excellent performance in the month of February. The price rose especially after the news of the arrest of a couple of hackers in connection with the hacking of the platform in 2016.

However, the LEO award has lost its breath over the last 7 days. The token shows one 12% loss since last Sunday. Note that the LEO price keeps a positive trend if we go back to 30 days (+ 13%), 60 days (+ 39%) or even 90 days (+ 51%).

Flop 3 – Helium (HNT): -9%

Finally, crypto Helium will sign 3th the week’s worst crypto performance in the top 50. The goal of Helium’s project is to revolutionize the wireless internet and establish itself in decentralized telecommunications. Lately, it seems that Helium has had supply issues that have affected the performance of the network.

The HNT course is in 9% speed loss over the last 7 days. The token is currently trading at a price of 61% below its ATH reached on November 12, 2021.

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