Top 5 Performing Cryptocurrencies of This Week

Cryptocurrencies, as an investment option, have been gaining popularity in recent years. The decentralized nature of cryptocurrencies and the potential for high returns have attracted many investors to this new and exciting market. However, with hundreds of different cryptocurrencies available, it can be challenging to determine which ones are worth investing in.

In this article, we will discuss the top 5 performing cryptocurrencies for the week. Whether you’re a seasoned investor or someone who is just getting started in cryptocurrency trading, this list will give you a better understanding of some of the best-performing assets in the market right now. So, without further ado, let’s dive into our analysis of the hottest crypto gainers of the week!

Read: ‘NOmeme ‘ NFT price skyrocketed, don’t miss it

Top 5 Performing Cryptocurrencies

1. KAVA KAVA
2. BITCOIN SV BSV
3. FLOKI FLOKI
4. USD COIN USDC
5. DAI DAI

KAVA

Kava is a decentralized blockchain that combines both the speed and interoperability of Cosmos with the power of Ethereum. More than 125 dapps are running on Kava. Kava raised a $750M developer incentive program.

Kava started the week in a green zone with a value of $0.7919 and a 24h market volume of $67.06M on May 5, 2023. Then its value slowly started to fall and moved toward the red zone continuously for a few days with a sharp price dip. On May 9, the value started to surge towards an upward moment. From then on, Kava didn’t look back; it started to rise.

The current price at the time of writing is $0.8863 with a 24h trading volume of $111.37M. The price has surged by 9.94% since last week.

Also read: Top 5 AI tokens in 2023

BITCOIN SV

Bitcoin SV is committed to advancing the Bitcoin protocol while adhering to the definitions of Satoshi Nakamoto’s original whitepaper. It is maintained under the governance of the Bitcoin Association, a non-profit association in Zug, Switzerland.

The reward for miners for completing a block is 6.27 BSV. Bitcoin SV started the week quite well with a value of $33.25 and a 24h trading volume of $26.67M on May 5. BSV went flat for a few days and then the price began to drop.

On May 9, the price was significantly down by $29.48 with a trading volume of $35.11M. It slowly started to pick up pace and move in upward momentum until it reached greener pastures. It reached a peak of $43.41 with a 24h trading volume of $353.16M on May 10. The current value at the time of writing is $35.17 with a 24h trading volume of $135.68M. The price has surged by 6.92% since last week.

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FLOKI

Floki is the utility token of the Floki Ecosystem. It is a multichain token built on both Ethereum and Binance Smart Chain. The FLOKi ecosystem consists of Valhalla- an NFT gaming metaverse, FlokiFi- Decentralized Finance, Floki NFT collections, Floki places- NFT marketplace and the University of Floki- an educational platform.

Floki had a rise of 4.10% since last week. The price of Floki as of May 5 was $0.00003235 with a trading volume of $19.732M. The price has rallied to $0.00005409 with a trading volume of $116.68M. The momentum slowly started to dip; however, it still traded in green territory.

The current price of FLOKI at the time of writing is $0.00003384 with a 24h trading volume of $72.80M.

Read:How to earn free Bitcoins daily

USD COIN

USD coin has increased by 0 .03% since last week. USD coin is an open-source smart-contract-based stablecoin. It is pegged to the U.S. dollar on a 1:1 basis . Circle, a stablecoin issuer, has recently altered its reserves treasury to lessen the risks of US debt defaults.

The week started with a price of $0 .9999 with a trading volume of $3 .19B. The coin has been steady for the entire week with little ups and downs.

It was more on the green side and reached the peak of $1.0005 with a trading volume of $3.73B on May 10. The current price at the time of writing is $0.9999 with a trading volume of $4.33B.

Read: Crypto trading tips to look into before investing

DAI

DAI is a stable coin and a decentralized organization built on the Ethereum blockchain. The price of DAI is soft pegged to the U.S. dollar. The Maker Protocol, also known as the Multi-Collateral Dai (MCD) system, allows users to generate Dai by leveraging collateral assets approved by Maker Governance.

The week started with a price of $0.9999 with a 24h trading volume of $101.32M. It maintained a steady path and then the price slowly started to dip. On May 8, it plunged to $0.996. The current price at the time of writing is $0.9998.

Cryptocurrencies are on a high this month, especially meme coins like PEPE and BEN are trending on the Crypto market the whole month. Investors need to be vigilant and do proper research while investing in cryptocurrencies.

Related: PEPE & BEN Meme tokens leading the Cryptocurrency Market