Key facts:
Cardano, the sixth most valuable coin on the market, is up nearly 20% on the week.
Neo, Chiliz and Chainlink complete the top of the most appreciated cryptocurrencies.
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After a long negative period, the cryptocurrency market finally seems to recover. Bitcoin (BTC) closed a week in the green for the first time in more than two months and the rest of the cryptocurrencies have been boosted from that rise.
For this week’s CryptoNews top altcoins, we even have a rise of up to 50% from WAVESwhich managed to regain parity for its algorithmic stablecoin with better luck than Terra’s UST.
Cardan (ADA), whose network upgrade via a hard fork called Vasil is just around the corner, is up almost 20% in the last 7 days; while NEO had a boost of more than 13% in that period.
The top cryptocurrencies of the week are completed Chiliz (CHZ), also with more than 13% above; Y Chainlink (LINK)which rose more than 11% after an integration with Solana.
As we discussed at the beginning of this article, bitcoin managed to close in the green for the first time since the fourth week of March, albeit with a modest 1.53%. Meanwhile, other major cryptocurrencies in the market, such as Ether (ETH) and Ripple’s XRP, also rose slightly in price.
Binace Coin (BNB), Solana (SOL), Dogecoin (DOGE) or Polkadot (DOT) did not have the same luck. All part of the top 10 of the market, which closed in the red in a 7-day rangeat the end of this bulletin.
Waves stablecoin recovers, unlike Terra USD
After such a serious debacle, it is logical that the ghosts of LUNA and Terra USD (UST) haunt everyone’s mind in the face of any eventuality for a cryptocurrency project. And if it is related to a stablecoin losing its parity with the dollar, worse.
This was what happened with Neutrino USD (USDN), stablecoin of the Waves ecosystem this week, following an “aggressive” sell-off in the Curve Finance liquidity pool. However, the result was very different. those in charge of protocol managed to stabilize parity successfullysomething that the market seems to reward with the rise of the WAVES token.
In total, Waves rose 51.94% in 7 days at the cut of this report to settle at USD 8.64. at some point in the week even reached over 10 dollars per unit. And although it is a long way from his best moments (right now more than 80% below his all-time high), this week seems to be a sign of recovery.
The total market capitalization of waves it is just shy of $1 billion and its exchange trading volume was 670 million in the last 24 hours.
Cardano Rises as Investors Wait for Vasil Fork
A network update always raises expectations in project enthusiasts and the market in general. Now it’s Cardano’s turn, whose fork Vasil is getting closer.
The market, with the expectation of the improvements that Vasil will bring to the Cardano network, has reacted with a 19.65% increase in the last 7 days. The current price of its ADA token is USD 0.6268 at the close of this report, but expectations are even higher. pass the dollar after the network update is activated.
The total capitalization of Cardano is about 21.1 billion dollars, so it is about the sixth most valuable cryptocurrency in the entire market. And if we exclude the stablecoins Tether and USD Coin, ADA is in fourth place.
The trading volume of the coin in the last 24 hours exceeded 1,000 million dollars, with an increase of more than 144% compared to the previous day.
Neo price rises after updating its network
Speaking of updates, during the week it came to light version 3.3.0 of Neo, network for the development of Web3 applications. And its native coin, NEO, has also benefited from the market since then: 13.88% increase in 7 days to reach $12.94.
Also, the largest exchange in the world, Binance, launched a program of Neo staking with more than 30% possible return just a few days ago.
NEO is currently the 61st most valuable coin on the market, with a capitalization of $911 million and a trading volume of more than 200 million dollars. The latter, with an increase of more than 75% compared to the previous day.
Chiliz rises 13% and moves away from its lowest point of the year
In fourth place in the market this past week we find Chiliz (CHZ). The cryptocurrency of the network associated with FIFA for the Qatar 2022 World Cup rose 13.20% in 7 days.
The increase is significant. And although it is still a long way from its starting price this year (over 50% down in 2022), its $0.1326 at time of writing means a significant recovery from its lowest level this year recorded in mid-May. Since then, when CHZ fell to $0.089, it has risen about 50%.
Chiliz’s market cap is just under $800 millionwith trading volume on exchanges approaching $100 million in the last 24 hours.
Chainlink integrates price oracle on Solana
The last place of this top cryptocurrency in the market belongs to Chainlink (LINK). The currency rose 11.32% at the cut of our report, which closed with a price of USD 7.98 per unit.
Just this week, the Chainlink oracle was integrated in Solana. This feature, which was already used by decentralized finance (DeFi) protocols such as Aave and Compound, becomes the first alternative to the Ethereum Virtual Machine for DeFi protocols running on Solana.
LINK is the 23rd coin in the market, thanks to its more than 3,700 million dollars of accumulated capital. However, like most cryptocurrencies, its performance so far this year has been negative. More than 60% down since January 1, something difficult to reverse in the short term.