Which cryptocurrency owners other than Bitcoin were able to enjoy strong price gains this week? Well, these five coins from the top-100 coins in terms of market capitalization did particularly well. The previous week report can be found here
1. DXChain +155.4%
By far the best performer this week is DXChain. DXChain is developing a platform for decentralized analysis of large amounts of data. The project uses several blockchains and a masterchain. We could not find any specific reason for the price explosion here. The chart picture makes a rather unhealthy impression with suspicion of pump & dump.
DXChain tokens are also available on KuCoin .
2. Aurora + 42.6%
Aurora, like Tezos, is a smart contract supporting blockchain platform. Aurora uses delegated proof of stake and practical Byzantine fault tolerance as a consensus mechanism. We could not find any specific reason for the sharp increase in the past week. Aurora is traded on KuCoin and some other platforms.
3. VeChain + 42.3%
VeChain narrowly missed second place this time. This is a smart contract platform that specializes in supply chains or transparent process execution for companies. The announcement of a transnational logistics and trading solution for foodstuffs together with other companies may have been responsible for the price jump. VeChain tokens are available for purchase on Binance
4. Tezos +32.4%
Tezos is well-known in the crypto scene for its extremely profitable ICO and the month-long, internal dispute that delayed the start of development. Essentially, Tezos is a blockchain platform that builds on a kind of delegated proof of stake. The price has made a significant leap by announcing that Coinbase is distributing the stake reward (approximately 5% per annum) to users who store the tokens on the stock exchange. Tezos are available on Coinbase and Binance.
5. Maker + 18.5%
The MakerDAO is the largest DeFi project on the Ethereum platform. It is the source of the decentralized US Dollar stablecoin DAI, which is created by blocking ethers and soon other tokens on a smart contract. Mechanisms create incentives that induce market participants that the deposited coins are never less valuable than the issued DAIs. One reason for the recent rise could be the positive news that besides Ethereum soon other coins can be used as a pledge on the platform. On November 18th, the update should come.
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Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.
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