This Week’s Crypto Winners
The last week was actually a very calm one, with the total crypto market capitalization staying relatively flat. Bitcoin dropped approximately 5% over the week, but that is nothing compared to the wreckage that has occurred in the last few weeks. It is quite entertaining to think these 5% swings that Ripple, Ethereum, and Bitcoin show quite frequently would be considered significant in the equity space.
Veros was the top performer yet again (it was also the top performer last week), with an increase of 378% in the last 5 days and $2,032,521 of volume in the last 24 hours. What is interesting about this is how the coin has maintained its momentum in the last few weeks and volume has continued to rise. This environmentally based project is showing a lot of potential, but there still isn’t much concrete news out about it, so this is likely the result of having low beta with the market and being a very unique project.
The recently unveiled Alibabacoin has yielded a wild return of 97.75%, which is largely due to the rumors of its connection to the retailer giant, Alibaba. Massive controversy has ensued as it has become clear the two companies are not linked and it seems like they are merely piggybacking off the name to pump up the coin price. The company is focused on using facial recognition technology to better the security systems used for retail payments, which is very similar in terms of target market to Alibaba. With $17,350,776 in daily volume, it has definitely caught the attention of traders, but the question is: what will happen when everyone realized it is not Alibaba’s coin?
Consentium is a crypto wallet, chat, and community application that rewards you for your engagement. It basically enables content creators to monetize their group following, which is taking decentralization to the social media aspect of technology. This coin is very much in the altcoin territory, with a market capitalization ranked at 1762. CSM increased a crazy amount of 141% over the week, with $1,244,822 of daily volume in the last day.
TenX is an up and coming digital and physical card that enables users to spend cryptocurrency at any stores (even the ones that don’t accept crypto). Their goal is to unlock all the cryptocurrency investors have amassed but not figured out how to use yet. Seeing an 81% increase over the week, PAY is definitely going to be a coin to watch in the future.
Waves saw some steady increases this week, as it went through a 64% price run up. With a daily volume of $24,682,202, this is definitely the top performer in the top 25 of coins (ranked 23). The company is built around multi-currency wallets and a powerful decentralized digital asset exchange, with a strong partnership with Deloitte to add some pedigree to their brand.
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.
Featured image courtesy of Shutterstock.