5 Altcoins performed unbearably despite the collapse of Bitcoin (BTC) and Ethereum (ETH). The 5 altcoins on the list have managed to more than double their value in just one week. Here are the 5 altcoins on the analyst’s list
Altcoin at the top of the list: GXChain (GXC)
One of the decent performing altcoins in the last seven days has been GXChain (GXC). GXC is a blockchain network designed to facilitate data upload, storage, computation and exchange. The altcoin rallied from a seven-day low of $0.479 to $1.75. Thus, it experienced an increase of over 265 percent in just one week. GXC is currently trading at $1.21 levels.
One of the best debuting altcoins this week is Rich Quack (QUACK). QUACK was designed to help bring the next generation of crypto protocols to life. Thus, QUACK has become a community-driven project that aims to be a multi-chain launch ecosystem. The altcoin rallied over 216 percent from $0.000000000106 to $0.000000000335. Currently, QUACK is trading at $0.0000000000261.
Third on the list is Phala Network (PHA)
Next up is a project that aims to enable massive cloud processing without compromising information privacy. Phala Network’s local altcoin project PHA. PHA rose from $0.071 to $0.218, representing an increase of over 207 percent. PHA has pulled back a bit and is now trading at $0.214.
Another altcoin making the list is SingularityNET (AGIX), a project that aims to become a blockchain-based marketplace for artificial intelligence services ranging from individual AI algorithms to standalone AI applications. AGIX rose from $0.042 to $0.121. Thus, in just one week, it increased by more than approximately 188. AGIX has fallen since hitting its weekly high and trades at $0.0714.
Altcoin at the bottom of the list: Casper Network (CSPR)
As Koindeks.com reported, CSPR shows impressive results in terms of profitability and market performance. Casper is always being developed in line with the evolving needs of its users. Blockchain becomes maximum accessible to developers of all backgrounds. Moreover, Casper is optimized to suit enterprise and developer requirements. The network is actively developing during the active development of the Web3 industry. According to the descriptions of the developers, Casper forms the adoption trilogy. Thus, scalability and decentralization are combined in a single blockchain protocol. Casper is performing strongly in the market.
According to the technical analysis, Casper has been moving in a sharp uptrend for the last 45 days. But it will likely face a technical correction due to the imbalance between the bulls and bears. According to the Asset Relative Strength Index, it has bought a lot in the last few weeks. Therefore, the reverse of the acceleration will create a logical continuation movement. Long-term, the CSPR is trading in a downtrend below the 200-day moving average. A short-term reverse turn could be the basis for a suitable trend reversal if it successfully breaks the local moving average and exceeds $0.042.