The cryptocurrency market is flying. The major cryptocurrencies like Bitcoin, Ethereum, and Ripple are displaying great performance but some of the altcoins are also displaying crazy progress. Here are the top 5 performing cryptocurrencies of the week (week-15). Let’s take a look at it in more detail.
5. Solana (SOL) +31.4%
According to its website, Solana is a single-chain, delegated-Proof-of-Stake contract. Its aim is on scalability without losing decentralization or safety. The Solana has gained almost +31.2% in the last seven days, just enough for a spot in our top 5 cryptocurrencies list.
4. Synthetix Network Token (SNX) +33.9%
According to its website, Synthetix is a derivatives liquidity protocol on Ethereum. It allows the issuance and trading of synthetic assets. It traces the value of an external asset and it is an ERC20 token. In the last 7 days, the SNX price has increased by almost +33.9%, just enough for a spot on our top 5 cryptocurrencies list. The announcement of Bitfinex listing Synthetix Network Token may be one of the reasons behind its price rise.
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3. Vitae (VITAE) +36.4%
Vitae Token is a PivX fork. It uses a chain of Masternodes/ Supernodes for decentralized governance and enhanced transaction secrecy. It aims to increase global expansion. According to its website, Vitae is not just a token. Its purpose is to give prosperity through POS (Proof Of Stake), Master Node, Super Node, and a Social Rewards Website. In the last 7 days, the VITAE price has increased by almost +36.4%, just enough for a spot on our top 5 cryptocurrencies list.
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2. yearn.finance + 37%
yearn.finance is the ultimate DeFi superstar. Since it was released in mid-July of this year, the token has gained over 1,000% in value. yearn.finance offers several solutions to make it easier for the investor to invest in the DeFi area. It includes interest rate optimization, insurance, and much more. Andre Cronje, the developer of the project, is extremely active and works out one draft after the next. This week he published a sketch of his own stablecoin model based on the liquidity pools. This could be responsible for its strong performance. In the last 7 days, the YFI price has increased by almost +37%, just enough for a spot on our top 5 cryptocurrencies list.
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Aave is a decentralized lending platform based on Ethereum. The project has seen phenomenal growth since the introduction of lending pools. Anyone can use Aave to lend out or borrow Ether and ERC-20 tokens. Aave is seen as an innovative project. In the last 7 days, the Aave price has increased by almost +58.4%, just enough for a spot on our top 5 cryptocurrencies list.
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