UNFI, BLZ, MCT, LCX, OCEAN: How these cryptos outshined leading cryptos

Highlights

• The global crypto market continued to show signs of struggle even this week as it was down by 1.21% with a total market cap of US$1.23 trillion and a trading volume of US$59.03 billion.
• Unifi Protocol DAO (UNFI), Bluzelle (BLZ), Metacraft (MCT), LCX (LCX), and Ocean Protocol (OCEAN) were the top gainers of the week between 3 June and 10 June.

The crypto market continued its struggle for momentum as most tokens are seeing a winter-like situation at present. Ever since the Terra fiasco last month, the market hasn’t shown signs of recovery. Leading cryptocurrencies, such as Bitcoin, Ethereum, Cardano, etc., were down by in the range of 1% to 5%. While Bitcoin was trading at US$29,922.04 with a trading volume of US$25,208,027,808, Ethereum was down by 2.60% and was trading at US$1,753.36 with a trading volume of US$12,725,579,534.

But amid all the bloodbath, tokens such as Unifi Protocol DAO (UNFI), Bluzelle (BLZ), Metacraft (MCT), LCX (LCX), and Ocean Protocol (OCEAN) outshined the leading cryptos with significant gains.

Let’s look at the top five cryptos that were the top gainers of the week. 

Unifi Protocol DAO (UNFI)

Mcap: US $35,092,179

Launched in: 2020

Founded by the online staking community known as Seasmeseed, Unifi Protocol DAO is primarily a DeFi token that aims to bring modern technology to the financial world.

With the help of blockchain technology, the UNFI crypto allows the users the opportunity to develop DeFi solutions for businesses. UNFI’s rewards system allows the investors and traders to maximise their rewards through staking for holding the UNFI tokens.

UNFI crypto in the past seven days managed to rally by over 226.74%. It, however, on 10 June, failed to maintain the momentum as it was trailing by 5.67% and was trading at US$8.13 with a 24-hour trading volume of US$19,40,53,245, according to CoinMarketCap.

Related read: What makes KubeCoin (KUBE) a revolutionary token?

Bluzelle (BLZ)

Mcap: US$62,414,181

Launched in: 2020

Built on top of the Ethereum platform, Bluzelle is a decentralised storage network for the creator economy. As a highly secure, censorship-resistant protocol it allows artist, publishers, etc. to protect their intellectual property rights. It offers data storage, and file storage features that are specific to the NFTs and DeFi.

The BLZ token witnessed a gain of over 144.54% last week and was the second-highest grosser. On 10 June, it was still generating decent interest with gains of over 12.13% and was trading at US$0.186727 with a trading volume of US$8,09,73,900.

Metacraft (MCT)

Mcap: US$179,743,181

Launched in: 2021

MetaCraft as the name suggests is a meta-universe play-to-earn game that boasts of several popular games, such as Barbarian, Celtic, Bard, etc. The challenge-based game urges the users to conquer new quests and is based on animations.

MCT crypto gained significant ground in the market as it rallied by over 46.9% in the past week or so. MCT crypto was displaying signs of a rally as it was up by 6.83%, It was trading at US$3.42 with a trading volume of US$82,97,216.  

LCX (LCX)

Mcap: US$69,313,225

Launched in: 2018

LCX crypto has been on a bull run of late as it rallied over 47.5% this week. The native token of the Liechtenstein Cryptoassets Exchange (LCX), LCX offers a long-term incentive mechanism to motivate stakeholders to participate in the ecosystem.

The LCX crypto was up 47.45% and was trading at US$0.094167 with a 24-hour trading volume of US$76,58,211.

Related read:  Why Ropsten test success is crucial for Ethereum?

Ocean Protocol (OCEAN)

Mcap: US$168,058,585

Launched in: 2017

Ocean Protocol is a blockchain-based protocol that allows users and businesses to monetise them using ERC-20 tokens. The OCEAN crypto gives users complete control of their data. Consumers can access the datasets that were previously unavailable.

In the last week, the token witnessed a rally of 38.98%. On 10 June, it was trading at US$0.287871 with a trading volume of $7,97,53,100 over a day.  

Conclusion

Though the overall market was down, the crypto market witnessed a few significant developments, such as Cardano surpassing Solana to become the sixth largest crypto by market cap, Ethereum Ropsten Merge that took place earlier this week, and the KUBE airdrop. But it would still require leading cryptos to recover before the overall sentiments go up in the crypto market.  

Market participants should not forget that crypto markets are volatile, and one should do their market research, before taking any investment calls.

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instruments or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete, or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.