The last week was turbulent for the crypto market. There was a sharp rise in prices on Tuesday, followed by the nasty shock on Wednesday. Since then, the market has been going more or less sideways. These are the top 5 cryptocurrencies that performed well.
5. FTX token + 4.5%
FTX is a trading platform for derivatives on cryptocurrencies. Over the past few months, the exchange has been able to increase its trading volume continuously. February was a record month with over 50% growth over the previous month. This should have convinced investors. The in-house FTT token was able to record a plus growth despite a generally weak market.
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4.Aion + 5.1%
Aion is the token of the Open Application Network (OAN). OAN is an open-source project that hosts open apps. Open apps are applications that are controlled and managed by users. OAN is operated across platforms.
The reason behind such a price hike this week could be that Binance has launched the USDT / AION and BUSD / AION trading pairs on the stock exchange. In our last Top 5 of the Week article, you can see that all cryptocurrencies that have received trading pairs with the world currency on Binance have increased in price.
3.Algorand + 22%
Algorand is a blockchain project by the award-winning Italian mathematician Silvio Micali. It is proof of stake platform that supports smart contracts. For the surge this week, the announcement of winning a developer competition could be the reason. Riley Ge has developed a dotnet-algorand-sdk. This supports other developers in programming programs for Algorand.
2. Kyber Network + 25%
Kyber Network is an inter blockchain protocol that supports instant token swaps. The protocol can be integrated into any application and allows easy development of financial apps.
On February 19, Coinbase Pro announced that from February 24, the Kypber Network Token (KNC) will be traded on the platform. This news may have increased the token to # 2 on our top 5 this week.
1. DXChain +41%
DXChain is a platform for the decentralized evaluation of large amounts of data. Several sidechains are connected to one masterchain.
The reason for the increase could be the mention in a report, which deals with the most promising investments in cryptocurrencies for 2020.
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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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