A span of Ethereum tokens, Global Awards Token (GAT) and Chainlink (LINK), intelligent item blockchain association NEM (XEM), and a span of stablecoins, TrueUSD (TUSD) and the Paxos Standard Token (PAX), made the biggest cryptocurrency price moves this week. Here’s why.
The following is for educational purposes. It is not investment advice.
Market Cap: $185,658,297
7 Day Increase: 23.8%
Chainlink (LINK) is an ERC20 token that for the Chainlink network, which provides a overpass between blockchain smart contracts and off-network applications. Users, or “oracles,” find and determine real-world information streams and send them to the blockchain. In return, oracles accept LINK.
Global Awards Token (GAT)
Market Cap: $2,016,433
7 Day Increase: 17.2%
The Global Awards Token (GAT) is an ERC20 token that facilitates micro-transactions in the rewards and faithfulness industries. GAT is in the center of a trade foe on Kucoin, one of the crypto exchanges with the lowest fees, no doubt contributing to the token’s cost increase.
Market Cap: $847,001,378
7 Day Increase: 16.4%
NEM, and the local cryptocurrency XEM, is a intelligent item blockchain association that is building the possess enterprise-grade blockchain system from the belligerent up. The NEM (XEM) height aims to yield a extended operation of services and dApps for businesses.
Market Cap: $160,899,723
7 Day Increase: 14.6%
It might be startling to see a stablecoin on a list of the week’s biggest crypto cost moves. Indeed, stablecoins are by clarification pegged in a 1:1, fast attribute with a fiat currency, in this case, the U.S. dollar.
But that brace doesn’t obviate an boost in the coin’s value. For example, TrueUSD (TUSD), an independent stablecoin, pennyless the brace by one cent. Its value relations to Bitcoin increasing 14.6% over 7 days.
This could be due to new seductiveness in stablecoins.
Paxos Standard Token (PAX)
Market Cap: $131,998,208
7 Day Increase: 14.4%
The Paxos Standard Token (PAX) is another stablecoin whose cost changed more than 14% relations to BTC while violation the brace ceiling one cent. On the Ethereum network, PAX can settle any transaction and modify to fiat to move supports off chain. The company behind it explains that it combines USD fortitude with blockchain’s speed.
Cryptocurrency Prices This Week
From ERC20 tokens like Chainlink (LINK) to stablecoins like TUSD, the week’s biggest cost moves paint a different collection of cryptocurrencies.
Absent from the list is Cryptowave (CWV), which is up 1533% over 7 days. CWV claims to be building the possess amalgam of accord mechanisms and crush algorithms to rise a high-performance blockchain for dApps. Such a thespian cost spike could prove a siphon and dump.