Altcoin Watch: Top 3 Tokens with Poor Performance over the Past Week

Many things reshaped the dynamics of the digital currency ecosystem over the past week, with the most significant being the resignation of Liz Truss, the Prime Minister of the United Kingdom.


While the stock market in the UK showed positive growth over the news, the crypto market was left in a state of uncertainty, and this showed in the performance of some altcoins in the week-to-date period.

In this week’s Altcoin Watch edition, we present three of the worst-performing tokens, giving investors a compass to guide their observation of trends in the crypto ecosystem this week.

Axie Infinity (AXS)

Axie Infinity is a top digital token in the Play-2-Earn (P2E) ecosystem, and its partially owned and operated by its players. The coin has seen its worst days this year and is currently changing hands at $8.92, down from its 52-week high of $165.37 per data from CoinMarketCap.

Axie Infinity is among the worst-performing tokens of the top 100 coins, and while the industry considers gaming as the future of the ecosystem, the chances AXS will recoup and retest its best price remains bleak in short to mid-term.

Ethereum Name Service (ENS)

Ethereum Name Service is a distributed, open, and extensible naming system based on the Ethereum blockchain. The protocol has continued to carve a niche for itself in the broader ecosystem as one of the industry’s most popular name service providers.

However, investors have not favoured the digital currency over the past week, with its price of $16.70, trading down by 15.51% over the past week. With a mild rejuvenation sweeping through the market, ENS can pare off some of these losses, but traders will need to exercise caution per its freefall.

Waves (WAVES)

Waves is a multi-purpose blockchain platform that supports various use cases, including decentralized applications (DApps) and smart contracts. While Waves is known as one of the highest-performing coins over the past few months in relative terms, it was trading down 9.66% at $3.19 during the intrday.

The coin has high volatility and a good propensity to recover its gains, but like other profiled altcoins, caution should be exercised when dealing with the coin.

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Top 3 Biggest Gainers Amid Crypto Market Recovery

With a growth of 1.30%, the combined crypto market capitalization has grown remarkably over the past weekend, considering the consistent onslaught the market has been experiencing across the board. (47).jpg

With recovery currently underway, here are the top 3 altcoins charting a more bullish upside in the market as the new week comes into view.

Cardano (ADA)

Cardano is one of the most renowned blockchain protocols around today with a goal of becoming the dominant smart contracts platform. Spearheaded by Charles Hoskinson, the founder of IOHK, ADA is currently changing hands at $0.5765. While this price figure is 81.48% below the coin’s All-Time High (ATH) price of $3.10, it is notably up by 22.06% in the past week at the time of writing according to CoinMarketCap’s data.

The growth in Cardano might have been triggered by the positive sentiments gleaned from CoinShares data that shows institutional money is gradually moving from Bitcoin (BTC) and Ethereum (ETH), into Cardano.

Helium (HNT)

Helium (HNT) is designed as a decentralized blockchain-powered network for Internet of Things (IoT) devices. The Helium protocol operates via a bespoke consensus mechanism called proof-of-coverage (PoC) which rewards users for contributing to mining (validating transactions) and ensuring stability.

HNT is amongst the high fliers altcoins in the Week-to-Date period and is up 27.69% to $9.30 per CoinMarketCap’s data. With the positive sentiments around HNT growing in recent times, chances are that it can beat its major resistance level of around $15 in the near future.

Waves (WAVES)

Despite underperforming at the time of writing, the 2.45% loss in the past 24 hours comes off as a slight correction WAVES will be experiencing as it has been on a tear over the past week, rising 95.82% within that time frame.

Waves has carved a niche for itself as a multi-purpose blockchain platform that supports various use cases including decentralized applications (DApps) and smart contracts. At a current price of $8.49, WAVES can outpace its peers should the bulls keep up with the accumulation spree.

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Best Gainers and Top Losers for the Week: XMR, MINA, AXS, WAVES

Another business week just starts on Monday. Printing a good gain in the digital currency ecosystem now takes more than just a slight swing or an impressive bullish close for the day. It takes massive resilience on the path of the coin and a sustained buying momentum spanning days.


Despite the growth in the broader crypto ecosystem, there is a high level of volatility that investors are typically cautious of. Over the past week, it has favoured a few coins and stirred a massive sellsell-offngst others.

At the time of writing, the global cryptocurrency market capitalization is pegged at exactly $2, up 1.58% in the past 24 hours. Here are the best and poor performers in the past week.

