It’s Sunday…and Sunday is the time to take a look at the performance of cryptocurrencies for this week! As always, below you’ll find the best and final podium for this week.
Top 3 Cryptocurrencies for Week 12
Let’s start with the 3 cryptocurrencies in the top 50 that performed best in the last 7 days.
Top 1 – Ethereum Classic (ETC): 30%
The crypto Ethereum Classic rises to the platform again This week and up to the first place. Over the past seven days, ETC . has been increased by more than 30%. It was the same as last week. Thus, Ethereum Classic performs much better than the original cryptocurrency, Ethereum, which holds 10% over 7 days.
The performance of Ethereum Classic is marked by a global movement focused on altcoins. In fact, altcoins are once again popular and they work better than their parent cryptocurrencies! The same phenomenon is happening with Bitcoin Cash and Bitcoin in recent days. For some professionals, this corresponds to altcoin season.
However, in the long run, the potential of Ethereum Classic remains very limited compared to Ethereum. Remember that ETC does not plan to switch to a Proof-Of-Stake model and that crypto is not present in the DeFi sector.
Top 2 – Axie Infinity (AXS): 30%
Axie Infinity’s angle performance is a comeback Play to earn crypto coins in the foreground of the scene. As a reminder, Axie Infinity is a file gaming platform This allows players to develop creatures (axes). Axie Infinity was one of the first blockchain games and quickly became very successful.
The reason for the good shape of the AXS wedge is due toThe upcoming arrival of a new version of the game called “Origin”. According to Delphi Digital, Origin will be a “completely redesigned version of the popular Axie Battles game that everyone knows.”
3rd place – Cardano (ADA): 27%
It’s been so long since we’ve seen Cardano shine! Its ATH dates back to September 2, 2021 The price of ADA was $3.10. Since then, the course has experienced a real air pocket, much to the chagrin of its supporters. Despite its good momentum in recent days, the current price of ADA is $1.14, i.e. More than 60% less than his ATH. Cardano finished the week neck and neck with VeChain for third best performance in the Top 50.
And as a reminder, Cardano is one of the Ethereum killers. In other words, it is cryptography designed for decentralized applications.
Three reasons why Cardano looks good:
- Coinbase exchange just introduced ADA catcher. Staking allows cryptocurrency investors to earn interest by making their cryptocurrency available. On Coinbase, staking offers an annual return of 3.75%.
- Cardano is the most represented cryptocurrency (27.55%) in Grayscale Ethereum Smart Contract Platform. Essentially, this fund corresponds to a basket of several tokens that use smart contracts (other than Ethereum). This fund allows investors to invest in these currencies without having to buy them.
- The number of projects on the Cardano blockchain is growing, which translates to a TVL more than 300 million dollars.
3 FLOPs for Cryptocurrency for Week 12
As you understand, the week was bullish on the cryptocurrency front. Very few cryptocurrencies ended the week in the red. And for those who have it, it Only a small percentage decrease.
If these cryptocurrencies are part of our failure this week, their pullback is too weak to be linked to any particular news. The drop is also related to cryptocurrencies that have exploded in recent months. Moreover, It’s more of a respite than an air gap.
The three cryptocurrencies that show the worst performance are the following:
- UNUS SED LEO (LEO): -4%. This is the original code for Bitfinex (version 6 .).y exchange in the world according to CoinMarketCap data).
- Terra (Luna) – 3%. Terra crypto powers a mechanism to stabilize the prices of stablecoins in the ecosystem.
- Waves (waves): -3%. Waves is a cipher designed for decentralized applications. Created in 2016, Crypto Waves qualifies as “Russian Ethereum” due to its very strong links with Russian companies such as Rostec and Alfa-Bank. The irony of history is that its creator is Ukrainian. With the conflict, the Waves teams moved from Russia, settling in particular in Miami.
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