With a few exceptions, the crypto market continues to decline. Bitcoin briefly dropped below $16,000, worrying investors. The last few days have exposed more financial mismanagement at FTX. As a result, it kept investors away from centralized exchanges. Crypto expert Rahul Nambiampurath examines 5 altcoin projects with surprises this week.
First altcoin project ApeCoin (APE)
ApeCoin (APE) has become one of the top earners in the last seven days, with the APE token up 16%. The altcoin is currently trading at around $2.99. There is no specific development or explanation that promotes this development. The only plausible reason for the increase in price is that the project has announced that it has no existence in FTX. Accordingly, it revealed that treasury assets are held in segregated custody accounts through Coinbase Custody.
Second project Lido DAO (LDO)
The Lido DAO (LDO) token saw a 12% price increase over the week. The probable reason behind the price increase is that Lido’s staking yield increased by 10% annually. This is an all-time high since Ethereum Merge took place. cryptocoin.comAs you know from , Lido DAO provides a liquid staking solution for the Ethereum network. Users use their Ether to secure the network where they receive a deduction from transaction fees. The LDO token is a governance token that is also used to reward events. The altcoin price is hovering around $1.10.
Third altcoin THORChain (RUNE)
The market capitalization of THORChain (RUNE) increased by over 10% to reach approximately $395.2 million. THORChain is a decentralized liquidity protocol that allows users to exchange assets between different networks. RUNE, native token for governance purposes. The altcoin is currently changing hands at around $1.13. The fact that FTX is encouraging users to switch to decentralized alternatives is probably what’s behind the growth. Meanwhile, RUNE is also expected to launch on Trust Wallet in a few days.
When you think of football, Chiliz (CHZ) comes to mind.
Chiliz (CHZ) token price increased by 10% last week to become one of the top earners. With the FIFA World Cup underway, it’s clear why CHZ is so popular right now. Based on fan tokens, the project is surviving the football frenzy that created tokens for clubs in the past. Also, the project allocates a total of 38 million CHZ to give up to $10,000 to those who have CHZ in FTX. The CHZ token is currently trading at around $0.196.
Latest altcoin project Synthetix (SNX)
The Synthetix (SNX) token is up 10% over the week. The reasons are the same as with ThorChain. The FTX incident propelled investors from centralized exchanges towards decentralized alternatives. SNX is currently trading at around $1.62. Synthetix is a decentralized derivatives liquidity protocol that supports synthetic assets, including commodities such as precious metals, cryptocurrency indices, fiat currencies, and other assets. The SNX token is used as collateral to create these synthetic assets.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. Therefore, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.