Top 5 Cryptos of the Past Week
A bitter week for most cryptocurrencies is behind us. The Bitcoin price suffered losses of around 14%. Most altcoins have been hit harder. Therefore, we have to list a coin with a loss in 5th place. There are only 4 projects that are up past week.
5. Augur -0.3%
With only 0.3% losses last week, Augur ranks 5th. Augur is a decentralized prediction market protocol built on the Ethereum blockchain. Users can make bets and participate.
The result of an external review of the code, which was published on Friday, could be responsible for the relatively strong performance. There were many vulnerabilities that were found, but these can now be remedied. A possible buy signal for the considered long-term investor.
4. LEO Token +0.6%
The LEO Token is a crypto exchange token of the Bitfinex. It was issued last year to fill the financial hole that caused the freeze of around $850 million in the capital at financial services provider Cryptocapital. Immediately after the incident, Bitfinex borrowed money from sister company Tether to be able to pay off its customers.
News that Bitfinex has repaid $100 million to Tether could have made the week's relatively strong course.
3. Huobi Token +2%
The Huobi Token is also an exchange token. As the name suggests, it belongs to the Singapore-based Huobi exchange. The token was launched in 2018. Exchange tokens are generally more stable than the rest of the cryptocurrencies. Behind them is a company whose success also depends on the token price.
The announcement of the launch of the Huobichain test network could be responsible for the relatively good performance.
2.Power Ledger +21%
Power Ledger is a project from Australia, which is based on the Ethereum Blockchain. The company wants to decentralize and simplify energy trading.
The news that the company plans to expand to India could be responsible for the strong performance last week.
1. Kyber Network +39%
Last week in second place, Kyber Network now made it to the first place. Overall, the token price has increased by over 60% in the last two weeks.
Kyber Network is an interblockchain protocol that supports instant token swaps. The protocol can be integrated into any application and allows easy development of financial apps.
Despite a sharp drop in most other cryptocurrencies, the momentum of the week before could still have contributed to the last week's strong price development.