These Were the 5 Altcoins With the Highest Weekly ROI (And Why)

It’s safe to say that the last week of trading proved to be quite prosperous for the overall cryptocurrency market, which gained more than $25 billion throughout the period. Its current capitalization is around $287 billion, up around 10% in the last seven days alone.

During that period, Bitcoin’s price 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, spiking 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 (LINK)

Chainlink has done 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.

LINK/USD. Source: CoinGecko

Perhaps the most prominent event that propelled LINK’s price to its current heights was the announcement of its partnership with Google. Immediately after it was announced, the price skyrocketed, as can be seen on the above chart.

Grin (GRIN)

GRIN/USD. Source: CoinGecko

GRIN is another project which saw a serious increase throughout the past week. It’s up 35% over the period and 142% in the last two weeks. It is currently trading at around $5.39 and boasts a market cap of about $72 million.

As CryptoPotato reported earlier, one of the potential reasons for this could be the recent 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 protocol.

Reddcoin (RDD)

RDD/USD. Source: CoinGecko

RDD’s performance throughout the last week has been rather tumultuous, to say the least. The cryptocurrency underwent countless price swings, as you can see on the chart above. Overall, however, it has managed to gain 37% during the last seven days. It’s also up by 32% in the last two weeks, and it’s currently trading 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% over the last seven days. The cryptocurrency’s price has been increasing steadily throughout the past month, surging by approximately 65.4% in the last 30 days. It’s currently trading around $1.71 and has a total market cap of $153 million.

KCS/USD. Source: CoinGecko

Perhaps the most notable announcement affecting KCS that took place just one day ago was KuCoin’s 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 for KCS.

Zcash (ZEC)

Zcash is a well-known and established cryptocurrency which, just like Grin, places its emphasis on privacy. It’s up approximately 20% on the week, trading 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.

ZEC/USD. Source: CoinGecko

Given the privacy-oriented features of ZEC, it’s perhaps reasonable to assume that Binance’s move has had some sort of an impact. 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 month, as mentioned above.

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