If we just closely observe the cryptocurrency market then we will find that everyone seems to have their own ideas of how one should swim in the cryptocurrency world. Sometimes it is really difficult to understand what’s going on. Once again, from the last few days, the market is displaying strange behavior. Big coins like Bitcoin and Ethereum are displaying lazy behaviour. Still, some altcoins are showing promising growth. Here are the top 5 performing cryptocurrencies of the week (week-5). Let’s take a look at it in more detail.
5. Ampleforth AMPL (+97%)
According to its website, Ampleforth describes itself as smart commodity money. It is chain-agnostic and the AMPL digital currency balances the daily supply based on market conditions. In the last 7 days, the Ampleforth (AMPL) price has increased by almost +97%, just enough for a spot on our top 5 cryptocurrencies list.
>> Click here to buy AMPL <<
4. UMA (+115.8%)
A total of $16,000 will be given away in the coming weeks for those who run liquidator bots on the UMA protocol.https://t.co/a0PkVaaVMM
— UMA (@UMAprotocol) August 28, 2020
According to its website, UMA describes itself as a protocol for building synthetic assets and writes self-enforcing smart contracts with economic guarantees. It is created to strength the business innovations made possible by permissionless, public blockchains, like Ethereum. In the last 7 days, the UMA(UMA) price has increased by almost +115.8%, just enough for a spot on our top 5 cryptocurrencies list. The UMA’s liquidation opportunity program could be one of the reasons behind its price rise.
>> Click here to buy UMA <<
3. yearn.finance YFI (+119.7%)
Yearn.Finance has been one of the most mysterious and most critical projects. It was at the second spot in our previous week’s top 5 performing cryptocurrencies list. This week too, the YFI is displaying tremendous progress. The DeFi coin has seen a ludicrous price wave from “0 financial value” as per the developers, to a high of $30,957. In the last 7 days, the YFI price has increased by almost +119.7%, just enough for a spot in our top 5 cryptocurrencies list. The idea behind yearn.finance is, users, stake their funds in return of both yield and YFI coins.
>> Click here to buy YFI <<
2. bZx Protocol BZRX (+142%)
According to its website, the bZx protocol is a decentralized protocol that allows lending and borrowing for margin trading. It can also be combined with the new and current exchanges, or obtained through the native bZx portal. In the last 7 days, the BZRX price has increased by almost +142%, just enough for a spot in our top 5 cryptocurrencies list. The news of Binance listing BZRX could be one of the reasons behind this price growth.
>> Click here to buy BZRX <<
1. DFI.money YFII (+422.6%)
YFII – Innovative decentralized #defi mining pool
Start time: 16:00 July 26 (UTC)
Project Type: yield farming
Total circulation: 60,000, of which 30,000 in the first week, halved weekly
A fork of YFI project with YIP-8 implementhttps://t.co/0ovKhJgQcU
— steamer.eth (@BlockExpl0it) July 26, 2020
YFII is a fork of the YFI. It gives a separate token distribution paradigm where token discharges are halved every week (YIP-8). This business idea promotes active cooperation in the mining of $YFII whilst enabling late-comers to still receive rewards. In the last 7 days, the YFII price has increased by almost +422%, just enough for a spot in our top 5 cryptocurrencies list.
>> Click here to buy YFII <<
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Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.
Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future.