The crypto market has had a very active week. The market has been painted green for the past few days. In the midst of this, many altcoin projects in the market managed to make significant gains. 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). By the way, it is worth noting that KLAY started to rise last week. This uptrend started with a proposal to reduce the crypto mining reward 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)
cryptocoin.com Dogecoin’s presence on this list is not a surprise to anyone. As previously mentioned, prominent Dogecoin proponent has signed a $44 billion deal with social media giant Twitter. Meme coin has underperformed quite a bit for a while. However, the price of the popular dog coin DOGE soared after Elon Musk took over Twitter.
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 move to reach its fixed price of $1. However, it should be noted that considering its current level, it doesn’t make much sense, no matter how powerful it is.
The stablecoin has seen a 19.9% increase over the past seven days. It then jumped from a weekly low of $0.035 to $0.0465. At press time, USTC was trading at $0.0428, up 13.64% daily. Despite this increase, the stablecoin remains below 90 percent of its $1 stable price.
