Key facts:
ApeCoin is up 55% and is ranked 29th by market cap.
STEPN, CAKE, LUNA and ZEC complete the top cryptocurrencies of the week.
While bitcoin (BTC), ether (ETH), Binance Coin (BNB) and Solana (SOL) are failing to hold their respective prices, there are other major cryptocurrencies on the market that have performed well over the last 7 days.
At this time, there is only one crypto from the top 10 in the market in the top of the most gainers, while most of those that stood out are between 29 and 50 in the market, according to their total capitalizations. Some of them have appeared on the map of major currencies recently.
The week was dominated by the percentage increase of ApeCoin (APE), one of the most recent additions to the top 30. The Bored Ape Yacht Club coin, one of the most recognized non-fungible token (NFT) or collectible projects, has climbed the market in a very striking way in recent weeks.
Next, we find STEPN (GMT), a move-to-earn project token that rewards users for their mobility; and the Pancake Swap decentralized finance (DeFi) protocol CAKE token.
Finally, this week’s top is closed by two more recognized cryptocurrencies: LUNA from Terra and the privacy-focused coin Zcash (ZEC).
During the 7-day range, the major cryptocurrencies in the market were slightly lower. Bitcoin and Solana, for example, fell by the order of 1%. ETH and BNB, in turn, had around 2% depreciation in that period. From that top, the negative moment of Ripple’s XRP stands out, with more than 10% drop in 7 days.
ApeCoin
The coin with the largest increase in the week, ApeCoin (APE), seems to have leveraged on a rumor: during the week, it was circulating one information under which Bored Ape Yacht Club NFT owners would receive virtual land in Otherside, a long-awaited metaverse in the NFT enthusiast community.
The information has not been confirmed, but the price of APE reacted to this possibility. Specific, It has an increase of 55.54% in a range of 7 days, placing its price at USD 17.47 at the time of writing this article.
Currently, APE is ranked 20th in the market, according to its capitalization of market: more than 5,000 million dollars of accumulated capital. In addition, the exchanges where the token is listed have moved more than $1.9 billion in volume over the last 24 hours.
STEPN wins on the market for move-to-earn
The rise and popularity of game projects play-to-earn like Axie Infinity recently led to a new trend: move-to-earn systems, which instead of paying users to play do so for their movements (pay for walking or running). The second coin of this weekly top belongs to that line.
GMT, token of the STEPN project, is given as a reward for this kind of game move-to-earn. During the last week, GMT rose a total of 33.58% and stands at a price of USD 3.22 at the time of writing.
This rise seems to be caused in part by the interest generated by proposals like these, which allow users to generate profits with rewards. Another reason could be the STEPN earnings report, despite being released earlier this month.
In that income report, corresponding to the first quarter of this year, STEPN reported revenue of more than 26 million dollars from the sale of its NFTswhich represent sports shoes.
With the most recent upload, the STEPN token has a market capitalization more than 1,900 million dollars. Interestingly, in the last 24 hours, a volume of more than 2,000 million has been moved on the exchanges.
Pancake Swap rises more than 10%
In the world of decentralized finance (DeFi) there is also a representative in this weekly top. This is the CAKE token from the Pancake Swap exchange. During the last 7 days, CAKE rose a total of 11.24% and is at USD 8.96.
At its highest point of this period, however, the token momentarily exceeded $9.5 per unit on exchanges. However, it failed to hold and approach the $11.6 it started this year 2022 at.
At the time of writing this article, CAKE accumulates more than 2,600 million dollars of market capitalization, to place itself in the number 42. In a 24-hour range, just over $230 million worth of CAKE trades were moved on trading sites.
Terra returns to the upward path after millionaire capital injection
LUNA, the token of stablecoin creator UST (Terra), is up almost 11% over the past few days as well. This rise coincides with a new capital injection to Luna Foundation Guard. In total, the organization received 10 million LUNA equivalent to more than 800 million dollars.
At the time of writing, LUNA is priced at more than $88 per unit, with a total market capitalization of more than $30 billion and about $1.9 billion. trading volume in 24 hours.
Zcash rises 8% and remains in profit this year
Up 8.29% in the last week, this week’s altcoin market bulletin is closed by Zcash (ZEC). One of the leading privacy-focused cryptocurrencies, ZEC is priced at $149.76 at the time of writing.
Located at that mark, ZEC is slightly above the $148 it opened with this year. It is thus one of the few cryptocurrencies of the main market that has green numbers so far in 2022.
Its total market capitalization is over $2 billion, with $250 million in trading volume. Zcash is now the 50th cryptocurrency for capitalization.