Best Gainers: XMR and MINA

Monero (XMR) is one of the best gainers for the week, changing hands at $243.09, up 2.88% in the past 24 hours, and has risen by over 13% in the week-to-date period. Monero is a privacy coin whose value has been called into question in recent times by regulators worldwide as transactions are generally untraceable.

It is yet unknown what spiked the growth in Monero in the past week. However, with growing sanctions in Russia per the ongoing war with Ukraine, Russians are likely taking to Monero coin to conduct some of their transactions.

Mina (MINA) coin also printed a growth of 15.47% growth to print a price tag of $3.12. While the coin has pared off some of its gains at the time of writing, its bullish momentum is billed to imprint a notable resilience from the temporary sellsell-offt may be introduced in the short.

Top Losers: AXS and WAVES

The bears dominated the market relatively more in the trailing 7-day period with Axie Infinity (AXS) and Waves (WAVES) amongst the coins that bore the brunts more. While AXS slipped 22.81% to $50.96, WAVES dropped 49.78% to $24.84. 

Both coins are notably paring off their losses as well as they have a relatively impressive outlook per the daily gain trail. The receipt of bailout funds from Binance Exchange and others is poised to help cushion the effects of the hack the Ronin Bridge of Axie Infinity experienced barely 2 weeks ago. 

In all, the digital currency ecosystem is opening up to a new week that is poised to be filled with a lot of intriguing price trends.

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Top 3 Altcoins With the Biggest Gains for the Week: LUNA, ANC & WAVES

The past week has been a very challenging one for the global digital currency ecosystem as a number of bearish moves were experienced in the wake of the invasion of Ukraine by Russian forces. As expected, the geopolitical tension stirred a very massive selloff in the broader financial ecosystem with cryptocurrencies, led by Bitcoin (BTC) responding in tandem.


While the global crypto market capitalization plunged to a low of $1.57 trillion, a number of altcoins maintained an impressive growth outlook over the trailing 7-days period. This article is a review of the top highest earners for the week.

Terra (LUNA)

Terra is one of the most elite of altcoins that has soared by more than 51% in the past week. The network’s native token, LUNA, was changing hands at $74.83, rising from a low of $48.59 in the week, following the unprecedented Russia-induced market meltdown.

With Terra’s prowess hinged on its unique capabilities as a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems, its innovative products and services are bound to see additional growth in the coming week. Much observation has to be placed on Terra to see how well investors will push the coin’s price in the advent of a broad market resurgence.

Anchor Protocol (ANC)

Anchor Protocol is a lending and borrowing protocol on the Terra blockchain and the 29th project on Binance Launchpool. The protocol is the biggest decentralized finance protocol on the Terra Blockchain. It has risen to prominence amongst its competitors as it gives a low volatility interest rate of up to 19%.

Anchor Protocol is arguably the biggest gainer amongst the top 100 digital currencies, with a gain of 72.10% in the past 24 hours at the time of writing. While the token was trading at $3.77, Anchor Protocol has a lot of potentials to grow some more in the coming weeks as investors consider savings in the network one of the best options available amidst the uncertainties rocking global financial markets.

Waves (WAVES)

Unlike other profiled altcoins, WAVES resisted the plunge in the digital currency ecosystem in the past week and has been printing a bullish uptrend since February 24, undeterred by the sentimental selloffs the Russian invasion spiked.

Changing hands at $11.93, WAVES has recorded a 22.79% growth in the past week as it has pared off some of its gains. However, WAVES remains one of the altcoins to watch despite the coin begging for immediate correction.

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5 cryptocurrency projects that made waves in 2021

2021 was a breakout year for the cryptocurrency market in many respects and most investors are absolutely thrilled that Bitcoin (BTC) price established a new all-time high of $68,789. In the same timeframe, Ether (ETH) went on a parabolic rally which saw its price gain 565% from Jan. 1 to hit a record high at $4,859 on Nov. 10.

While it was a banner year for large cap cryptocurrencies, some of the biggest gains and most impactful developments came from the altcoin market where decentralized finance (DeFi) and nonfungible tokens (NFTs) rallied by thousands of percent and helped to usher in a new level of awareness and adoption for blockchain technology and cryptocurrencies.

Here’s a look at five altcoin projects that made significant contributions to the cryptocurrency ecosystem in 2021.


