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Highlights
- Voyager Token (VGX), RAI Finance (SOFI), and Tribe (TRIBE) were the top-performing cryptos of the week.
- The overall market cap on 26 July was down by 0.61% over a day, according to CoinMarketCap.
The crypto markets have witnessed another volatile week as the overall crypto market reduced from US$1.04 trillion on 26 August. The overall crypto market was down by 0.4%, according to CoinMarketCap.
Bitcoin and Ethereum struggled as they were down 0.20% and 1.23% in the past 24 hours. The leading cryptos have now lost over 6.9% and 12% over the past week, according to CoinGecko.
Courtesy of such a volatile week, three tokens which have managed to perform well amidst the volatile week were Voyager Token (VGX), RAI Finance (SOFI), and Tribe (TRIBE).
Voyager Token (VGX)
Mcap: US$144,949,353
Voyager Token is a cryptocurrency broker offering its investors secure access to crypto asset trading. This crypto brokerage service boasts over 55 crypto assets catering to retail and institutional investors. Besides, it also offers smart order routing technology, which connects with over a dozen crypto exchanges.
The VGX token over the past week has gained over 89.36%, according to CoinMarketCap. The consistent gains over the past week have helped the VGX token continue the momentum even on 26 August. The token was up by 90.89%, with a volume gain of over 60005. The 157th ranked token on Friday was trading at the US $0.5206 with a trading volume of US $19,23,06,685.
RAI Finance (SOFI)
Mcap: US$36,914,927
RAI Finance (SOFI) protocol is designed to offer DeFis a wide range of assets offering a higher amount of liquidity. Operating on the Ethereum blockchain, SOFI crypto aims to solve the issue related to Layer-2 scalability. Rai does this by using the swap protocol and AMM together.
Rai crypto took the second spot, gaining over 66% over the past week. It was trading at US$0.190332 and a trading volume of US $2,64,48,616, according to CoinMarketCap.
Tribe (TRIBE)
Mcap: US$36,914,927
The Tribe crypto is a fully protocol which caters to smart contracts in a decentralized manner. The Tribe is one of the protocols which governs the Fei stablecoin. TRIBE was the third-highest gainer as it witnessed gains of over 58.29% in the past seven days. The token was also seeing a rally today, as it was up by 4.10% and trading at the US $0.237964 with a trading volume of US $2,01,52,407, according to CoinMarketCap.
Conclusion
Even other cryptos significantly impacted the crypto market, but Voyager, Tribe, and Rai Finance’s rally must be heartening. But at the same time, it shouldn’t be forgotten that cryptos have been volatile over the past week. Therefore, as investors, it is critical that one stays on top of things and do proper market research before making important investment decisions.
