In a highly tense global geopolitical context, the cryptocurrency market is trying to stay the course. The price of the top 50 cryptocurrencies has grown between 30% and above and 20%. Who are the winners/losers of the week? Discovered 3 top/failed in the last 7 days.
Top 1: Shiba Inu (SHIB)
The best crypto performance in the top 50 coins this week is attributed to Shiba Inu. SHIB price posted a nice 30% increase over the past seven days, while its big rival DOGE ended the week with a 1.6% loss.
If we reduce the time period between Sunday, February 6th and Monday, February 7th, we see that the value of SHIB rose by 50% in one day! Since then, the price has lost some of its gains again.
The high price of SHIB can be attributed to various factors. Already, a Layer 2 blockchain solution called Shibarium has welcomed a new partner: blockchain company Unification. This project holds out the hope of significantly improving the performance of the Shiba Inu. Then the SHIB token burning policy continues. Several SHIBs have recently been burned to promote an inflationary trend.
Top 2: UNUS SED LEO (LEO)
UNUS SED LEO comes on the heels of Shiba Inu with an increase of more than 27% over the past seven days. LEO is the native token of the Bitfinex platform. As a reminder, Bitfinex is 8y The world’s largest cryptocurrency exchange according to CoinMarketCap.
The price of LEO has generally increased since the beginning of 2021. During February 2022, the price recorded very noticeable movements. If we look at the price development over the past seven days, we can almost see a wall on the 8th of February.
But what happened about low Earth orbit on February 8? Bitfinex hacked in 2016 revealed! At that time, a massive hack managed to steal 120,000 BTC from Bitfinex. This week, we learned that 94,000 BTCs have been found! Two “Serial Entrepreneurs” will be responsible for this diversion.
This good news has clearly had a positive impact on the LEO community. On the same day, LEO reached a new ATH of $8.04. Now UNUS SED LEO has moved to 29y A place for global cryptocurrency.
Third place: Elrond (EGLD)
The third best performer of the week went to Elrond with an increase of 26% over the past seven days. Elrond is a blockchain ecosystem designed to accommodate decentralized applications (Dapps). If the project starts in 2017, it won’t actually launch until 2020.
Over the past few days, Elrond token has been listed on the Korean Bithumb exchange. According to CoinMarketCap, it is 17y global exchange. This recognition from a major global platform certainly helped drive up the price of EGLD.
In addition, the price of EGLD generally benefits from the success of its own DEX. Launched in November 2021, the DEX Maiar platform is increasingly establishing itself in the DeFi world.
flop 1: NEAR protocol
It’s almost a tradition now…you can’t do up/flop without finding NEAR protocol cipher! This is the performance of the corner since the beginning of our column:
- Week 2: Top 1 with +49%
- Week 3: 1 failure by -41%
- Week 4: 3 failure by -10%
- Week 5: Top 3 with +26%
- Week 6: 1 failure by -20%
NEAR Protocol is obviously playing a yoyo game and it’s very difficult to follow its path! Since the beginning of the year, the price of NEAR is down 29%. Despite these adventures, the NEAR protocol is still a cryptocurrency with great potential. It is a third generation blockchain that specializes in developing Dapps.
After entering the world’s top 20 at the start of the year, NEAR is currently 23y Square.
Flip 2: Solana (SOL)
The second worst performance of the week went to Solana with a 16% loss. SOL is currently 8y The world’s largest cryptocurrency with a capital of $30.6 billion. SOL is currently trading 59% below the ATH of $260.06 reached on November 6, 2021.
Like most cryptocurrencies, Solana bears the brunt of the prevailing global political instability. Analysts believe that Solana’s price has now reached a critical support level indicating a good recovery. The price could now rise in an attempt to break the resistance value at $115.
Flop 3: Internet Computer (ICP)
Let’s finish this flip 3 with an encrypted internet computer. ICP Crypto was launched in May 2021 with a value of $750 USD, and today it is trading around $20, a loss of 97%… Due to the more tense context in recent days, ICP limits the crash with a loss of 12% over 7 days.
Remember that ICP’s goal is to revolutionize the Internet by introducing a completely decentralized process. Thus ICP beat the major financial players. In fact, ICP is among the 15 alternative currencies with high potential in 2022 for Bank of America (the second largest bank in the United States).
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