After the crash, it seems that Bitcoin is now able to maintain the $10,000 mark from the past 7 days and its price has increased slightly. Some cryptocurrencies are performing exceptionally well and showing strong growth. Here are the top 5 performing cryptocurrencies of the week (week-7). Let’s take a look at it in more detail.
5. Binance Coin + 35%
Binance Coin is the native coin of the Binance crypto exchange. This gives holders advantages in using the crypto exchange itself and is also used as a native coin on the Binance Chain and the Binance Smart Chain. The commencement of the Smart Chain and Yield Farming on Binance could be responsible for the sharp rise in the price of the coin. In the last 7 days, the Binance Coin price has increased by almost +35%, just enough for a spot on our top 5 cryptocurrencies list.
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4. Celsius Network + 36%
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 +36%, just enough for a spot on our top 5 cryptocurrencies list.
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3. DFI.money + 50%
DFI.money is a Chinese fork of yearn.finance with minimal changes. DFI claims to focus more on the community while yearn claims to be structured more like a company. The good performance of the yearn (see below) is probably responsible for the sharp rise in the token price. In the last 7 days, the YFII price has increased by almost +50%, just enough for a spot on our top 5 cryptocurrencies list.
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2. IOST + 52%
IOST is a smart contract blockchain that aims to solve the scaling problem. The blockchain is based on its own consensus mechanism, called “Proof of Belivability”. This system gives network nodes a reputation based on their previous contributions and their behavior. IOST has been getting attention lately because it came in 3rd in the most recent China blockchain ranking. In addition, the coin was listed on one of the largest crypto exchanges in Japan, Coincheck. In the last 7 days, the IOST price has increased by almost +52%, just enough for a spot on our top 5 cryptocurrencies list.
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1. yearn.finance + 58%
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 the 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 +58%, just enough for a spot on our top 5 cryptocurrencies list.
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