The Bitcoin price is on an amazing drive. Many other cryptocurrencies are also performing exceptionally well. At the time of writing this, the Bitcoin price is sitting at USD 27498.64 and the BTC price has increased by almost 13% in the last 7 days.
In the last seven days, the market has exhibited a great change. Some altcoins are demonstrating good progress. Here are the top 5 performing cryptocurrencies of the week (week-22). Let’s take a look at it in more detail.
5. Synthetix Network Token (SNX) +25%
According to its website, Synthetix is a derivatives liquidity protocol on Ethereum. It allows the issuance and trading of synthetic assets. It traces the value of an external asset and it is an ERC20 token. In the last 7 days, the SNX price has increased by almost +25%, just enough for a spot on our top 5 cryptocurrencies list.
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4. DigiByte (DGB) +30.1%
According to its website, DigiByte is a Proof of Work (PoW) that can be mined with five algorithms called Sha256, Scrypt, Skein, Qubit, and Odocrypt. MultiAlgo mining supplies to decentralization, the security of the network and enables to use of hardwares such as an ASIC an FPGA, or a GPU. In the last 7 days, the SNX price has increased by almost +30.3%, just enough for a spot on our top 5 cryptocurrencies list.
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3. Celsius Network + 36.7%
Celsius is a DeFi platform for decentralized lending on Ethereum. Users can both offer and take loans. In this, borrowers pay interest to lenders and provide security to cover the loan. The general DeFi hype is probably responsible for the good performance. There have also been several updates recently from Celsius such as a new website, a new logo, and a new comprehensive software update. In the last 7 days, the CEL price has increased by almost +36.7%, just enough for a spot on our top 5 cryptocurrencies list.
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2. Theta Network (THETA) +54.3%
According to its website, Theta is a decentralized video delivery network, powered by users and an innovative new blockchain. In the last 7 days, the THETA price has increased by almost +54.3%, just enough for a spot on our top 5 cryptocurrencies list. The collaboration with Chainlink to solve click fraud w/ universally connected smart contracts could be one of the reasons behind the price rise.
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1.Zilliqa (ZIL) +71.1%
Zilliqa is a blockchain project that wants to solve the scaling problem using sharding. The validation of the transactions is divided and the Node groups validate part of the blockchain, which increases transaction throughput. A successful advertising campaign on Twitter could be responsible for the strong performance of the project. In the last 7 days, the ZIL price has increased by almost +71.1%, just enough for a spot on our top 5 cryptocurrencies list.
The above are the top 5 performing cryptocurrencies. The other two major cryptocurrencies Ethereum and Litecoin also displayed good performance in the last few days but in the last 7 days, the ETH price has decreased.
In the last 7 days, the ETH price has decreased by almost -4% and the LTC price has increased by almost 4.5%.
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