The crypto market went back to its bearish price movement as soon as the Merge was completed. The crypto market was squeezing before the Ethereum merge but began to crash soon after the transformation. Yet, some coins displayed good performance. This article is all about the top 5 Cryptocurrencies that performed well in the last seven days. Let’s take a look at it in more detail.
5) Top 5 Cryptocurrencies: Compound (COMP) +13.12%
In September of 2018, @compoundfinance launched its algorithmic and autonomous money market protocol on #Ethereum.— CoinMarketCap (@CoinMarketCap) September 6, 2022
What made Compound stand out was the introduction of its peer-to-contract design and dynamic borrowing interest rates.
Compound operates on Ethereum which allows users to lend and borrow cryptocurrency. It also permits users to have a privilege in its governance with its COMP token. The COMP cryptocurrency is the governance token of the protocol. The predefined number is transmitted to all lenders and borrowers on the Compound protocol regularly. The issuance of COMP happens every 15 seconds when an Ethereum block is mined. In the last 7 days, the COMP price has increased by almost +13.12%, just enough for a spot on our top cryptocurrencies list.
4) Top 5 Cryptocurrencies: Chiliz (CHZ) +18.47%
Chiliz (CHZ) is a cryptocurrency developed exclusively for sports and entertainment enthusiasts. Chiliz is a project of Mediarex Group, a multinational sports, and entertainment establishment established in Malta. Football teams Juventus, Paris Saint-Germain, Atlético de Madrid, Galatasaray, A.S. Roma, West Ham, Independiente, and Dota 2 E-sports champions OG are among Chiliz’s important customers. Binance, OK Blockchain Capital, and Ceyuan Ventures jointly contributed over $60 million to the business. In the last 7 days, the CHZ price has increased by almost +18.47%, just enough for a spot on our top cryptocurrencies list.
3) Top 5 Cryptocurrencies: Algorand (ALGO) +25.47%
State Proofs are now live! This technology enables the construction of decentralized bridges, allows nodes to join our consensus process without having to trust any “initializing” information, and makes @Algorand quantum-safe, all while prioritizing decentralization. GO ALGORAND!— Silvio Micali (@silviomicali) September 21, 2022
According to its website, Algorand is an evolved cryptocurrency that works in the tradition of networks like Ethereum, Cardano, and Solana. It calls itself the most decentralized, scalable, and safe blockchain. The Algorand Foundation behind the project has designated itself with the task of fixing the so-called blockchain trilemma. Algorand strives to harmonize the elements of security, decentralization, and scalability. In the last 7 days, the ALGO price has increased by almost +25.47%, just enough for a spot on our top cryptocurrencies list.
2) Top 5 Cryptocurrencies: Reserve Rights (RSR) +30.23%
Getting ready to go to market. pic.twitter.com/TymnfFSBVT— Reserve (@reserveprotocol) September 11, 2022
The Reserve Rights (RSR) token has various purposes, but the main one is to deliver a mechanism to maintain the dollar value of the RSV stablecoin. The Reserve protocol was designed to scale supply based on demand, thus preserving all the collateral on the blockchain. In addition, it was also created to deliver security and act as an option to the centralized currencies presently in use. Thus, cryptocurrencies handled by smart contracts are utilized to maintain their value. In the last 7 days, the RSR price has increased by almost +30.23%, just enough for a spot on our top cryptocurrencies list.
1) Top 5 Cryptocurrencies: XRP (XRP) +31.62%
XRP is the digital asset on the XRP ledger, which delivers on-demand liquidity for economic service providers. It also serves as a bridge coin to enable cross-border transactions. XRP’s transaction fees are on average $0.0002, which is super affordable. With XRP, payment providers can achieve smaller markets, enjoy more immediate payment settlements, and decrease foreign exchange expenses. In the last 7 days, the XRP price has increased by almost +31.62%, just enough for a spot on our top cryptocurrencies list.
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