Cryptocurrencies are currently facing a downtrend, with Bitcoin failing to breach the crucial resistance price of $30,000 and starting to retrace lower. As a result, most altcoins have also followed suit, with their prices falling in tandem. However, a few altcoins have managed to buck this trend and have shown positive gains over the past seven days. In this article, we mention the top 3 altcoins outperforming Bitcoin during this crypto crash.
PS. there is a lot of newly surfaced cryptocurrencies that make over 1,000% because their market cap is so small and can be easily manipulated. In this article, we focus on the ones that have market caps higher than $500 million.
How did Bitcoin Perform recently?
Bitcoin started the week hovering around 29K, and despite several attempts, prices failed to breach the crucial 30K price mark for the fourth time in recent months. Although Bitcoin did manage to produce a fakeout above 30K that lasted three days, the price later retraced lower. As a result, Bitcoin is currently down by 7%, and the entire crypto market has also taken a hit, down by 5%. Nevertheless, Bitcoin’s dominance in the crypto market remains significant, currently sitting at around 46%. These recent market fluctuations highlight the volatility of cryptocurrencies and the importance of conducting thorough research before investing.
Top 3 Altcoins Outperforming Bitcoin
#3 Unus Sed Leo (LEO) +2.4 %
Unus Sed Leo is a cryptocurrency, also known as LEO, that was launched in May 2019 by the Bitfinex exchange. The name “Unus Sed Leo” is Latin for “One but a Lion” and is meant to symbolize strength, power, and unity. LEO is an ERC-20 token, which means it is built on the Ethereum blockchain. Its primary purpose is to provide a utility token for traders and investors on Bitfinex, with benefits such as reduced trading fees, access to exclusive trading products, and improved withdrawal and deposit limits.
#2 Bitcoin SV (BSV) + 10.9 %
Bitcoin SV (Satoshi Vision) is a cryptocurrency that was created in November 2018 as a result of a hard fork from the original Bitcoin Cash blockchain. Bitcoin SV aims to restore the original vision of Bitcoin, as described by its creator, Satoshi Nakamoto, by increasing the block size limit from 32MB to 128MB and returning to the original Bitcoin protocol. This allows for faster transaction times and lower fees, making it more practical for everyday use. Bitcoin SV also aims to enable businesses and developers to build decentralized applications (dApps) on top of the blockchain and provide a stable platform for enterprise use. Despite controversy surrounding its founder, Craig Wright, Bitcoin SV has gained a following among some members of the crypto community.
#1 Kava (KAVA) + 36.9 %
Kava is a decentralized finance (DeFi) platform that is built on the Cosmos blockchain. The platform aims to provide users with a wide range of financial services, including lending, borrowing, and trading, all in a decentralized manner. Kava uses a dual-token system, with the KAVA token serving as the platform’s native token, and the USDX stablecoin being used for lending and borrowing activities. Kava’s lending and borrowing services enable users to earn interest on their cryptocurrency holdings, while its trading platform offers access to various cryptocurrencies and tokens. Kava is designed to be highly scalable and interoperable, allowing for seamless integration with other blockchain networks. The project has gained significant attention within the crypto community and has partnerships with prominent industry players such as Binance, Huobi, and Chainlink.
