A bitter week for most cryptocurrencies is coming to an end. The Bitcoin price declined by around 14%. Most altcoins have been hit harder. For the first time since the top 5 existed, a coin with losses came in at 5th place. There are only 4 projects that were up last week. Here is the list of top 5 cryptocurrencies of the last week.
5. Augur -0.3%
With only 0.3% losses last week, Augur ranks 5th. Augur is a decentralized predictive market on Ethereum. Users can make bets and participate.
The result of an external review of the code, which was published 2 days ago, could be responsible for the relatively strong performance. Many vulnerabilities were found, but these can now be patched. A possible buy signal for the long-term investor.
4. LEO token + 0.6%
The LEO Token is a stock token of the Bitfinex crypto exchange. It was issued last year to fill the financial hole that caused the freeze of around $850 million in the capital at financial services provider Cryptocapital. Immediately after the incident, Bitfinex borrowed money from the sister company Tether to pay off the customers. The news that Bitfinex has repaid $100 million to Tether could have made the week’s relatively strong growth.
3. Huobi Token + 2%
The Huobi Token is also an exchange token. As the name suggests, it belongs to the Singapore-based Huobi exchange. The token was launched in 2018. Exchange tokens are generally more stable than the rest of the cryptocurrencies. The announcement of the launch of the Huobichain test network could be responsible for the relatively good performance.
2.Power ledger +21%
Power Ledger is a project from Australia, which is based on the Ethereum Blockchain. The company wants to decentralize and simplify energy trading.
The news that the company plans to expand in India could be responsible for the strong performance this week.
1. Kyber Network +39%
Last week Kyber Network displayed a good performance.Kyber Network now is in first place. Overall, the token price has increased by over 60% in the last two weeks.
Kyber Network is an interblockchain protocol that supports instant token swaps. The protocol can be integrated into any application and allows easy development of financial apps. Last week’s momentum could still have contributed to the strong price development this week, despite a sharp drop in most other cryptocurrencies. This could have triggered the listing on Coinbase Pro on February 24.