Crypto’s Five Biggest Winners This Week

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 Crypto’s Five Biggest Winners This Week
Image source: Nattawit Khomsanit, Shutterstock

Highlights

  • Fantom’s price was US$0.85 just seven days ago and has shot to US1.68 where it sits as of September 10, 2021
  • IOST finished on Friday valued at US$0.08241 – a rise of more than 80 per cent from its price of US$0.045 seven days ago
  • Since falling into the red on Wednesday, Algorand has skyrocketed to US$2.11, making a seven-day gain of 78.58 per cent

It’s been a historic week for cryptocurrency as El Salvador became the first country in the world to adopt Bitcoin as legal tender for businesses and vendors across the nation.

However, as is so often the case with digital currencies, the historic highs gave way to a sudden dip in value as Bitcoin whales engaged in a mass sell off of the world’s largest cryptocurrency.

However, the spill was halted, with the biggest losers this week – Telecoin and Uniswap – losing just below twenty per cent of their value.

The gainers in the crypto space threw up much larger numbers. Here are the five best performers this week of the top 100.

  1. Fantom + 95.45%. US$1.68

Although many digital currencies suffered the ripple effects of Bitcoin’s drop off on Monday, Fantom managed to more or less stay clear of Bitcoin’s debris.

Fantom is a smart contract platform that provides developers with decentralized finance (DeFi) services using its own bespoke consensus algorithm. It addresses issues faced by other smart-contract platforms, such as slow transaction speed.

Fantom’s price was US$0.85 just seven days ago and has shot to US1.68 where it sits at the time of writing.

Image Source © Tashatuvango | Megapixl.com

 

  1. IOST + 81.64%.  US$0.08241

IOST experienced a slight dip mid week but rebounded strongly to finish on Friday valued at US$0.08241 – a rise of more than 80 per cent from its price of US$0.045 seven days ago.

IOST is a fast, fully fledged and decentralized blockchain network. One of the biggest challenges that IOST addresses is the reluctance of big companies to embrace blockchain technology due to scalability.

IOSR can process up to 100,000 transactions per second compared with Ethereum’s current platform which can process 20 per second.

IOST can be bought at many exchanges such as Bittrex, CoinEx, Livecoin, Binance and Bitrue.

  1. Algorand + 78.58%  US$2.11

Algorand has had an explosive last couple of days having started the week steadily before falling into the red on Wednesday where it sunk to US$1.15. Since then it’s skyrocketed to US$2.11 – making a seven day gain of 78.58 per cent.

Algorand is a self-sustaining, decentralized, blockchain which supports a wide range of applications. These systems are secure, scalable and efficient.

The blockchain was created to address issues pertaining to transaction speeds, which are slower on older platforms, like Bitcoin. Today, Algorand handles around a million transactions per day.

Image source © Traviswolfe | Megapixl.com

  1. Quant   + 73.11%.   US$320.91 

Quant had a tremendous start to the week jumping from just above US$250 on Sunday to more than US$370 in the space of 24 hours. It settled at around US$320, making it a seven day rise of 73.11 per cent.

Quant, launched in 2018, aims to connect blockchains and networks on a global scale.

Quant has had a strong 2021 so far and has increased more than 3,200 per cent since January 1, 2021.

  1. NEAR Protocol + 69.20%.  US$10.02 

Today caps off another week of impressive gains for NEAR, which was valued at $US6.03 seven days ago. The last 24 hours has seen it soar to as high as US$11.60 before dropping to around US$10 – an almost 70 per cent gain in the last week.

NEAR Protocol is a decentralized application platform designed to make apps usable on the web.

NEAR Protocol is a proof-of-stake network, while its native token (NEAR) is used for staking as well as for fees to pay for processing transactions.

It’s been a good recovery in the crypto space following what some might say was a difficult period for crypto following Bitcoin’s mini crash. As always, it will be interesting to see what the next seven days holds.

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