- The overall market cap dipped to US$908.84 billion with a trading volume of US$75.03 billion over the past day on 17 June.
- Misbloc (MSB), Student Coin (STC), Revain (REV), Celsius (CEL), and Mrweb Finance (AMA) hogged the headlines as the top five gainers of this week.
The cryptocurrencies saw a volatile period this week as most tokens registered losses during the Black Monday, because of which investors were on the edge of their seats. The overall market cap dipped to US$908.84 billion from US$1.02 trillion, with a trading volume of US$75.03 billion. The largest crypto by market cap, Bitcoin, plunged to US$20,407 on June 15, losing almost 60% of its value since the beginning of this year. Ethereum was at US$1,040 and has lost around 25% of its value, according to CoinMarketCap
While the top guns failed to register an impressive week, a few little know cryptos made some remarkable moves in the market, climbing up the ladder to finish as the top performers of this week.
Let’s take a look at the top five gainers this week.
MISBLOC, also known as the Medical Information Service with Blockchain, is primarily an Ethereum-powered protocol, which offers safe and transparent medical services using blockchain technology. As a global medical service platform, it can effectively connect patients and hospitals using the blockchain method. By utilising MSB cryptos, the users can avail services at various hospitals at a lower cost.
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The MSB crypto over the past week has amassed gains of 94.45%, according to CoinMarketCap. On 17 June, the MSB crypto was witnessing an uptrend with a rally of 11.99% and was trading at US$0.157977 with a trading volume of US$18,21,903, according to CoinMarketCap.
Student Coin (STC)
Student Coin aims to narrow the gap between education facilities and blockchain-based technologies. The STC token aims to create awareness about the new technologies and use of cryptos in our daily lives.
With a seamless interface, it allows the users to easily design and create NFTs, and DeFi tokens. Believing in the concept of tokenisation, the users can make use of the STC crypto for crowdfunding, trading, voting, etc.
The STC crypto was the second-biggest gainer this week. It registered gains of 31.19%. On 17 June, Student Coin was rallying by 28.50% and was trading at US$0.005269 with a trading volume of US$19,17,371.
Revain is a unique token that reviews Ethereum blockchain-based tokens. It allows developers to receive feedback about their projects. Revain’s goal is to create a genuine feedback structure for products such as machine learning and blockchain. By using the AI tools, the token can ensure reviews that are genuine and are based on users’ feedback.
The REV crypto in the last 7 days managed to amass gains of 27.76%. REV crypto on Friday was trading at US$0.001273 with a trading volume of US$49,24,377 over a day, according to CoinMarketCap.
Mrweb Finance (AMA)
Mrweb Finance is a simplified and trusted decentralized financial system that rewards users for taking part in staking programs. Built on the Tron blockchain, AMA crypto is cheaper and scalable in nature.
Mrweb is designed to meet the demands of increasing transactions largely due to the Tron’s ability to handle about 2,000 transactions per second. Aiming to bridge the gap between the real-world payment system and cryptos, AMA crypto converts the cryptos into smart electronic cards, which will expire upon usage.
In the last 7 days, the Mrweb Finance crypto has managed to gain over 27%. On Friday, it was enjoying a rally of 8.17%, according to CoinMarketCap. It was trading at US$0.012172 with a volume of US$31,97,562.
Founded by Alex Mashinsky and Daniel Leon, the Celsius token is dubbed to be a one-stop shop for online banking and financial services for crypto users. The users are entitled to receive regular payouts and interest on their holdings.
The CEL crypto in the last 7 days managed to amass gains of 19.81%. CEL crypto on Friday was trading at US$0.622340 with a 24-hour trading volume of US$3,83,98,576, according to CoinMarketCap.
Even on Friday, the CEL token was witnessing a rally of 11.57% on Friday, according to CoinMarketCap.
The crypto market is witnessing a roller coaster ride mainly due to rising inflation. Rising interest rates and corrections in stock markets have prompted crypto investors to shift to safer assets. All major cryptocurrencies have been trading in the red lately, still, a few cryptos managed to shine in these volatile circumstances. But there is no surety that these cryptos will continue to perform next or this month or in the coming month. Investors should never forget the volatility factor of cryptos. Therefore, market participants should do their research and ensure they study the market trends well.
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