Crypto performances: the TOP/FLOP of week 13

Over the last 7 days, the prices of the top 50 cryptos have evolved between 61% up and 7% down. As usual, below you will find our top and flop podium of the week.

Top 1 – Waves (WAVES): +61%

Waves is one of the few cryptos that has been on the rise since the start of the year. Here are some of the performances of Waves:

  • + 61% over the last 7 days;
  • + 163% over the last 30 days;
  • + 458% over the last 60 days;
  • +235% since the start of the year.

In fact, the price of the WAVES token particularly exploded in the month of March. Waves even posted the best performance in the top 50 in week 9 (+57%) and week 10 (+45%).

Remember that Waves is a platform that allows you to host decentralized applications. In this, the token can be compared to Ethereum or Solana.

If the reasons for the explosion of the price of Waves are not completely clear, we can nevertheless advance some hypotheses. The migration (in February) to the blockchain Waves 2.0 and its new compatibility with the Ethereum Virtual Machine (EVM) gave the course a boost. This week is probably the creation of Waves Labs which caused the price to rise. Waves Labs launched in the United States on March 31, 2022 and will drive Waves’ expansion in the United States and around the world.

Top 2 – Aave (AAVE): 52%

The crypto Aave has also achieved excellent performance over the last 7 days. Its network has recently been upgraded (version 3) and now offers enhanced services for decentralized finance (DeFi). According to Aave, the network can now provide better profitability, more security and more cross-chain functionality. The establishment of “portals” is one of the new features that facilitate cross-chain transactions.

These developments helped drive Aave’s price up 90% over the past 30 days, and 52% over the last 7 days. With 3.4 billion dollars of capitalization, Aave is today the 47th global crypto.

Top 3 – Solana (SOL): 39%

For Solana, the start of 2022 has been difficult. In fact, the decline started right after its ATH ($260) on November 6, 2021. The price then started a long fall to $80 in March 2022.

However, the SOL has recovered since mid-March. The price of SOL has thus gone from around $80 on March 15 to around $138 to date, or almost 70% increase in 20 days. These performances allowed Solana to grab 2 places in the world ranking of cryptos (now 6th).

Flop of the week

This week, the only real flop is in crypto ApeCoin. But what is this crypto in the monkey name?

ApeCoin is a ERC-20 token, that is, it runs on the Ethereum blockchain. The coin was listed very recently, on March 17, 2022. Its entry caused a lot of noise and the coin was quickly ripped off. Trading platforms have also quickly understood the buzz around the corner and have already listed it for many. This is the case of Binance, FTX, KuCoin, Kraken, etc.

If you follow the field a bit, the name of this corner certainly made you think of some NFT collections. You will therefore not be surprised to learn that ApeCoin is the token of the Ape Coin DAO project. This decentralized organization was created by Yuga Labs and notably launched the NFT Bored Ape Yacht Club. The ApeCoin serves as an exchange currency for the Bored Ape Yacht Club ecosystem but also for the development of a metaverse solution in the long term.

Knowing the speculative madness on NFTs at the moment, it was to be expected that the price of ApeCoin would be a roller coaster. And indeed it did not fail! The token was listed at a price of around $10. Then in just a few hours, its price lost almost 18% to rise and reach $39.40 (its ATH) before plunging again. The price of ApeCoin has decreased by 8% over the last 7 days making it the worst performance in the top 50.

If this corner makes speculators happy, it is on the other hand under fire from critics for these same reasons. Recently, Vitalik Buterin himself half-heartedly criticized the corner, recalling that the “purpose of crypto is not to play games with images of million dollar monkeys”.

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Crypto performances: the TOP/FLOP of week 13

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