This has not been a good week for crypto. With the recent raise in interest rate by FED on energy, the market is speculating that cryptocurrency will be heavily affected. Even those that have made a weekly profit are almost next to negligible. Nevertheless, the pattern of the market can be understood by examining which currencies have been able to sustain their holds in these uncertain times. Here are the top weekly gainers:
Top Weekly Gainers
This is the namesake token that is in use for the trading on iFinex trading platform. In the previous week, LEO has gained a value of 2.74% with its current price at about $5.37. The total volume of the coin is around $8.43 million. Unus Sed Leo, the platform behind the LEO token, works towards building a better infrastructure for innovative crypto technologies, sort of working like venture capitalists for cryptocurrency.
This is a fork of Bitcoin Cash which in turn is a fork of Bitcoin. Forks for these coins were made to resolve the issues that came out with the advent of Bitcoin. Following the recent events, it seems that many traders are attempting to stock BSV tokens because of its ability to carry out many transactions and since the market is in turmoil, BSV is being used to cash out Bitcoin. The current value of BSV is around $54.15 with an increase of 20.57% over the previous week.
This is a stable coin created by Gemini. They follow a more traditional form of pinging by holding a number of USD corresponding to the number of dollars. This is one of the progenitor coins that is regarded as the first coins. Due to the change in the market, a lot of crypto liquidity is being transferred into GUSD. At the time of writing, there is an increase in the market but it is expected to fall back to a dollar soon.
HNT is aiming to create the Internet-of-Things by employing the nascent 5G technology to instill the decentralization of networks. This will allow many devices to connect with each other to create a decentralized network that has the privacy aspect of blockchain. This is the most practical use of blockchain technology. The investors see this as well. Hence, there has been no major decrease in its value over the previous week and the gain is up to 0.76%.
Binance USD (BUSD)
Another stable coin. If the general market is traversed, only the stable coins have been able to sustain a positive growth due to their holdings. BUSD is another example of a stable coin. It had a gain of 0.02% over the previous week.
Top Weekly Losers
CRV is a utility token of Curve DAO Token which is a decentralized exchange for stablecoins that manage liquidity. The protocol is endeavoring to become the forerunner of emerging decentralized finance. But their dreams are somewhat in doubt. For the previous week, the token lost 40% of its value and is currently priced at $0.7099. It is the biggest loser of the week.
APE has lost its value by 38.62% with its price at around $3.70. It is attempting to regain its momentum at the time of writing. It is an ERC-20 coin that is to engage in the making of the web3. Democratic in nature, APE is a user-governed coin by the coin holders. There are about 292 million APEs in circulation.
This is one of those gaming tokens that is striving to create the metaverse, gamefi, and the creator economy. Klaytn endeavors to expand by allowing developers freedom to create their own visions on their platform which will slowly build up the metaverse. But the metaverse seems like a distant dream right now as the current price of KLAY is $0.24 which is a 37.89% decrease over the past week.
AAVE is another token that has sustained losses near 37.65% over the previous week. The current value of AAVE is $61.54. This protocol is used for people to lend or borrow crypto from a fixed liquidity pool that can transfer between currencies from its main network. These are Ethereum-based currencies only.
This is the 67th-ranked coin in the market. Unlike most other tokens being built on Ethereum or Binance, WAVES is a token on the similarly named protocol that has more or less the same endeavors of coming to the top of the market. It has created space for decentralized applications and smart contracts. At the time of writing, the token has a value of $4.92, which is a 37.03% loss over the previous week.