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  • Cryptocurrency WATCH: Last Week’s Best & Worst Performers

    Cryptocurrency WATCH: Last Week’s Best & Worst Performers

    Looking at the top gainers and losers for the week, here is all you need to know about top performers and not-so-top performers of the week.

    Top Crypto Weekly Gainers

     

    Vanilla Network (VNLA) bags the first rank in the weekly timeframe with its phenomenal performance. The cryptocurrency established its all-time high at $28, although it went down to $25 – the price at the time of writing. The daily trading volume stands at 800K -which observed a slight decline of 5%. Vanilla Network is a deflationary token which applies the fundamentals of economics by driving up the demand with a continuously restricting supply.

    BackPacker Coin (BPC), too, has stolen the limelight. As of this writing, the cryptocurrency stands at $2.91 – skirting close to the all-time high of $3.12 established earlier in March. The price observed an increase of around 570% in the past 24 hours. The daily trading volume is $1,064,307 and the market capitalization stands at $18,709,878 which went up by 570%. The vision of the network is to revolutionize the travel industry through a universal stable coin payment system which has negligible costs and lightning fast speed.

    EXMO Coin (EXM) is another top performer. With a price level of $0.085, the price increased by 25% in the past 24 hours. The daily trading volume of the coin stands at $8,073,588 which also went up by around 50%. EXM is the utility token of one of the largest trading platforms of Eastern Europe by the name of EXMO.

    Storj (STORJ) – the open source cloud storage platform – has been in the headlines too. The cryptocurrency established its all-time high at a price level of $3.91 two days ago. The coin stands at a price of $2.71. The recent listing of Storj on Coinbase has been a factor in the price rally of the coin.

    Last but not the least, the top fifth top performer of the week is Metal (MTL). Although the coin is still a long way from hitting its all-time high, Metal is on an upward rally. The coin is priced at $3.76 which increased by 180% in the past 24 hours. The daily trading volume is at $4,206,599,851 which observed a phenomenal increase of 4200%. Metal is the native token used for Metal products and on the Metal ecosystem. Metal Pay – the peer to peer crypto payment platform – has filed to become a national bank in the US.

    Top Crypto Weekly Gainers

    UniSwap – the popular decentralized trading platform – has lost some of its luster as it makes to the top of the losers list in the weekly timeframe. Uniswap (UNI) is standing at a price level of $28 – which is not far from the earlier-established all-time high of $36. The daily trading volume of $555,049,589 has went up by 40%. The coin stands at a market ranking of 8 in terms of market cap. A Uniswap ad was sold for $525k as an NFT and although the platform is doing well, competition from PancakeSwap as derailed the upward trend of Uniswap.

    SushiSwap (SUSHI) stands at a price of $15. The cryptocurrency is on a downward trajectory ever since the establishment of its all-time high at $22 in early March. SushiSwap is a famous Automated Market Maker (AMM) and can be dubbed as an advanced version of Uniswap, employing additional features. The exchange is supposed to unlock $880 million in tokens but uncertainty marks the air as the network fears a massive dump.

    pNetwork (PNT) takes the third place in the weekly losers list. The cryptocurrency is priced at $2.51 with a daily trading volume of $30,022, 814. pNetwork is a cross-chain interoperability solution with the aim of increase the interaction between decentralized apps. The network also focuses on not just transfers of assets but NFTs and smart contracts. The network is currently in collaboration with ChainGuardians to create a bridge between Ethereum and Binance Smart Chain.

    IOTA coin, another top loser, stands at a price level of $1.54 with a daily trading volume of $145,782,733. The bulls of the cryptocurrency has been weak in the whole bull run as IOTA struggled to go upwards. It is a long way from its all-time high of around $5 established in 2018. The coin has launched on Binance Smart Chain which may propel it towards the upside.

    MahaDAO (MAHA) crypto is the fifth loser of the week. The cryptocurrency established it all-time high in early January and ever since then it has been on a downward trend. At the time of writing, MAHA sands at a price level of $7.95 with a daily trading volume of $1,849,898. MahaDAO is a decentralized non-depreciating algorithm token, the value of which is based on a basket of assets.

  • Storj (STORJ) coin: Bulls on parade

    Storj (STORJ) coin: Bulls on parade

    Storj (STORJ) coin has been trending because of its surge in performance. The coin started off the new year with a price level of $0.29 and is, at the time of writing, standing at $1.78. Storj coin achieved around 100% positive change in the past 24 hours while the daily trading volume shot up by a whopping 2400%. Currently, the Storj coin has a market rank of 121 with a capitalization of $453,288,827 which also saw an increase of around 100%. Traders are expecting the cryptocurrency to soon land in the top 20 coins.

    The market outlook for Storj (STORJ) coin is strongly bullish. The technical indicators are giving out a signal of strong buy. Out of the total indicators, eight stand at a neutral position while fifteen are giving out a buy indication with only three sell indications. In the yearly window, the Storj coin has observed a growth of around 1000% – which is a testament to the performance of the coin.

    At the current price level, Storj has broken all major resistance levels and has embarked on a steady upward trend. With the rest of the cryptocurrency in the grip of bears, Storj continues to show high bullish momentum.

    Technical analysis

    Traders are bullish on the cryptocurrency while suggesting long positions. A trader has set very optimistic price targets for Storj and believes the technical indicators are suggesting the coin is likely to reach the moon. Per the analysis, the EMA 50 and EMA 100 levels are acting as strong support for Storj. The Relative Strength Index (RSI), Moving Averages Convergence/Divergence (MACD) and the Stochastic RSI are all taking a bullish upturn – further fueling the bullish momentum of the coin.

    Storj coin has completed the first wave of a series, according to the trader, and is set to complete the subsequent waves as well. The Fibonacci level of 1.618 which lies parallel to the price level of $25 is the next price target for Storj while the wave series is set to complete at the fifth wave at the price level of $100.

    What caused the price boom?

    The recent surge in the price level of Storj cryptocurrency can be attributed to the listing of the coin on Coinbase. The leading cryptocurrency exchange has announced to list Storj coin along with Ankr and Curve. Coinbase Pro will start trading in the cryptocurrencies if liquidity conditions are met on the 25th of March.

    However, expectations of traders say that the uptrend is likely to continue in the coming days because of the potential of the technology that Storj offers.

    What is Storj?

    Storj is an open-source cloud storage platform which is completely decentralized as it is based on the Block chain technology. Through Storj anyone can sell space on their hard disks. Storj aims to compete with centralized giants like Amazon by providing storage space that is not susceptible to hacks and by offering minimum fees.