The yellow price of Bitcoin and some altcoins saw a sharp sell-off this week. Bitcoin, Ethereum, Cardano, Binance Coin, XRP, and meme-based coin Dogecoin have all dropped by 10 percent over the past week. These coins have lost about 5 percent on a cyclical scale over the past 24 hours. So, which altcoin projects gained value in this process? Cryptocoin. com
As , we examine those who are in the top 100 according to market value and have the highest increase in one day…
The most rising altcoin was Quant (QNT): ATH did
Launched in June 2018 with the aim of interconnecting networks on a global scale, and the first project to solve the interoperability problem via blockchain, Quant’s QNT token experienced a 26.46 percent increase. Quant recently released Overledger 2.0 and 0.5, thus bridging the ecosystem with stablecoins, DeFi, NFTs, and assets with the popular ERC20-ERC721 token standard. The network’s token, QNT, has reached its all-time high (ATH) at $425.
Terra (LUNA) ranks second among those that gained the most value. Terra, a network aimed at powering global payment systems, and Terraform Labs (TFL), the team behind Terra, recently announced the launch of Blockchain’s new funding initiative called Project Dawn. The $150 million fund is expected to support “critical infrastructure improvements” and further advance cross-blockchain communications. The network’s token, LUNA, rose to $44.34 on the nightly saadollar series, making ATH. At the time of writing, it is trading at $40.05 and has gained 26.12 percent.
Elrond (EGLD) gains on this week’s developments
Another coin that rose the most was Elrond (EGLD). There have been many developments in the Elrond ecosystem this week. With their new partnership, Elrond Network and Cudos are set to empower their customers with a two-layer interoperability mechanism. On the other hand, it became directly accessible to customers in the USA by integrating with MoonPay. EGLD gained 18.20 percent.
On the other hand, Avalanche (AVAX) experienced a 16 percent rise. Ecosystem announced its integration with ParaSwap. It has been announced that Binance has integrated Avalanche’s C-Chain. Users will have direct access to Avalanche’s DeFi applications, with a total value of more than $2.5 billion in kilidollarsi, via Binance. Avalanche has also seen a significant increase in protocol activity following the launch of the Avalanche Rush DeFi Incentive Program on August 18, which allocates $180 million to DeFi protocols and liquidity to the Avalanche ecosystem.
Other coins that gained value: Raydium (RAY) and Hedera Hashraph (HBAR)
Fifth, it was Raydium (RAY) that experienced the most gains. Raydium is an automated market maker and liquidity provider built on the Solana Blockchain for the decentralized exchange Serum. The ecosystem’s RAY token has experienced an increase of 8.83 percent. Finally, Hedera Hashgraph (HBAR), which allows individuals and businesses to build powerful dApps, rose 8.46 percent.