This Week’s Crypto Winners (January 15th)
January has mostly been filled with negative news in the crypto world. With lows being tested and several hacks or 51% attacks occurring in just the first few weeks, this looks to be a very exciting year for crypto altogether. One common pattern this week was spikes in price with little explanation for why they might have occurred. This is just a sign of increasing volatility in the markets, in which case most investors should be wary.
We’ve talked about Agrello before, and they’ve had another amazing week. Even though there were other coins achieving massive returns (CariNet managed 671.87% over the week), these coins often end up having a less significant market capitalization and trade more like penny stocks. Agrello’s 80.41% return and $42,103,013 daily hour volume are very impressive, but there is no news or announcement in either the message board or official company channels that might explain this. The legal contract startup seems to be in a volatile state, with the spike mostly occurring in the last 24 hours.
Tierion managed 45.03% returns over the week, with 24 hour volume of $9,731,569. The coin is currently ranked 260th in terms of market capitalization, and most of this increase is the result of a spike on January 15th. The company boasts the ability to create “proof” for companies who need audit trails, timestamping, credentials, and other authentication purposes. The messageboards don’t seem to have any idea what is causing this pump, and Tierion’s Twitter account doesn’t have any new news on this, so this is a rather surprising jump in price. The best thing to do in these illogical situations is sell if you were ahead, and don’t buy into the hype if you’re not.
VIBE was another big winner of the week, doing 24 hour volume of $19,659,426 and climbing 39.54%. Ranked 188th in terms of market capitalization, the company is centered around creating “virtual lives” and is basically a high level gaming startup. VIBE just released “VIBE or DIE”, their innovative new first person shooter. The game is designed so that VIBE tokens are required for enhanced gameplay, which is an interesting play on the gaming models developed in the past, where powerups and skins would create new revenue streams for the creators.
Ranked 56th in terms of market capitalization, Aurora experienced a large spike at the beginning of the week and a large one at the end, resulting in a 32.09% price increase and $2,597,114 of 24 hour volume. Aurora has engineered several breakthroughs regarding consensus algorithms and is targeting several industries like gaming, big data, artificial intelligence and IoT. By boasting lightning fast transactions and being smart about who they target, they have a higher possibility of gaining dominance in a specific space.
Optimal Shelf Availability Token
Optimal Shelf Availability Token went through a 49.35% run up over the week, putting it at 79th in terms of market capitalization. As the name would suggest OSA is a supply chain management company that uses smart contracts to improve the flow of data and goods. Once again, the company seems to have experienced no notable news, which leaves this increase as something to be taken with a grain of salt.
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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