GMT, ZIL, BAKE, FCT & ALPHA: 5 top-gaining cryptos of this week

Highlights

• Tokens such as GMT, ZIL, BAKE, FCT, ALPHA were among the top gainers in the crypto market
• The crypto market on 1 April was placed at US$2.14 trillion with a 24-hour volume of US$143.42 billion
• Zilliqa’s Zil token, in the past seven days, has soared 311 per cent

Cryptocurrencies like Bitcoin, Ethereum and Solana are trading in the green for the week. While Bitcoin was up by 0.91 per cent over the past seven days, Ethereum was up by 3.50 per cent.

The crypto market totalled US$2.14 trillion with a 24-hour volume of US$143.42 billion as on 1 April. While the known tokens are, there are a few who may have managed to outpace them with regards to growth margin.

Let’s look at the top five crypto gainers of the week within the top 500 ranked by market cap as per CoinMarketCap.

STEPN (GMT)

STEPN is primarily a Binance Smart Chain and Solana Driven blockchain protocol, which acts as a Web3 lifestyle app with fun social elements and a gamification design. The STEPN crypto in a way is quite similar to the play-to-earn game Axie Infinity.

Also read: Industry unhappy with the EEP’s decision to block ‘unhosted’ wallets

The governing token of the STEPN crypto is GMT, which has a finite supply and is required to level up and mint new pairs of sneakers. Players may lease or sell their NFT sneakers on the marketplace in the app. They can store their GST earnings in the in-app wallet, which has a built-in swap function.

GMT this week registered gains of over 275.86 per cent according to CoinMarketCap. At the time of writing the token was rallying by 20.94 per cent and was trading at US$2.85 with a 24-hour trading volume of US$5,256,686,882. GMT’s volume was witnessing a spike of over 42 per cent at the time of writing.

Also read: What is Bakery Token (BAKE), why is it trending?

Zilliqa (ZIL)

Launched in 2019, Zilliqa is a public, permissionless blockchain which is designed to offer high throughput. Not only is it faster with the ability to complete thousands of transactions per second, it also seeks to solve the issue of blockchain scalability by employing sharding as a second-layer scaling solution.

ZIL crypto was trading at US$0.196705 USD with a 24-hour trading volume of $5,702,007,017. The 53^rd ranked token was up by 0.19 per cent on 1 April. Zil, in the past seven days, has soared 311 per cent.

BakeryToken (BAKE)

Developed by the BakerySwap ecosystem, the BakeryToken (BAKE) crypto is primarily a decentralized automated market-making (AMM) protocol that is built on top of the Binance Smart Chain (BSC). BakerySwap is reportedly the first decentralised exchange to have an NFT marketplace.

Its claim to be unique is that it combines decentralized finance (DeFi) and non-fungible tokens (NFTs) into an easy-to-use platform. Due to this, the BAKE crypto is said to offer a variety of DeFi services, which ensures liquidity of the protocol. At the same time, users may earn rewards by the staking and minting of tokens.

The BAKE token in the past week rose over 106.3 per cent and on 1 April, it was trading at US$1.35 with a 24-hour trading volume of US$1,124,024,566. At the time of writing, it was up by 11.45 per cent and had a live market cap of US$261,634,378 

FirmaChain (FCT,FCT2)

Powered by the Ethereum blockchain, the FirmaChain crypto aims to replace written contracts pertaining to social and legal issues by using an electronic contract platform based on FirmaChain’s data blockchain. As some electronic documents may be easy to forge and the verification procedures may be long, blockchain’s decentralization may be used as a solution to resolve this.

FirmaChain can check a contract’s validity through its hash function, which can be verified in an independent node.

The FirmaChain token rose 89.71 per cent over the past week and at the time of writing it was trading at US$0.203655 with a 24-hour trading volume of US$743,753,704. FirmaChain was witnessing a rally of 55.37 per cent on 1 April.

Alpha Finance Lab (ALPHA)

Alpha Finance Lab is a cross-chain DeFi platform that seeks new ALPHA users across many blockchains, including Binance Smart Chain (BSC) and Ethereum. The platform aims to produce an ecosystem which aims to meet the needs of the industry. Leveraged yield-farming platform Alpha Homora was its second product.

ALPHA witnessed a rally of over 84.56 per cent over the past week. At the time of writing, the token was trading at US$0.580750 with a 24-hour trading volume of US$274,310,538. ALPHA on 1 April was up by 37.15 per cent.

Conclusion

It’s important to realise that the crypto market is volatile, and its prices can change at any point in time. Therefore, one must do a lot of market research when dealing with it.