Currently, there are over 20,000 cryptocurrencies available for investments or trading. So, picking the best cryptocurrency options out there can be extremely difficult, especially if you are a beginner.
After the recent crypto market-wide crash, many digital assets are now recovering their losses and increasing in value. Several cryptocurrencies have made marginal to massive gains as the crypto market is slowly moving to stabilize.
Go ahead and learn more about the 6 crypto gainers this week.
FIL is an open-source cryptocurrency that runs on a decentralized peer-to-peer storage network that allows anyone to store and retrieve data. The network was developed by Protocol Labs, an open-source R&D lab on a peer-to-peer storage network called Interplanetary File System(IPFS). Platforms that offer Filecoin purchases include Coinbase, Gemini, Crypto.com, and Binance.
Often tagged "the future of data storage," Filecoin(FIL) provides lower data storage costs and is capable of creating a market that uses up excess storage spaces in data centers.
FIL rose from around $5, where it was trending last week, to as high as $11 recently before correcting back down to $8.35, where it is currently trading, making it one of the top 6 crypto gainers this week.
Filecoin made its mark in the crypto market in 2017 when it set a new record for the highest amount raised during a cryptocurrency ICO. Filecoin had raised more than $200 million at the time, which put it on a path to becoming a top contender in the space.
Fetch.ai develops tools and infrastructure to facilitate the development of a decentralized digital economy. The network is built on open-source technology that any user may use to join the network. Built on a distributed ledger, it enables safe worldwide data sharing, connectivity, and transactions.
The idea is a combination of artificial intelligence (AI) and blockchain technology. For FET holders, staking remains the most secure investment choice. When you store your money on the Fetch.ai blockchain, you may earn up to 10% per year. While FET performed admirably in 2021 and provided large profits for investors, it lost some of its gains in the earlier market crash. However, the utility crypto climbed the price charts by around 20% this week. At the time of writing, it is trading at $0.09.
With continuing advancements and enhancements to the FET environment, it may have a bright future in 2022.
DYDX is a community-powered derivatives DEX. It combines a new cryptocurrency, advanced trading features, a responsive DEX, and layer-2 scalability to create new ROI opportunities for traders.
Since its launch, DYDX has registered 15,000+ traders and recorded $2+ billion in trading volume. Additionally, the platform recently underwent a major upgrade and introduced StarkWare’s layer-2 solution to the ecosystem, which expanded its functionality and scalability considerably.
DYDX is another utility crypto on our list of top 6 crypto gainers this week. It started at $2.05 at the week’s beginning and dropped to $1.90 the next day. It bounced soon after – establishing an uptrend and reaching $2.29 at the time of writing.
SKALE Network presents a solution for the congestion on the Ethereum network due to high volumes of devs using the platform for decentralized app development. Thanks to the use of elastic sidechains, SKALE is completely integrated into the Ethereum network, allowing users to bypass any traffic congestion on the network by using sidechains for developing dApps.
SKL plays an integral role in securing the SKALE Network. The network uses a pool validation model with node validators to ensure that small sets of nodes won’t be compromised as smaller sets are usually more susceptible to corruption.
SKL opened at $0.051 before trading sideways. It then witnessed a steep drop to $0.045 before bouncing and establishing an uptrend. At the time of writing, the token is trading at near $0.05 again, making it one of the top 6 crypto gainers this week.
MyNeighborAlice is a multiplayer blockchain game in which players buy and own virtual lands, collect and build items, and socialize with other players. It is a one-of-a-kind blockchain-based game where non-crypto native players collaborate to construct, create and play.
Its native token ALICE jumped by 60,000% within 30 seconds of being listed on Binance in March 2021 – from $0.1 to $60. It corrected to the $3-4 level by mid-2021 and revisited that support level in Q2 2022, after reaching as high as $28 in late 2021.
ALICE opened at $2.28 at the beginning of the week before experiencing a sharp retrace. It established a sideways trend before steadily rising to $2.75 at the time of writing, proving itself to be one of the top 6 crypto gainers this week.
In the bullish case for ALICE, its social presence is still high and trending, thanks to the efforts of the team behind My Neighbor Alice.
Ankr aims to make the adoption of Web3 easier by offering a platform where users can deploy nodes on Proof of Stake (PoS) blockchains, stake their PoS tokens, and access decentralized finance (DeFi) applications.
Running a node for a PoS blockchain is often perceived to be an attractive way to earn income. However, significant hardware investments and technical proficiency are often seen as barriers to getting started.
Ankr’s native cryptocurrency, ANKR coin, serves as a payment method across the Ankr platform.
Ankr Opened at $0.028 last week and, like the other assets listed, plunged sharply before establishing sideways trading. At the time of writing. Ankr is trading at $.0.03 – a nearly 10% increase from last week.