The decentralized exchange Uniswap (UNI) has arguably had the greatest impact on the crypto ecosystem as a whole since launching in the summer of 2020, with the DEX seeing significant growth throughout 2021 as it helped facilitate the launch of thousands of new crypto projects by removing the barriers to launch that existed on centralized exchanges.

Data provided by Dune Analytics shows that Uniswap has been the dominant DEX throughout the year and it has consistently seen more trading volume than all other DEXs combined.

Monthly DEX volume by project. Source: Dune Analytics

As seen on the chart above, the volume traded on decentralized exchanges really started to ramp up in the second half of 2021 led in large part by activity on Uniswap.

Throughout 2021 Uniswap led the field in development as well, with the developers behind the protocol announcing the release of Uniswap v3 in March. The v3 upgrade included multiple protocol upgrades and it built the foundation to integrate layer-two scaling solutions like Optimism and Arbitrum with Uniswap as a way to help reduce the transaction costs and processing times for users.


Aave (AAVE) is a DeFi lending protocol that allows users to deposit their tokens and lend them out as a way to earn a yield or pledge them as collateral in order to borrow another asset.

As the DeFi sector started to gain traction in early 2021, AAVE emerged as a community favorite thanks to the wide swath of crypto assets supported and the backing from some well-funded players.

Over the course of the year, AAVE expanded its capabilities and reach with the release of AAVE v2 which added support for Polygon, a layer-two scaling solution, and Avalanche, which is a popular cross-chain blockchain network.

Total liquidity on the AAVE protocol. Source: Aave

As a result of these added capabilities, the total liquidity available on the AAVE protocol has surpassed $25.7 billion, making AAVE the top-ranked DeFi protocol by total value locked (TVL).


Curve Finance is a stablecoin-focused protocol that utilizes an automated market maker to manage liquidity on the platform and across the DeFi ecosystem.

Stablecoins have emerged as a foundational piece for the cryptocurrency community as a whole in 2021 because they provide sufficient liquidity for the market and a safe haven for traders seeking shelter during periods of high volatility. 

The growing importance that stablecoins have benefited Curve protocol and its native CRV by accelerating its integration of stablecoins into many of the top DeFi protocols, including the Yearn.Finance ecosystem and Convex Finance.

Despite the fact that a significant portion of the assets locked on the Curve protocol are stablecoins, the platform now ranks as the second leading protocol in terms of TVL behind AAVE, with data from Defi Llama showing that $21.77 billion in value is now locked in Curve vaults.

Total value locked on Curve. Source: Defi Llama

Curve has also integrated with many of the most active blockchain networks, including Ethereum, Avalanche, Harmony, xDAI, Polygon, Arbitrum and Fantom, which is further evidence of the protocol’s quest to be the stablecoin liquidity provider for the entire crypto market.

Related: US Financial Stability Oversight Council identifies stablecoins and cryptos as threats to financial system

Axie Infinity

Axie Infinity is a play-to-earn (p2e) trading and battling game that allows participants to collect, breed, raise, battle and trade NFT-based creatures called Axies.

The p2e model emerged as a new fan favorite over the course of 2021 because it provides users with the ability to earn a daily income alongside their gameplay, which offers a few unique advantages when compared to the traditional pay-to-play model.

Alongside the rise in popularity of Axie Infinity came a new all-time high for the platform’s native AXS token. As the token stormed to new highs, the platform generated a daily revenue of $17.55 million at its height on August 6.

Axie Infinity price vs. total revenue. Source: Token Terminal

Axie Infinity was also one of the earliest projects to establish the trend of migrating away from the Ethereum network because of high fees and slow transactions. Earlier in the year the project migrated to the Ronin sidechain and in November the project launched its own DEX called Katana.


Dogecoin is an open-source proof of work cryptocurrency that leads the field of “meme” coins that made headlines all throughout 2021.

While the project has few contributions on the technological or development front, frequent shilling from the likes of Tesla CEO Elon Musk and Shark Tank star Mark Cuban helped to push Doge into a 23,746% rally that saw the price rise fr from $0.0031 on Jan. 1 to an all-time high of $0.74 on May 8.

DOGE/USDT 1-day chart. Source: TradingView

On top of the gains seen in DOGE price, the token received increased attention after it was announced that it would be used to help fund the launch of a lunar satellite by SpaceX and the Dogecoin movement also kicked off a meme-coin rally and spawned a bevy of copy-dog projects li Shiba Inu (SHIB) and Dogelon Mars (ELON).

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.