The best cryptomovers of the week
The volatility of the cryptocurrency market is well known. However, this has not stopped people, businesses and investment firms from putting their money into crypto. With so much volatility, this week’s top crypto engines have seen some notable gains.
Top crypto movers
It is very important to note that there are currently over 19,000 cryptocurrencies populated on dozens of blockchain platforms. That said, monitoring the biggest movements of all the cryptocurrencies will generate a list from the smallest coins. And to be honest, there’s no telling how long they’ll be there.
The top movers for the week on this list come from Coinbase. And just because they’re on Coinbase doesn’t mean they’ll be there either. Remember that Terra was one of the best currencies trading at $116 in April 2022. It is now worth $0.000098.
READ MORE: How to make money with cryptocurrency
Biggest development of the week – 30 July 2022
| Name | Price | Change | Market value | Volume 24 hours | Supply |
|---|---|---|---|---|---|
| Optimism – OP | $1.76 | 1.0501% | 414.8 million dollars | 788.3 million dollars | 234.7 million |
| Ampleforth Governance Token – FORTH | $6.75 | 0.9341% | 105.1 million dollars | 481.9 million dollars | 15.3 million |
| yearn.finance – YFI | $11523.2 | 0.7556% | 420.7 million dollars | $463.7 million | 36.6K |
| Wrapped Ampleforth – WAMPL | $6.5 | 0.7196% | – | 2.1 million dollars | – |
| Green Satoshi Token – GST | $0.057 | 0.6286% | 18.8 million dollars | 5.5 million dollars | 330.0 million |
| XYO -XYO | $0.0108 | 0.6177% | 139.9 million dollars | 11.3 million dollars | 12.8B |
| Ethereum Classic -ETC | $39.33 | 0.4954% | 5.3 billion dollars | 3.5 billion dollars | 136.1 million |
| Unifi protocol DAO -UNFI | $9.32 | 0.4888% | $42.0 million | 463.1 million dollars | 4.5 million |
| Tellor – TRB | $25.63 | 0.4492% | 43.7 million dollars | 96.6 million dollars | 1.7 million |
Top three Movers
If you’ve invested in cryptocurrency, the past few months have been tough, and that’s being generous. But like all financial markets, there are opportunities to make money even in a bear market. If you happen to own the top three on this list, you could have doubled your money in just seven days. These currencies managed to increase by up to 105%.
Optimism/OP – up 105.01%
Optimism is a layer two protocol and smart contract platform that wants to enable low-cost and near-instant Ethereum transactions. The OP cryptocurrency powers Token House, which will be a division of Optimism Collective alongside Citizens’ House. The collective controls network parameters, payments from the treasury and protocol upgrades.
Ampleforth Governance Token/FORTH – Up 93.41%
FORTH is a cryptocurrency that powers Ampleforth, a protocol that automatically adjusts the supply of its native token, AMPL, in response to demand. It is Ampleforth’s regime. FORTH holders can vote on proposed changes to the Ampleforth Protocol or delegate their votes to representatives who vote on their behalf.
Yearn.finance/YFI – up 75.56%
Yearn.finance (YFI) is an Ethereum token that powers the Yearn.finance platform. The platform is a return optimizer that moves funds around the decentralized financial ecosystem (“defi”) in an attempt to generate high returns.
Investment in cryptocurrency
Moving from traditional investment avenues to cryptocurrency is a big leap. But it’s not that different in that you need to do your due diligence before putting up your hard earned money. Before you invest your money in anything, make sure you are fully aware of the risks involved. Whether it’s a cryptocurrency or a traditional investment avenue, information is your best friend.
Based on this information, make the right investment according to the risk. In that regard, investing in cryptocurrency is no different than any other investment. However, cryptocurrencies are not regulated and their value seems to go up or down without rhyme or reason. Granted, they may have a large underlying value, but that doesn’t seem to have any impact as the market is primarily driven by how Bitcoin and to some extent Ethereum is doing.
As with any type of investment, be prepared to lose what you put in when investing in cryptocurrency.
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