Best 5 coins of the Week
Last week, the cryptocurrency market remained bullish, leading to significant gains across many digital assets. Traders were pleased to see positive movements in the market, with several cryptocurrencies experiencing notable growth over the seven-day period.
Read our blog to discover which 5 coins experienced the highest percentage gains during the previous week and explore what would have happened if a trader had invested in them earlier in the week.
It's important to note that none of the information presented in this blog should be taken as financial advice.
Several cryptocurrencies have demonstrated positive growth in the past week, with XRP (XRP) ranking fifth on our list. This is not the first time XRP has appeared on our list of top performers.
XRP experienced a 7-day percentage increase of 11.33%, resulting in a market capitalization that surpassed 26 billion dollars.
- TOP Fact: XRP does not need to be mined, 100 billion were pre-mined upon the creation of the cryptocurrency.
XRP was created in 2012 by Ripple Labs and was thought to be a cryptocurrency tailored for fast transactions and transfers.
Our list of top 5 cryptocurrencies featured some new and lesser-known coins last week, including Frax Share (FXS). FXS experienced a significant gain of 13.21% and reached a series of new highs in 2019.
It is the most expensive crypto asset on our top 5 list and you can buy it for $8.
Frax Share is the first cryptocurrency based on a fractional algorithm. What is the principle of the fractional algorithm?
Imagine you have a pizza, and you want to share it with your friends. But you want to be fair and give everyone an equal slice. If you have 6 friends, you can easily cut the pizza into 6 pieces and give one to each. But what if you have seven friends? You can't just cut the pizza into seven equal slices.
Fractional algorithms in cryptocurrencies are like a special tool that helps people divide up things (like money or tokens) fairly, even when there's not an even amount to go around. So instead of giving one whole token to each person, the fractional algorithm will break the tokens into smaller pieces (fractions) and distribute those fractions to each person.
Several cryptocurrencies have experienced growth over the past week, including Hedera (HBAR), which earned the third spot on our list with an impressive growth rate of 15.13%.
Cryptocurrency and its decentralized network launched in 2019, and it has continued to follow the path that investors love for cryptocurrencies - rapid and large percentage increases.
The Hedera network provides fast and secure cryptocurrency transfers using the Proof of Stake (PoS) algorithm.
- TOP Fact: In 2021, Hedera announced a partnership with Africa's largest bank, the Standard Bank Group. The goal is to introduce crypto payments in everyday transactions.
Stellar (XLM) claimed the second spot on our list with an impressive 7-day growth rate of 15.74%. Although well-known and popular among crypto traders, for those new to the field, Stellar was launched in 2014 and now has a market capitalization nearing $3 billion.
The coin has been in existence for 9 years, and during this period 23 billion units have been put into circulation out of a total of 50 billion planned.
- TOP Fact: Stellar partners with leading companies in the computer industry. Among them with one of the most famous and big IBM.
For new traders considering investing in Stellar, we recommend opening your first portfolio on Cryptal, which provides an easy way to buy this cryptocurrency.
Solar (SXP) made its debut in our weekly blog and landed a very promising spot on the list. With an impressive 7-day growth rate of 162%, SXP took the top spot among the top five cryptocurrencies that generated the most profit for investors last week.
Solar launched in 2020 and, like several coins on our list, uses a Proof of Stake (PoS) algorithm.
It can be purchased at $0.68 and if a trader had bought $1000 worth of Solar at the beginning of last week, today his assets would be equivalent to $2620 based on growth.
7 days increase - $1620!
- TOP Fact: A total of 300 million Solar tokens are planned to be launched, of which 130 million are already in circulation.
Cardano (ADA) also followed the active growth trend and showed an impressive 12.35% increase, during which its market capitalization increased to $13 billion.
The well-known MEME coin Dogecoin is also actively following the trend, which met the hopes of many investors with a 6.32% increase.
Cryptocurrencies have been showing large percentage gains for several weeks and are maintaining a green wave. According to many experts and investors, right now is a good time to diversify your portfolio, or if you are not yet involved in the crypto industry, take your first steps.
The trend is confirmed by the 5 fastest growing cryptocurrencies on our list, as well as the famous and popular cryptos that did not fall behind the Bull Run trend.
Wish you successful Trading!