The market has shown relative stability over the past week. This has also affected the movement of altcoins. The rise of the dollar also indicates a curb on inflation which entails less saving which means less investment. So, any form of stability, for the time being, can be beneficial. But as ever, the market is volatile and coins are in constant fluctuation, here we present the weekly gainers and losers of the crypto-market:
The innovative step made by Andre Cronje, the protocol in mention is an aggregator service for decentralized finance (DeFi) investors. It uses the investment technique of yield farming that allows for more investment. Over the past week, YFI has seen a growth of 65.84% with its current price at around $10,957.65 at the time of writing. At the time of writing, 36,638 YFI are in circulation but this number is expected to grow with more investors.
A close second to YFI is Oasis Network, which has made a weekly gain of 65.40% over the previous week. It could have been the largest gainer of the week had it not been the 9.60% fall over the past twenty-four hours. Currently, its value is $0.07848. Oasis has a contract with Ethereum, Solana, Binance, and Avalanche. It is attempting to lay the foundation for Web3.
At the time of writing, the current price of Filecoin is $8.07 with a twenty-four trading volume of $1,220,448,763. Over the previous week, it made a profit of 53.33% over the previous week. But over the past twenty-four hours, it has also witnessed a 20.25% drop in its value. Filecoin is a blockchain-based storage protocol and allows people ownership over their own data.
This is the 99th-ranked cryptocurrency that aims to implement a use case-specific blockchain that is to transfer assets. The name of the protocol is a reference to the extremely popular tv series, Game of Thrones where a Raven is used to transfer information. Ravencoin has made a weekly gain of 44.83% over the previous week with its current price at $0.03542.
Ethereum has a hard fork of Ethereum (ETH). It was launched in July 2016. But the fork of Ethereum is significantly different from the Queen. Both of their development strategies are in different directions. This shows why the current value of ETC is only $33.75. But over the last week, ETC has been able to make gains of about 43.56%.
With the rise of the price of Bitcoin, there haven’t been many losers over the past week. Still, some cryptocurrencies still have had a paltry decrease. The following are the weekly losers:
Built on the Polygon chain, RVLT is the ecosystem token of CULT DAO. Cult wants to funds protocols and for its support, it has Revolt 2 Earn. At the time of writing, its value is $0.000000233. But it is a big loser of the week as it has lost 41.32% of its value of the previous week.
Blockchain needs to be enmeshed with good business services for the future if it wants to achieve accreditation and acceptance from the general populace. KOK wants to do that. But it has currently unsuccessful in achieving this. Over the past twenty-four hours, it has sustained a loss of about 30.91%. At the time of writing, it is valued at $0.3231.
Built on the Ethereum blockchain, GridPlus develops cutting-edge secure hardware for cryptocurrency and other digital assets. Since it is pinged to a physical item such as hardware, its movement is straighter. It is valued at $0.3304 and over the past twenty-four hours, it has seen a loss of about 26.97%.
Currently valued at $128.81, DGD is seeing a loss of about 22.88% over the previous week and 41.80% of its value has just decreased over the last twenty-four hours. Just like GRID, DigixDAO tokenizes physical objects. With the increase in worldwide inflation, the price of DigixDAO is sure to decrease.
Elemental Knights is an MMO game that has been running for a period of 14 years. GensoKishi is the metaverse version of the game. But the status of its token is in dire straits. Over the last week, MV, the native token of the GensoKishi metaverse, has sustained a loss of about 21.98%, taking its value to $0.316 per token.