Altcoins
4 Altcoins Rule Slow Market Week With 10X Gains
The global cryptocurrency market has gone through a period of turbulence, affecting both Bitcoin and major altcoins. Nevertheless, amid the overall market decline, some cryptocurrencies stood out for significant growth, demonstrating the dynamic and sometimes unpredictable characteristics of the cryptocurrency sector. This week, Pendle (PENDLE), Ethereum Name Service (ENS), Turbo (TURBO) and BEFE stood out for their impressive performances, going against the general downward trend in the market. Let’s take a look at the specifics of these four coins and analyze how they made significant profits.
1.Pendulum (PENDLE)
Pendle has performed remarkably well, experiencing a significant increase in its value. Over the past week, the token’s price has increased by 17.88% to $6.13 today. This impressive growth was supported by a market capitalization of $949.14 million and a 24-hour trading volume of $68.3 million.
Having 11,093,920 PENDLE in circulation out of a total supply of 154,895,720 copies, Pendle has demonstrated solidity in a difficult market.
Pendle’s latest success is due to his new Challenge strategy, allowing users to trade tokenized future returns. Investors looking for new opportunities in the DeFi sector have been attracted to this distinctive value proposition.
2.Ethereum Name Service (ENS)
ENS price increased by 12.73% to trade today at $25.43, making it a successful week for the token, among other altcoins. The project, which facilitates the use of Ethereum addresses by allowing users to register readable names, has a market capitalization of $803.54 million and a trading volume of $118.8 million over the last 24 hours.
The total supply of ENS tokens is 31,594,457, of which 4,664,210 are currently in circulation.
The growing use of decentralized domains and recognition of their utility in the Ethereum ecosystem has fueled the demand for ENS. ENS’s knack for providing a seamless experience when interacting with blockchain addresses always attracts new users and investors.
3. Turbo (TURBO)
This week, Turbo saw significant growth as its price increased by 26.97% to $0.005852. The market capitalization of memecoin is $372.64 million, accompanied by a significant trading volume of $92.64 million in the last 24 hours.
There are 15,714,820,293 TURBO tokens in circulation out of a total supply of 63,674,701,174.
Described as a meme-based cryptocurrency created by artificial intelligence (AI) for the people, TURBO began as a bold venture into the development of digital currencies. Motivated by the potential of AI, the meme coin evolved into a decentralized, community-led crypto journey.
4.BEFE (BEFE)
BEFE also appears on the list of best performing altcoins of the week, with a 21.30% increase in its price over the past week, currently trading at $0.0002444. BEFE may have a modest market cap of $22.78 million, but it still attracted interest with a 24-hour trading volume of $5.19 million.
There are 20,701,938,180 BEFE tokens in circulation out of a total supply of 93,201,825,078 tokens.
BEFE is a new meme coin that aims to bring back the glory days of meme coins. There are no pre-sales and no taxes, making this a piece for the people. By staking BRISE, you can earn BEFE and be guided to greatness by its powerful memes. BEFE claims to be ready to dethrone the likes of PEPE, Doggy, Shib, Floki and Doge Inu as the ultimate king of memes.
Conclusion
Although the overall cryptocurrency market is slow, Pendle, Ethereum Name Service, Turbo and BEFE have shown that there are still opportunities to make big profits. These altcoins have resisted the market downtrend by offering unique value propositions, enjoying strong community support, and constantly introducing new ideas. As the market evolves, it will be interesting to observe the progress of these projects and determine whether they can maintain their momentum despite ongoing obstacles. Currently, they serve as proof of the resilience and possibilities of the altcoin market.