The price of Bitcoin has broken all forecasts and has broken its all-time high (ATH) several times this week, which has dragged another group of tokens and coins in general to emulate their behavior.
Due, some altcoins have been in the ‘trending topic’ alongside the leading cryptocurrency, due to the interest they have aroused among cryptocurrency lovers and strangers.
Let’s review the highlights of the week, based on metrics compiled by well-known cryptocurrency analytics firms CoinMarketCap, CoinGecko, and LunarCrush.
1.- PancakeSwap (CAKE)
It is the # 1 pool on Binance Smart Chain, a decentralized exchange based on the Automated Market Maker (AMM) model that allows BEP20 assets to be exchanged between each other.
Its native token CAKE has been growing rapidly since last January, when it reached its maximum of USD 1.61 at that time on January 29. In the last 30 days, its price has grown by + 598.74%.
Now CAKE is trading at a price of $ 17.41 according to CoinMarketCap, who It ranks second on the list of the most trending cryptocurrencies in the last seven days, after reaching its ATH above $ 19.
CoinGecko and LunarCrush, two other prestigious cryptocurrency analysis firms, place the token in the second position of the most trending coins on the market.
LunarCrush gives it a score of 68/100, which measures the ‘noise’ an asset has around social media and specialized news media, which has kept it among the most sought after
The great popularity of the BSC chain within the DeFi sector has allowed many merchants and decentralized finance enthusiasts to choose PanCakeSwap, among other reasons, because of the economy of its transaction fees.
On February 20, the exchange set a record, reaching the highest daily trade volume of USD 1.6 billion, becoming the largest decentralized exchange to date, surpassing even the popular Uniswap, further increasing the demand for its native token CAKE.
At press time, CAKE is in the top 50 of the general cryptocurrency ranking with a market capitalization of around two billion dollars.
2.- Binance Coin (BNB)
The native currency of the giant cryptocurrency exchange Binance, has been among the main holders of the ecosystem in the last seven days, after its price took off, and its advance in the general market ranking.
The price of the BNB token has taken off + 127.02% in the last seven days, and is located in the fourth position of the most trending altcoins for the week according to CoinMarketCap. The rationale has been its new ATH reached above $ 300 this week.
Two days ago, Binance Coin’s price takeoff by 50%, allowed it to rise to the third position in the general ranking of cryptocurrencies, displacing Tether (USDT) from that place.
With the DeFi craze at its peak, the demand for decentralized exchanges “DEXs” has been on the rise. But unlike Uniswap, which is under the Ethereum blockchain, the lack of scalability and high fees has forced the retailer to seek alternative options built on top of the Binance Smart Chain (BSC), such as PancakeSwap, something that has driven the demand for the BNB token.
Cryptocurrency analytics firm LunarCrush ranks BNB token fifth in the altcoin ranking by trend, with a GalaxyScore of 70 out of 100, an internal metric for measuring altcoin exposure on networks.
According to CoinGecko, the Binance Coin token is in the third most wanted box, below the native tokens of the decentralized exchanges JulSwap (JULD) and PancakeSwap (CAKE).
3.- Cardano (ADA)
Charles Hoskinson’s project, Cardano, is another altcoin that is among the most trending coins in the last seven days, according to CoinMarketCap.
Unlike the previous ones, Cardano’s native currency, ADA, does not appear this time in similar listings on LunarCrush or CoinGecko. Nevertheless, Cardano has made headlines for the improvements made to its platform that have demanded the use of the native currency, which has taken off up to thirty percent in the last seven days.
On February 3, Cardano announced the Mary update, which transformed the blockchain into a multi-asset network similar to Ethereum. The development company behind Cardano, IOHK, is expected to release updates to the native Goguen token in late February, as per the pre-established roadmap.
As a result, the ADA token has been in constant trend in recent days due to expectations regarding these updates that has allowed it to be in the third box of the most trending coins in the last seven days, as the date of updates on your network.
At the end of this post, ADA is trading at a price of USD 1.10, with a monthly accumulated of + 215.82% and a market capitalization that oscillates for 34 billion dollars, which places it in the sixth box of the general ranking of cryptocurrencies.
4.- Uniswap (UNI)
The UNI token of the giant decentralized exchange Uniswap, is another that has been at the top of the ranking of the most trending coins in the last seven days. Coingecko places him in the sixth box, above Pundi X.
Uniswap’s native token, UNI, reached its all-time high on February 20, registering a record $ 32.63, motivated by the great buying pressure that the token is having by investors seeking to obtain returns in DeFi on the market leading decentralized exchange.
The boom of DEX to obtain higher annualized returns than traditional finance through liquidity pools is one of the activities that is causing the sector to take off, while the native tokens of these platforms are demanded to generate lower commissions in the transfer or exchange of assets over the Ethereum network.
Uniswap also appears on CoinMarketCap in box 20 of the most trending coins in the last seven days, after its price takeoff of + 38.58% in this period.
5.- Polkadot (DOT)
Interoperability between chains is a trend that is gaining traction and Polkadot has made it known. The result is a new world of projects focused on decentralized finance, decentralized oracles and decentralized exchanges that little by little have been gaining a space among the blockchain ecosystem.
Consequently, The native DOT currency, has experienced great demand for the use cases that are being developed on Polkadot, which had its boiling moment on February 20 when the token reached its all-time high at USD 42.06 per unit.
CoinMarketCap ranks it as the ninth most interesting and trending project in the cryptocurrency ecosystem in the last seven days.
LunarCrush places it with a score of 63 out of 100, thanks to the performance that the DOT token has had this week after its all-time maximum reached.
The message that appeared on the social network Twitter on February 19 about the first successfully completed cross-chain message between Plasma Network and Acala Network on the Kusama and Polkadot test network, Rococo, was reason enough to encourage investors and enthusiasts. of cryptocurrencies to seek to increase their holdings in DOT, Polkadot’s native token.
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