The cryptocurrency market is going steep. The major cryptocurrency Bitcoin has increased by over 40% this year alone. The last week was particularly important. The BTC has crossed a psychologically important $10,000 mark. Other cryptocurrencies are also gaining and are showing tremendous improvement.
This week, these are the top 5 cryptocurrencies that performed very well. They were able to grow by 69% on average. Much of the price gains are likely due to the generally positive sentiment in the crypto space.
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5. ICON + 60%
The Icon is a project from South Korea. It allows creating a network that connects blockchains. Among other things, the network also supports smart contracts and thus offers extensive functionalities.
According to the ICONTV YouTube channel, new partnerships and an increase in appearances in national news are causing prices to rise. Also, ICON is now tradable on the largest crypto exchange via the stablecoin tether for US dollars.
4. Hedera hashgraph +61%
Hedera Hashgraph is not based on blockchain, but a new type of database structure. The so-called Gossip protocol (gossip, gossip) is intended to form the consensus. Every node that sends a message,sends it from whom it was received. It turned out that the consensus mechanism cannot work alone. That’s why it was expanded with a kind of proof of stake.
A council of companies votes on certain things. The HBAR token suffered severe losses after the ICO. This week, however, the token displayed strength. The reason for this is probably a reset after the huge losses. Hedera Hashgraph has strong marketing and is listed on the largest stock exchanges. Even the most critical analysts did not expect the project to crash so much.
3. Decentraland +73%
Decentraland is a “virtual reality” similar to Second Life. In the virtual world you can buy land and build or trade objects such as houses, companies etc. The token used to pay is called MANA. This and the ownership structure in Decentraland are stored on the Ethereum blockchain.
The news of the several new implementations, fixes could be the reasons behind the price increase. The approaching of the start date of the official launch (February 20, 2020) is also responsible to put investors in FOMO.
2. Blockstack +74 %
Blockstack wants to create a new kind of decentralized Internet where users own their data and applications run locally. The only thing users need is a browser.
The announcement of a new mining algorithm for blockchains could be responsible for the price increase. Proof of transfer or PoX will be used to make it possible to build a user-owned Internet (Web 3.0) on Bitcoin.
1. Lisk + 79%
The German project Lisk is one of the cryptocurrencies based on a delegated proof of stake. Sidechains are a cornerstone. So far there have been delays. For example, the Madana project started its PAX token on Ethereum, even though it was intended for a Lisk Sidechain. There is now a new LSK / USDT trading pair on Binance. Lisk is thus directly tradable in US dollars on the largest stock exchange.
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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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