The Bitcoin price is increasing like crazy. Many other cryptocurrencies are on a crazy drive. At the time of writing this, the Bitcoin price is sitting at USD 34165.50 and the BTC price has increased by almost 29% in the last 7 days.
In the last seven days, the market has exhibited a great change. Some altcoins are showing great progress. Here are the top 5 performing cryptocurrencies of the week (week-23). Let’s take a look at it in more detail.
5. Kusama (+43.6%)
Kusama is a network based on the Polkadot software. Kusama has witnessed strong gains over the past few weeks. In the last 7 days, the Kusama price has increased by almost +43.6%, just enough for a spot on our top 5 cryptocurrencies list. The reason behind its good performance is probably due to the hype about Polkadot.
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4. Uniswap +49.5%
Uniswap is a decentralized exchange (DEX) built on Ethereum smart contracts. The product is simple. It enables the exchange of ERC-20 coins against ETH or other ERC-20 coins while keeping full custody of the assets, i.e. custody of the assets is not given to a centralized third party. In the last 7 days, the UNI price has increased by almost +49.5%, just enough for a spot on our top 5 cryptocurrencies list.
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3. Thorchain (RUNE) +55.7%
According to its website, THORChain promotes cross-chain liquidity pools with no pegged or wrapped tokens. In the last 7 days, the RUNE price has increased by almost +55.7%, just enough for a spot on our top 5 cryptocurrencies list. The announcement of an experimental uniswap-like interface that interacts directly with THORChain could be one of the reasons behind the price rise.
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2. Celsius Network +62.8%
Celsius is a DeFi platform for decentralized lending on Ethereum. Users can both offer and take loans. In this, borrowers pay interest to lenders and provide security to cover the loan. The general DeFi hype is probably responsible for the good performance. There have also been several updates recently from Celsius such as a new website, a new logo, and a new comprehensive software update. In the last 7 days, the CEL price has increased by almost +62.8%, just enough for a spot on our top 5 cryptocurrencies list.
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One of the main goals of Polkadot is to act as a sort of decentralized center for all types of blockchains. The blockchains should be able to communicate with one another (Inter-blockchain communication/IBC). The focus is to develop the necessary technology that makes it easy to intertwine older Distributed Ledger Technologies (DLTs), current DLTs, and also future DLTs. This architecture should make scaling possible. In the last 7 days, the DOT price has increased by almost +80.3%, just enough for a spot on our top 5 cryptocurrencies list.
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The above are the top 5 performing cryptocurrencies. The other two major cryptocurrencies Ethereum and Litecoin also displayed good performance. in the last few days but in the last 7 days, the ETH price has increased by almost 30.8%
while the Litecoin price has increased by 18.4%.