Cryptocurrencies are currently facing a downward trend, with Bitcoin failing to break the crucial $30,000 resistance price and start to pull back lower. As a result, most altcoins have also followed suit, with their prices falling along with it. However, some altcoins have managed to buck this trend and have shown positive gains over the past seven days. In this article, we mention the top 3 altcoins outperforming Bitcoin during this crypto crash.
P.S. there are many new cryptocurrencies that gain more than 1000% because their market capitalization is very small and can be easily manipulated. In this article, we focus on those with market capitalizations above $500 million.
How has Bitcoin performed recently?
Bitcoin started the week hovering around 29K and despite several attempts, prices failed to break above the crucial 30K mark for the fourth time in recent months. Although Bitcoin managed to produce a counterfeit above 30K that lasted for three days, the price then pulled back lower. As a result, Bitcoin is currently down 7%, and the entire cryptocurrency market has been affected as well, down 5%. However, Bitcoin's dominance in the cryptocurrency market remains significant, currently hovering around 46%. These recent market fluctuations highlight the volatility of cryptocurrencies and the importance of doing thorough research before investing.
Top 3 Altcoins Outperforming Bitcoin
#3 One But Leo (LEO) +2.4%
Unus Sed Leo is a cryptocurrency, also known as LEO, which was launched in May 2019 by the Bitfinex exchange. The name "Unus Sed Leo" is Latin for "One but a lion" and symbolizes strength, power and unity. LEO is an ERC-20 token, which means it is built on the Ethereum blockchain. Its primary goal is to provide a utility token for traders and investors on Bitfinex, with benefits such as reduced trading fees, access to exclusive trading products, and enhanced deposit and withdrawal limits.
#2 Bitcoin SV (BSV) +10.9%
Bitcoin SV (Satoshi Vision) is a cryptocurrency that was created in November 2018 as a result of a hard fork of the original Bitcoin Cash blockchain. Bitcoin SV aims to restore the original vision of Bitcoin as described by its creator, Satoshi Nakamoto, by increasing the block size limit from 32MB to 128MB and going back to the original Bitcoin protocol. This allows for faster transaction times and lower fees, making it more practical for everyday use. Bitcoin SV also aims to enable businesses and developers to build decentralized applications (dApps) on top of the blockchain and provide a stable platform for business use. Despite the controversy surrounding its founder, Craig Wright, Bitcoin SV has gained a following among some members of the crypto community.
Coffee #1 (COFFEE) + 36.9%
Kava is a decentralized finance (DeFi) platform that is based on the Cosmos blockchain. The platform aims to provide users with a wide range of financial services, including lending, lending, and trading, all in a decentralized manner. Kava uses a dual-token system, with the KAVA token being the platform's native token, and the USDX stablecoin being used for lending and lending activities. Kava's lending and lending services allow users to earn interest on their cryptocurrency holdings, while its trading platform offers access to various cryptocurrencies and tokens. Kava is designed to be highly scalable and interoperable, allowing for seamless integration with other blockchain networks. The project has gained significant attention within the crypto community and has partnerships with prominent industry players such as Binance, Huobi, and Chainlink.
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