Most digital tokens have lost nearly 60% of their value since November last year’s highs. Nevertheless, many had secured reliable support zones. Furthermore, some assets presented an impressive performance. Here are the details.
Synthetix Network (SNX) +86.0%
Synthetic enables investors to sell and distribute synthetic assets representing real-world assets like stocks, fiat currencies, crypto, and virtually everything with a price tag.
Here, users swap on collaterals and not specific opposite parties in a business or contract transaction. Moreover, traders can purchase and sell synthetic goods and access investable and derivatives baskets. SNX has surged around 86% within the past seven days, thus, topping our list.
Celsius Network (CEL) +83%
Celsius is decentralized finance (DeFi) network for lending on Ethereum. It allows users to take and deliver loans. Meanwhile, CEL has seen impressive performance due to the public hype around DeFi. The alternative token surged by approximately 83.5%.
STEPN (GMT) +78%
STEPN (GMT) is a move-to-earn gaming site on Solana. It allows users to earn coins by running, sprinting, or walking. First and foremost, users buy footwear matching their physical exercise to start earning tokens.
The game serves as a web3.0 network designed to encourage a healthy lifestyle. It achieves that by rewarding individuals who exercise. The project’s official website shows it combines Social-Fi and Game-Fi elements.
Meanwhile, Game-Fi is an outmoded ingredient within blockchain gaming, as games include banking and gaming. GMT gained about 78.1% over the past seven days.
Polygon (MATIC) +70%
Polygon (MATIC) is an ETH platform scalability solution. Ethereum was the first blockchain to roll out smart contracts, making ETH the undisputed leading within Dapps. However, Ethereum has failed to ensure efficient and speedy transfers as ‘smart’ contract functionalities increased.
That is where Polygon comes in. It’s a layer2 solution that empties the ETH network using a 2nd level and multiple sidechains. Polygon’s plasma chains remain crucial. These Ether sidechains remove ‘smart’ contracts from the ETH network.
Smart contracts and Dapps’ creators can outsource labor to the MATIC network. That solves Ethereum’s scalability problems. MATIC has gained approximately 70.9% within the past week, joining our list of top weekly cryptos.