According to data from CoinMarketCap, the three cryptocurrencies that have grown the most over the past week have been Algorand, Tron and 1Inch.
This has been a rough weekend for the overall cryptocurrency market. Bitcoin, Ethereum, and most altcoins have all suffered high volume drops. According to data from CoinMarketCap, Bitcoin fell to $33.616 due to low liquidity already high volatility.
Fortunately, Bitcoin liquidations were limited as users expected much deeper drops after a difficult week for the broader markets, so the price was able to hold above $32.000.
Bitcoin's fall during the first week of May has been made worse by the problems Terra (LUNA) has had. The protocol, which promised Buy unlimited amounts of Bitcoin to back your Terra USD (UST) stablecoin, suffered its first sell-off over the weekend, when a user sold nearly 300 million UST, causing it to briefly lose its link to the dollar.
It may interest you: Why did Terra (LUNA) buy 40.000 Bitcoins?
However, in this difficult climate, some altcoins have made gains over this weekend. According to the CoinMarketCap data, these have been the 3 altcoins that have grown the most this weekend.
1. Algorand (SOMETHING)
Algorand was one of the big stars of last week. The altcoin has seen a rise of almost 20% over the past seven days, driven by the news of its Partners with FIFA to become the official blockchain technology and services provider of the sports organization.
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2.Tron (TRX)
Another cryptocurrency that has been on a bullish rally over the past week has been TRX, Tron’s native coin, which has seen a 16,81% rise over the past 7 days.
TRX broke out of its highs, beyond the 38,2% and 50% Fibonacci levels, offering high gains. At the same time, it broke out of the ascending channel, although over the weekend it struggled to maintain the rise.
One of the reasons for this growth could be the Tron DAO announces the launch of an algorithmic stablecoin called USDD, whose mechanism is linked to TRX. This caused an increase in demand for TRX tokens on May 5.
3. 1inch Network (1INCH)
In third place among cryptocurrencies that have risen the most in the last seven days on CoinMarketCap we find 1INCH, which has risen by 11,05%.
One of the reasons for this increase could be the integration of BNB Chain natively into the Opera browser, which allows desktop users to automatically access decentralized exchanges such as 1Inch, BiSwap or PancakeSwap.
Continue reading: Algorand will become the official FIFA blockchain
