Cryptocurrencies had a bad year in 2022. As a result, now is an excellent time to invest. The first week of 2023 just finished and this article will discuss the top five cryptocurrencies of the week, which performed well despite the bear market. Let’s go over it in more detail.
5. Top 5 Cryptocurrencies: Frax Share (FXS) +24.14%
An interesting shift which is easier to spot when split by pool type is that @fraxfinance and FraxBP have significantly altered the Curve War landscape. It starts with FRAX-USDC in round 20 and then FRAXBP takes off starting round 24. 5/7 pic.twitter.com/doh9aeS8n3— Llanero (@iamllanero) December 16, 2022
Frax, according to its website, is a permissionless and open-source fractional-algorithmic stablecoin protocol. It is also an Ethereum-based platform to transform and improve the industry. This system’s initial goal is to provide decentralization, scalability, and quick transaction payment. FXS price has risen by nearly +24.14% in the last seven days, putting it on our list of the top cryptocurrencies.
4. Top 5 Cryptocurrencies: NEAR Protocol (NEAR) +25.14%
The Near Protocol (NEAR) is an easy-to-use and scalable blockchain protocol. It is a layer 1 blockchain that conducts business in a CO2-neutral sort of way. NEAR is a community-driven cloud-based computing platform that aims to fix the limitations of other blockchains, such as slow transaction speeds and a lack of interoperability. NEAR price has risen by nearly +25.14% in the last seven days, putting it on our list of the top cryptocurrencies.
3. Top 5 Cryptocurrencies: Ethereum Classic (ETC) +26.48%
Proof of work enables consensus by merit, free choice, and adoption, not by voting.— Ethereum Classic (@eth_classic) December 12, 2022
Proof of Work is Not Voting:https://t.co/C0DEeih70l#ETC☘️ #EthereumClassic☘️ $ETC
As the name implies, the Ethereum classic arose as a result of disagreements among developers about how the Ethereum blockchain operated at the time. These programmers used Ethereum to create “The DAO,” a venture capital fund (Decentralized Autonomous Organization). This VC raised $100 million by allowing individuals to contribute ETH and guaranteeing them profit sharing as a return on investment. In addition to returns, investors have the authority to decide how to allocate assets. ETC price has risen by nearly +26.48% in the last seven days, putting it on our list of the top cryptocurrencies.
2. Top 5 Cryptocurrencies: Solana (SOL) +35.95%
A blockchain platform that is decentralized Solana plans to provide decentralized apps (dApps) and smart contracts on a rapid, secure, and scalable infrastructure. It was designed to process thousands of transactions per second at a low cost, making it ideal for high-throughput applications such as decentralized exchanges, gambling, and prediction markets. The proof-of-stake (PoS) consensus mechanism secures Solana’s network, allowing network users (also known as “validators”) to receive money for validating transactions and adding them to the blockchain. SOL price has risen by nearly +35.95% in the last seven days, putting it on our list of the top cryptocurrencies.
1. Top 5 Cryptocurrencies: Lido DAO (LDO) +53.44%
Lido is a protocol that aims to provide users with the ability to stake on multiple blockchains. Many people are unfamiliar with the advantages of staking their assets because staking is still a novel phenomenon in the digital asset area. Blockchain conditions allow investors to make money in a wide range of different manners, one of which is by staking your asset over time. Lido intends to establish the staking economic system, according to the protocol’s official web page. While it is still a new protocol, it has the possibility of altering how easily users can stake it. The additional benefit of using Lido is that you keep receiving rewards on your staked tokens, and you can stake as much as you would like. LDO price has risen by nearly +53.44% in the last seven days, putting it on our list of the top cryptocurrencies.
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