TOP 5 Cryptos of the Week
Note that none of the suggestions made in this blog are financial advice!
During the end of January and the beginning of February, many cryptocurrencies experienced growth in the Bull Market. The resurgence of the market and the rise in asset values are gradually being observed.
We'll be examining the top-performing cryptocurrencies from the period of January 30th to February 3rd in terms of percentage increase, and exploring how a crypto portfolio would have evolved.
Being among the first cryptocurrencies to join the bull market, Fantom (FTM) has seen a significant increase in value with a market turnover surpassing $1.642 billion and continuing to rise. As a result, it is the cryptocurrency with the highest market volume on our list.
For example, in the case of buying a Fantom worth $1000, the portfolio would be worth $1310 after one week, so the increase is 310 USD.
You can find information about Mina on their website and watch how the price of this cryptocurrency may develop in the future.
Eg: Mina worth $1000 purchased on January 30, would be a crypto-asset worth $1310 on February 3.
During the past week, the market capitalization of dYdX (DYDX) reached $500 million and the price of this cryptocurrency continued to grow. This is why it is now ranked 3rd on our list, with a total percentage increase of 40%.
In total, its unit price equaled $3.15, making it the most expensive crypto in our top five. Depending on the market activity, the price of this cryptocurrency is expected to increase further.
Eg: $1000 worth of DYDX purchased at the beginning of last week would be worth $1400 at the end of the week and therefore the portfolio would increase by $400.
The second cryptocurrency on our list is showing amazing growth compared to the previously mentioned assets. In the last 7 days, the total price of Render Token (RNDR) has increased by 88% and the unit price was $1.61.
This crypto takes 97th place in the list of Coinmarketcap and thus it successfully enters the ranks of the TOP 100 cryptocurrencies.
RNDR is an Ethereum token and its ATH was 23.07 GEL. One of the determining factors for its price increase was that the demand for it increased significantly.
For example, Render Token is the 24th most traded cryptocurrency on Coinbase.
If invested $1000 in RNDR, the weekly gain would be $1880 in the end.
You can visit its official website for more information.
$1000 worth of USTC Coin purchased on Monday of last week would be equivalent to $1910 by the end of the week. In other words - 100% profit.
This coin ranks 96th among the TOP 100 cryptocurrencies and its total market capitalization is equal to $220 million.
More information on Terra, Tokenomics, and WhitePaper can be found here.
Popular Cryptocurrencies: Bitcoin, Ethereum
Popular cryptocurrencies did not lag behind the growth trend either. Bitcoin price is up about 2.47% for the week, while Ethereum is up 4.72% in the 7-day period.
When engaging in cryptocurrency trading, it is crucial to take into account multiple factors, utilizes diverse trading signals, stay informed of market trends, and ultimately make an informed decision on which cryptocurrency to purchase.
None of the suggestions mentioned in the blog are financial advice, all decisions should be made by yourself.
Wishing you a prosperous trading experience!