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Cryptocurrency

List of Cryptos outperforming Bitcoin, with weekly gains of over 100%

4 cryptos have performed better than Bitcoin in 2021 alone, having registered weekly gains of more than 100%.

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4 cryptos gain over 400% in a month, far outperforming Bitcoin

The world’s flagship crypto, Bitcoin, is presently on a strong bullish run in regards to breaching another all-time high of $42,000 before pulling back around $40,200 as weekly gains of just 37%.

Still, 4 cryptos have surpassed the flagship crypto in 2021 alone, having registered weekly gains of more than 100% at the time of drafting this report.

READ: Crypto market breaks past $1 trillion for the 1st time in history

The leader of the pack is Nano which rallied by 276% in the last 7 days.

The crypto asset is created for enabling quick transactions with no fees and little hardware needed. It has a market value of about $580 million.

READ: XRP drops 14% over lawsuit from U.S Securities and Exchange Commission

Loopring comes in second with a weekly gain of 130%. Loopring is a protocol built on Ethereum, and created to power a fast and cheap decentralized exchange. Loopring’s market value is about $485 million.

Stellar comes in third on the account that it rallied by 125% over the past week,. Stellar is an open platform that permits its users’ funds transferred and stored.

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Sigma Pensions

READ: Bitcoin, Cardano, Polkadot, Ethereum suffer heavy losses over proposed regulations

It began operation about 6 years ago, with the major objective being to boost financial inclusion globally by reaching the world’s unbanked, prevalent in many parts of Africa and minor Asia. It, however, updated such objectives by focusing on assisting financial institutions to connect with each other through blockchain technology. Stellar has a market value of $6.5 billion.

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READ: Ethereum defying law of gravity surges past $1,050

The fourth is Status with a weekly gain of 101% at press time, the crypto asset has an operating system for mobile appliances. Its functionality includes allowing access to the decentralized applications on Ethereum. Its market value is a little over $214 million.

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Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Message Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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    Cryptocurrency

    Coinbase debuts on Nasdaq at around $100 billion valuation

    Coinbase resumed trading on the Nasdaq Composite Index today under the ticker “COIN”.

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    Coinbase, a Cryptocurrency exchange made its highly anticipated debut on Nasdaq on Wednesday, April 14, 2021, becoming the first company devoted entirely to cryptocurrency to enter the US stock exchange.

    The IPO of Coinbase Global today was a big turning point for the cryptocurrency business. It had a rousing debut on Wall Street with the digital currency exchange’s stock growing as high as $429, giving it a market cap of $100 billion for a brief period of time.

    According to analysts, retail trading accounts for 90% of Coinbase’s income, with the majority of trading taking place in the United States and focusing mainly on the two main cryptos: Bitcoin and ETHUSD. Dubbed the most talked-about IPO on Wall Street, Coinbase resumed trading on the Nasdaq Composite Index today under the ticker “COIN.”

    What this means

    Given Coinbase’s reception, Crypto optimists insist Bitcoin will not go anywhere in the near future, but will instead become more mainstream. They see the Bitcoin craze as the “start of a new era” in the digital currency world, rather than a passing phase.

    Due to Bitcoin’s young and unpredictable existence, investors and public corporations are also wary of investing in it. However, as long as the currency’s popularity is sustained, the bubble hypothesis can be debunked as control and acceptance of the currency spreads further down the line, according to analysts.

    It is important to note that Coinbase has a strong correlation with Bitcoin and as it benefits from its bullish run, it can also be hit by a downturn in the market.

    What you should know

    • Coinbase has become popular amongst cryptocurrency optimists since being founded in 2012, for providing an easier way to exchange shares of digital currencies.
    • Coinbase announced last week that its first-quarter sales jumped 847% to $1.8 billion and that it currently has 56 million confirmed customers.
    • Coinbase is now one of the largest publicly traded firms in the United States, with a market cap of more than $100 billion.
    • Only 83 companies in the S&P 500 index have a market value greater than $100 billion.
    • The combined market value of Nasdaq Inc., which operates the Nasdaq Stock Market, and Intercontinental Exchange, which owns the New York Stock Exchange, is greater than Coinbase’s.

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    Cryptocurrency

    Dogecoin hits a new milestone, surges by 54%

    DOGE experienced a strong 54% rally and established a new all-time high of $0.1161.

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    The price of Dogecoin, the fast-rising crypto popularly referred to as DOGE experienced a strong 54% rally and established a new all-time high of $0.1161 amid strong buying pressures prevalent in the Cryptoverse.

    While crypto pundits can’t clearly give the rationality behind the recent surge of Dogecoin, its debut as one of the most popular crypto on social media, with top celebrities including Elon Musk and Mark Cuban giving the crypto endless support, makes a strong case.

    READ: Sacramento Kings becomes first sports team to offer salary option in Bitcoin

    At the time of writing this report, Dogecoin was trading at $0.113824 with a daily trading volume of $11.3 billion. Dogecoin is up 54.49% for the day.

    Dallas Mavericks owner, Mark Cuban is predicting the price of Dogecoin (DOGE) will eventually hit $1, after few days of accepting the crypto as a form of payment.

    Dogecoin is a type of digital coin that is decentralized and facilitates peer-to-peer digital transactions. This means you can send money online with much ease. It is usually referred to as “the internet currency.”

    READ: 3 Cryptos set to explode high

    It is different from BTC’s proof-of-work protocol in many ways, one of which is the Scrypt technology. The fast-growing altcoin also has a block period of 1 minute, and the total supply is unlimited, meaning that there is no limit to the amount of Dogecoin that can be mined.

    Sigma Pensions

    “The recent rise of dogecoin, a meme coin, should serve as a reminder to everyone in the space that the most popular use case for crypto is still pure speculation,” said Anil Lulla, a former analyst at Bloomberg and co-founder of the cryptocurrency research firm, Delphi Digital.

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