This Week’s Crypto Winners
The big news of last week was Bitcoin reaching new lows in this downmarket, but that doesn’t mean there weren’t some winners in the altcoin sector.
Midas Touch Gold
The Midas Touch Gold experienced the largest increase, with the price of the coin going up a full 139.50% in the last 7 days. This change is largely the result of it being listed upon yet another exchange, the SIMEX on the 21st. We saw a massive spike that night that has been maintained ever since. TMTG coin is all about enabling for easier and more secure trading of digital gold assets, a real world use case that is likely to get tons of use in the coming years. Just as Bitcoin is seen as a countercyclical asset, gold is as well, and there lies the upside.
Quasarcoin, or QAC, has experienced a steady increase in price over the course of the week. It is very much in the altcoin area (ranked 1832 in terms of market capitalization). The platform is an advaced reputation system based on blockchain technology, and it enables various APIs to reduce the anxiety while travelling and build trust along the way. The coin still technically only has a market cap of $0.00 USD, but that is due to the minimal coin supply and penny stock price.
Clams is ranked #334 in terms of market capitalization and went up approximately 100% in the last 7 days. The coin experienced a sharp run up on Sunday/Monday and is now finding its comfort area. There is no significant news out in the last week.
Bitcoin SV is the only coin in the top 10 (ranked #9) to see significant movement. It has experienced a steady increased and peaked midway through Monday. At the time of publishing, it was up approximately 94.3%. This coin is the most important fo the group for the simple reason that it is the result of the Bitcoin Cash hard fork, and represents the new direction of the group. The SV stands for “Satoshi’s Vision” which refers back to the original plans for the cryptocurrency the founder might have had. In a way, this is a “cheat” one to have on this list because it is the result of a hard fork and was naturally going to end up being quite high.
Olive is another altcoin that has experienced a huge spike in the last 24 hours. Up until November 13th, it was trading at approximately twice the price. Right now it is up 110% from it’s lows earlier this week, and there is also no significant news on this coin. Generally this means there are rumours about potential listings or a partnership in the works.
As you can see, there is a wide variety in the coins that were the biggest winners of the week. Some were in the top 100, and others had tiny market caps and aren’t even full penny stocks.
Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.
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