It’s safe to say that the last week of trading turned out to be quite prosperous for the overall cryptocurrency market which gained more than $25 billion through that period. Its current capitalization is around $287 billion, up around 10% in the past seven days alone.
During that period, Bitcoin also managed to increase substantially, perhaps casting away all doubts about the direction of the trend. The leading cryptocurrency gained more than $1,100, which is an increase of about 13.5%.
However, some of the altcoins also did pretty well and spiked impressively over the last week. Here, we take a look at the most profitable top 100 altcoins by market cap during the last seven days.
Chainlink is doing splendidly throughout the past week. It’s up about 58.5% and is currently sitting on a market cap of about $658 million. Over the longer term, the picture looks even better as LINK is up 67.3% in the last 14 days and 62% in the last 30.
Perhaps the most prominent event that propelled LINK’s price to where it currently is was the announcement of its partnership with Google. Immediately after it was announced, the price skyrocketed as it can be seen on the chart.
GRIN is another project which saw a serious increase throughout the past week. It’s up 35% during the period and 142% in the last two weeks. It is currently trading at around $5.39 and sits on a market cap of about $72 million.
As Cryptopotato reported earlier, one of the potential reasons for this could be the sudden announcement that Binance will be shutting its doors to US traders in September. This could have catalyzed further demand for privacy coins and as we know, Grin is mostly a privacy-oriented cryptocurrency based on the Mimblewimble blockchain.
RDD’s performance throughout the last week is rather tumultuous, to say the least. The cryptocurrency has gone through countless price swings as you can see on the chart below. Ultimately, however, it has managed to net gains upwards of 37% during the last seven days. It’s also up 32% in the last two weeks as it’s currently trading at around $0.00245 with a total market cap of $71 million.
There are no obvious events which could have propelled the surge in RDD’s price throughout the past seven days. The price, however, does seem to follow a rather similar pattern of swinging up and down.
KuCoin Shares (KCS)
KCS is up 34.5% in the last 7 days. The cryptocurrency has been increasing steadily throughout the past month, as it marks a total surge of about 65.4% in the last 30 days. It currently trades at around $1.71 and has a total market cap of $153 million.
Perhaps the most notable announcement for KCS that took place just one day ago was its support for Binance Chain and the Listing of BNB. This triggered serious community interest and even Changpeng Zhao himself outlined the benefits it would have on KCS, in general.
Zcash is a well-known and established cryptocurrency which, just as Grin, places the emphasis on privacy. It’s up about 20% on the weekly charts and it’s currently trading at around $107.58 with a total market cap of $731 million. The monthly chart looks even better as the cryptocurrency is up around 41% in the past 30 days.
Given the privacy-oriented features of ZEC, it’s perhaps reasonable to assume that Binance’s move has had some sort of an impact on it. It’s worth noting, though, that ZEC has been performing well throughout the entire month and even though it’s down 2.8% on the day, it’s still up quite a bit on the monthly charts, as mentioned above.
- Source: First Appeared Here
- Published Time: 2019-06-20 13:07:32
The views and opinions expressed in the article Those Were The 5 Altcoins With The Highest Weekly ROI (And Why) do not reflect that of 48coins, nor of its originally published source. Article does not constitute financial advice. Kindly proceed with caution and always do your own research.
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