Over the last few days, the crypto market has posted nothing short of remarkable returns to reward traders. This is after the market started this month with a massive decline and ended with a massive surge into green places. Although some rewards are not enough to cover the losses, it is a step in a good direction for the market. Noticeably, top coins like Bitcoin and Ethereum are not leading this charge. Tokens further below in terms of market cap have been gathering profits in the last week. In this article, we will be looking into the top five best cryptos that have performed well in the crypto market for this week.
Top 5 Best Crypto For The Week
As mentioned above, the market is better now than when it started the month, as tokens are coming back to winning ways. Surprisingly, Bitcoin (BTC) is not leading this charge. This is because the digital assets have not yet been immersed in the market spirit. Below are the top 5 best cryptos leading the market charge in terms of performance;
#1 Stepn (GMT; 247.24%)
Stepn is a fun app that provides players with the feel of gaming in the Web3 universe. Users make use of virtual sneakers to play the game. In the game, they are required to either walk, jog or run before they can earn the native token of the app, GMT. The higher the GMT tokens they have, the more they can level up. Players can also lease or sell their sneakers to other users in the game. GMT has been doing well in the crypto market in the last week, with a massive surge of 247.24%. However, the token is presently trading at $2.69, with a small surge of 0.30% in the last 24 hours. In the last 24 hours, the token has posted a trading volume of $2,330,589,652 and a market cap of $1,611,987,183. There are presently 600,000,000 GMT tokens in circulation.
#2 Ziliqa (ZIL; 79.16%)
Ziliqa is a public blockchain with the ability to carry out thousands of transactions in seconds. The blockchain does this as a result of its massive throughput. To eliminate scalability and speed issues, it uses sharing as a solution in its second layer. The platform is presently housing a lot of protocols in the DeFi sector. ZIL, its native token, has performed wonderfully in the last seven days, with the token posting a gain of 79.16%. However, it is down about 10.60% in the last 24 hours, posting a price of $0.165. Its trading volume in the same time frame is $3,453,745,450 while its market cap is $2,081,719,657. There are about 12,601,723,886 ZIL tokens in circulation.
#3 Skale Network (SKL; 66.79%)
Skale Network comes in third place with a remarkable 66.79% performance across the last week. The network was designed to help Ethereum achieve scalability due to its massive elasticity. The project ensures that latency is reduced and transaction capability increases while making transactions. This helps readers carry out trades while paying as cheap as possible for gas fees. The project intends to help developers create dApps that would solve real-world issues in a decentralized way. According to the developers, all these promises will be achieved with maximum security on the network. SKL is presently trading at $0.273 and is seeing a slight decline of 1.60% in the last 24 hours. The token is posting a trading volume of $112,490,821 and a market cap of $948,531,209 in the same time frame. Skale Network presently has about 3,473,102,671 SKL tokens in circulation.
#4 Moonbeam (GLMR; 64.32%)
Moonbeam ranks up at 64.32% for the week to take the fourth spot on this list. The crypto project is a smart contract parachain that is located on Polkadot. However, traders who want to use it on Ethereum can do so due to its compatibility. Moonbeam provides tools for developers to create apps that traders can use in a substrate environment. The native token of the network, GLMR, is presently trading at 4.58% while posting a loss of 9.62%in the last 24 hours. The token has a trading volume and market cap of $786,863,626 and $942,762,664 in the last 24 hours. The current circulating supply of GLMR is presently 206,061,843 tokens.
#5 Waves (WAVES; 58.06%)
Taking up the last spot for this week is Waves, which saw a massive climb of 58.06% in the last seven days. Waves is a decentralized platform that supports decentralized applications and smart contracts across different blockchains. It was launched in 2016, around the period that ICO was a thing in the sector. Its main function was to help increase speed and utility across different blockchains. Presently, WAVES is trading at $50.41, with a decline of 4.69% in the last 24 hours. Over the same duration, the token has posted a trading volume of $1,187,901,418 and a market cap of $5,439,259,121. There are presently 107,905,000 WAVES tokens in circulation.
Conclusion
Honorable mentions include AAVE (50.97%), SOL (37.59%), AUDIO (32.69%), SCRT (30.79%), XEC (30.69%), NEAR (28.49%). It is safe to say that the crypto market is gradually returning to the top, and tokens are reacting. However, traders need to tread with caution when choosing tokens to trade. Although some tokens are making surges now, they might not last long because they don’t have a better use case. It is advisable to research the token you want to purchase and diversify your portfolio as well.