Top 5 blockchain projects outperforming Bitcoin’s recent 30% gains

Top 5 blockchain projects outperforming Bitcoin’s recent 30% gains

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The cryptocurrency market has seen significant gains recently, with Bitcoin surging over 30%. The altcoins and DeFi space have also seen substantial gains, with Conflux ($CFX), Mask Network ($MASK), Stacks ($STX), MAGIC ($MAGIC) and Fantom ($FTM) leading the way.

The top altcoin gainers this week are:

  1. Conflux ($CFX) +197.%
  2. Mask Net ($MASK) +129%
  3. Stacks ($STX) +112%
  4. Magic ($MAGIC) +78%
  5. Ghost (FTM +63%

Confluence Network (CFX) has gained 15.6% in the last 24 hours, 197.94% last week, and 174.88% last month. It has a market capitalization of $1.1 billion and a 24-hour trading volume of $1.1 billion. Its current price is $0.42004, 57% less than its all-time high.

Conflux was launched in 2018 by blockchain researcher Andrew Yao with the goal of addressing persistent challenges in the blockchain space, such as scalability, interoperability, decentralization, and security. To achieve this, it works like a Layer 1 permissionless blockchain and uses a proof-of-work consensus mechanism. Furthermore, Conflux employs a smart contract language similar to Ethereum.

Conflux
(@CFX trading. Source: CryptoSlate)

Network mask (MASK) has gained 37.88% in the last 24 hours, 129% in the last week, and 58.65% in the last month. It has a market capitalization of $487 million and a 24-hour trading volume of $483 million. Its current price is $6.39442, 1% less than its all-time high.

Mask Network offers a platform that allows people to transmit cryptocurrency, interact with decentralized applications, and share encrypted material on various social media platforms. The protocol allows for secure communication, including sending encrypted messages and transferring cryptocurrency through platforms like Twitter.

Face mask
($MASK trade. Source: CryptoSlate)

Batteries (STX) has gained 14.72% in the last 24 hours, 112.96% in the last week, and 284.62% in the last month. It has a market capitalization of $1.7 billion and a 24-hour trading volume of $589,335,046. Its current price is $1.24438, 61% less than its all-time high.

Stack is preparing to release Stacks 2.1 in the coming days, a major update to Stacks Blockchain 2.0 released on January 14, 2021. Stacks is based on the Bitcoin blockchain, leveraging its security and robustness while expanding its functionality. . Stacks features a unique consensus mechanism called Proof of Transfer (PoX), which connects the Stacks blockchain with Bitcoin.

He Stacks 2.1 The update aims to improve the Stacks ecosystem by offering better stacking, integration, and use cases with Bitcoin, making it more attractive to both developers and users.

The activation of Stacks 2.1 will occur at Bitcoin block height 781,551. At the time of publication, Bitcoin is on the block 781,373.

batteries
($STX trade. Source: CryptoSlate)

MAGIC (MAGIC) has gained 15.29% in the last 24 hours, 78.17% in the last week and -17.56% in the last month. It has a market capitalization of $385,112,321 and a 24-hour trading volume of $363,267,826. Its current price is $1.81449, 21% less than its all-time high.

MAGIC belongs to a distinct and emerging category of metaverse tokens that serve as a currency on Trove’s decentralized marketplace for buying and selling NFTs. Additionally, this token makes it easy to link between existing and future metaverses. Several projects are currently operational on this platform, with some new ones in the development stages. Examples of ongoing projects include LIFE, Smolverse, among others.

Magic
($MAGIC 7-day surge. Source: CryptoSlate)

Ghost (FTM) has gained 12.02% in the last 24 hours, 63.34% in the last week and 81.04% in the last month. It has a market capitalization of $3,931,530,732 and a 24-hour trading volume of $576,048,956. Its current price is $1.13, 44% less than its all-time high.

Fantom is a smart contract platform that features high performance, scalability, and security, as described by the Fantom Foundation. The platform consists of several unique components. First of all, there is the Fantom Opera blockchain, which serves as the foundation. This open source directed acyclic graph network is compatible with the Ethereum virtual machine, allowing you to run existing smart contracts and create new ones that interact with Ethereum contracts.

Ghost
(Source: CryptoSlate)

Read more: Bitcoin surges 10% hitting 9-month highs

Published in: Analysis, DeFi

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