Overview of the Week’s Cryptocurrency Performance
In this report, we will explore the top five cryptocurrencies that have experienced significant gains and losses over the past week, along with a concise overview of their recent performance. All statistics are sourced from Coingecko, accurate as of March 12, 2023, at 11:00 am.
The Major Development: Bitcoin and Ether Decline
Bitcoin and Ether faced downward pressure recently, but a noteworthy occurrence was the decline of stablecoins, which lost their typical value stability.
Top 5 Crypto Gainers of the Week
Huobi BTC (HBTC)
What it is: A Bitcoin representation on the Ethereum blockchain, launched by Huobi Global. Current price: $106,403. Price change in the past 7 days: +365%. Market cap: $954,379,451. Trading volume: $529,943. Latest news: HBTC listed on Coinmarketcap.
Access Protocol (ACS)
What it is: A tool that enables content creators to restrict access to exclusive content on their sites, allowing them to monetize their offerings. Current price: $0.010. Price change in the past 7 days: +188%. Market cap: $314,777,507. Trading volume: $43,454,121. Latest news: ACS token sees a surge following the public airdrop related to Web3 paywalls.
NuCypher (NU)
What it is: A result of the merger between the NuCypher and Keep protocols, now known as the Threshold Network. Current price: $0.174. Price change in the past 7 days: +38%. Market cap: $225,313,087. Trading volume: $7,624,658. Latest news: The merger of NuCypher and Keep has successfully formed the Threshold Network.
Kwenta (KWENTA)
What it is: A platform designed for trading synthetic perpetual contracts. Current price: $601.94. Price change in the past 7 days: +27%. Market cap: $104,011,147. Trading volume: $1,848,628. Latest news: Kwenta DEX is attracting traders aiming to capitalize on Bitcoin and Ether price movements, regardless of direction.
Liquity (LQTY)
What it is: A decentralized borrowing protocol allowing users to obtain interest-free loans against Ether collateral. Current price: $216. Price change in the past 7 days: +15%. Market cap: $196,545,183. Trading volume: $148,428,825. Latest news: LQTY’s value has surged over 30% following its listing on Binance.
Top 5 Crypto Losers of the Week
RSK Infrastructure Framework (RIF)
What it is: A collection of open-source decentralized tools that facilitate the creation of accessible DeFi products. Current price: $0.094. Price change in the past 7 days: -36%. Market cap: $90,554,003. Trading volume: $8,072,238. Latest news: An altcoin designed to enhance Bitcoin’s capabilities saw a remarkable 90% surge in one day amidst rising interest in BTC DeFi.
SingularityNET (AGIX)
What it is: A decentralized marketplace for artificial intelligence, built on blockchain technology. Current price: $0.312. Price change in the past 7 days: -35%. Market cap: $377,661,783. Trading volume: $124,150,185. Latest news: Analysts suggest that the recent hype around ChatGPT could be the only support for AGIX.
Core (CORE)
What it is: A scalable, secure, and decentralized blockchain accessible to all. Current price: $1.92. Price change in the past 7 days: -33%. Market cap: $126,114,161. Trading volume: $49,865,44. Latest news: Participation in Core DAO’s airdrop has raised expectations for blockchain engagement.
Blur (BLUR)
What it is: A specialized NFT marketplace targeted at professional traders. Current price: $0.470. Price change in the past 7 days: -32%. Market cap: $191,257,138. Trading volume: $136,864,644. Latest news: The founder of Blur, a leading NFT marketplace facilitating billions in trades, shares insights on future developments.
Dash (DASH)
What it is: A cryptocurrency that enables content creators to monetize premium content through restricted access. Current price: $46.70. Price change in the past 7 days: -30%. Market cap: $519,961,235. Trading volume: $162,762,219. Latest news: A focus on Dash, Gala, and Terra Luna cryptocurrencies has emerged in recent discussions.
Conclusion
This analysis takes a closer look at the performance of various cryptocurrencies over the past week, spotlighting both the gainers and losers.
Disclaimer
The information provided herein should not be construed as financial advice. The team is dedicated to delivering independent and impartial news to inform the cryptocurrency community in the Philippines and beyond.
