The crypto market has had a pretty hectic week. The market has been painted green for the past few days. In the midst of this, many altcoin projects in the market have managed to generate valuable profits. In fact, many made double-digit profits for the week. We also took a look at the top altcoin projects for our readers.
The top altcoin project Klaytn (KLAY)
Despite Elon Musk’s massive Twitter takeover, KLAY’s price has dwarfed that of Dogecoin (DOGE). In the middle, it’s worth noting that KLAY started rising last week. This uptrend started with a proposal to reduce the reward for crypto mining on Blockchain. This means that the mining reward will decrease from 9.6 KLAY to 6.4 KLAY.
In light of this update, both the price and social sentiment of KLAY have seen a marked increase. It should be noted that the crypto rallied from a low of $0.1401 to $0.2623 earlier this week. At press time, KLAY was trading at $0.2565, up 5.47% daily. It also witnessed a 99% increase on a weekly basis.
In second place is Elon Musk’s Dogecoin (DOGE)
Koindeks.com Dogecoin’s presence on this list is not a surprise to anyone. As mentioned earlier, prominent Dogecoin advocate signed a $44 billion memorandum with social media giant Twitter. Chest coin underperformed quite a bit for a while. However, after Elon Musk’s takeover of Twitter, the price of the recognized dog money DOGE rose sharply.
At press time, Dogecoin (DOGE) was trading at $0.0806, up 7.45% in the last 24 hours. However, during the week, the asset was up 38.86%. This pushed Dogecoin from a low of $0.05742 to a high of $0.08483.
The latest altcoin project Terra Classic USD (USTC)
This algorithmic stablecoin turned the cryptocurrency world upside down a few months ago. Its creators, Do Kwon, are still on the run and are wanted on a red notice. However, this asset made a strong attack to reach its fixed price of $1. However, considering its current level, it should be noted that although it is powerful, it does not make much sense.
The stablecoin has seen a 19.9% increase over the past seven days. It subsequently jumped from a weekly low of $0.035 to $0.0465. USTC was trading at $0.0428, up 13.64% daily at press time. Despite this increase, the stablecoin remains below 90 percent of its $1 stable price.