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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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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.

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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.

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

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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.

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. Follow Olumide on Twitter @tokunboadesina or email [email protected] He is a Member of the Chartered Financial Analyst Society.

8 Comments

8 Comments

  1. Ray

    January 9, 2021 at 12:57 pm

    If you want the world view to change… look at Celsius.Network and look at HEX.com both assets are 2020s top 1 and 2 assests, and you know what, they pay interest on top of price appreciation.

  2. Daniel Najombong

    January 9, 2021 at 8:45 pm

    How do I buy and store other coins other than bitcoin?

  3. Anonymous

    January 10, 2021 at 3:45 am

    Dear Olu,

    Can you kindly put me through on how to invest in or buy Bitcoin black and a y other viable coin in the market.

    Thanks

  4. Patrick Ephraim

    January 10, 2021 at 9:10 am

    Are this things really true?

  5. Paulinus

    January 10, 2021 at 1:18 pm

    Hello Mr Olu i salute you,
    please i been following this column about Cryptos and really it amazed me how it goes, formaly i thought is not real, but eventually i came to realise that as long as is been published at our official dailies such as Nairametric and other dallies and how I have related with one person who are in to it, that’s how i got interested about it. So please could you recommend to me the best cryptos one can invest, and how can one invest is through stock brokers or onlines or direct to the banks, and lastly what’s the minimum amount required for the investment, i mean the lowest man can start with thanks.

  6. Abah Sunday

    January 10, 2021 at 2:06 pm

    How do I get buy bitcoins to buy and trade with it as well. And is all of these real. Thanks

  7. Sewuese

    January 10, 2021 at 4:27 pm

    Hi Olu,
    I must commend you on the updates you leave here.
    Are there other platforms for buying cryptocurrencies other than luno in Nigeria?
    I am an investor and the cryptos you have mentioned here are not available on luno.
    I would want a place where I can purchase directly other than using up my BTC. And I do not have dollars either
    Thanks

  8. Oribhabor Charity

    January 10, 2021 at 9:14 pm

    I’m interested in investing of bitcoin, can you tell me more and how to go about it.

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Cryptocurrency

Ethereum held on Crypto exchanges might run out of supply in 2 days

A crypto expert has released key details on why Ether coins on crypto exchanges could be all gone within 48 hours.

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Ethereum, cryptocurrency, Crypto: Large investors transfer over 700,000 Ethers

The amount of Ethers held on Crypto exchanges could go into extinction amid the high buying pressure seen in recent days.

Alex Saunders, a crypto expert, via Twitter, released key details on why Ether coins on Crypto exchanges could be all gone within 48 hours amid high buying pressure.

READ: Crypto: Financial market that never sleeps, or is under any central authority

  • “Crypto Exchanges could be out of Ether within 48 hours. Demand has sky rocketed. Exchange reserves fell 20% from 10 million to 8 million in the last few hours. With targets of $5k, $10k & $20k long term, I doubt many HODLers will sell their ETH in the $1-2k range”

READ: Why Ethereum could make you rich

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READ: 5 rules that Dangote has Adopted from The 48 Laws of Power

Ether reserves held on crypto exchanges have not been this low for about two and a half years ago. At press time, just 7% of Ether’s circulating supply is presently held on Crypto exchanges.

Meanwhile, Crypto investors are buying into the world’s acclaimed utility crypto, over owning a stake in Ether amid the boom seen recently in Crypto markets. Although it has not been strange to many crypto experts in the crypto-verse, seeing Ethereum demand at a record high.

READ: Hackers, expose crypto wallets worth $150 million at Kucoin

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Recent data obtained from Glassnode, a crypto analytic firm revealed a number of  Ethereum based addresses holding 0.01+ coins just reached an all-time high of 10,997,708.

The previous all-time high of 10,997,003 was observed earlier today.

Metric description: The number of unique addresses holding at least 0.01 coins. Only Externally Owned Addresses (EOAs) are counted, contracts are excluded.

READ: U.S Central Bank leader says no rush into crypto dollar

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What you should know

  • At the time of drafting this report, Ether traded at $1,219.35 with a daily trading volume of $34.1 billion. Ethereum is up 11.13% for the day. The world’s leading utility has a market value of $139.3 Billion.
  • Breaking the $1,300 resistance level represents a dramatic shift for Ethereum, which stood at around the $112 price level in March 2020 following the market carnage that occurred as a result of the ravaging COVID-19 virus.
  • Ethereum is a decentralized system, fully independent, and is not under anybody’s authority. It has no pivotal point, and its platform is connected to thousands of its users through their computing system around the world, which means it’s almost impossible for Ethereum to go offline.

READ: WhatsApp to share users’ personal information with Facebook

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Cryptocurrency

U.S Central Bank leader says no rush into crypto dollar

Jerome Powell recently spoke on why the U.S central bank had no reason to rush into central bank digital currencies.

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The world’s most powerful monetary policy chief, Jerome Powell, recently spoke on why the U.S central bank had no reason to rush into central bank digital currencies.

In a YouTube webinar organised by Yahoo Finance and conducted by highly revered economist, Markus Brunnermeier, the U.S Fed Reserve Chairman stated that the US central bank desires to get it right and hence doesn’t feel an urge or need to be the first.

READ: Central banks digital currencies pose a threat against the U.S dollar

“Since we are the world’s reserve currency, we actually think we need to get this right, and we don’t feel an urge or need to be first,” he said. “We effectively already have a first-mover advantage, because we’re the reserve currency.”

Powell also revealed that stablecoins were of high-level priority.

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READ: Crypto usage absolutely certain – Standard Chartered

“We’ve been very focused… on potential regulatory answers for global stablecoins, in particular,” said Powell in response to a question about CBDCs, or central bank digital currencies.

“So that’s been a high-level focus, and that will continue to be a high-level focus because they could become systemically important overnight and we don’t begin to have, you know, our arms around the potential risks and how to manage those risks, and the public will expect we do and has every right to expect that… It’s a very high priority.”

READ: Gold prices up on U.S Central Bank’s will to keep interest rates low

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Recall many months ago, the world’s largest economy considered the use of digital dollars, following slow COVID-19 stimulus payments to its citizens. The U.S Congress recently heard testimonies on the usage of digital dollars to facilitate the U.S’ legacy financial infrastructure.

Just yesterday, America’s Congressional Fintech Task Force examined Federation Accounts and the use of digital dollars in expanding financial reach in the United States.

READ: Naira gains at NAFEX window as CBN squashes early devaluation thoughts

What you need to know about Digital Dollar: The U.S government considered a framework in creating a U.S. central bank digital currency, which would be mined through the blockchain protocol, transferred between users, and recorded in a public ledger.

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  • The digital dollars would be stored in a distributed database via the internet, on an electronic computer database, within a stored-value card or virtual files.

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Cryptocurrency

Betting on Bitcoin is better than investing in PayPal, Google, Facebook, Amazon

MicroStrategy CEO has disclosed why betting with Bitcoin is much better than investing in leading technology brands.

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BTC Whales, Bitcoin is scarce, entities, individuals hold for long term, How Cryptocurrency-Based Companies Like Patricia are Shaping the Digital Currency Market in Nigeria, How Bitcoin Comes in Handy in Moments of Uncertainty

Michael Saylor, CEO of MicroStrategy, in a recent Youtube interview with Chris Jaszczynski of MMCrypto, revealed why betting with Bitcoin is much better than investing in leading technology brands.

Saylor has been very vocal about Bitcoin and its potentials since his company gained exposure late last year. It is worth stating that MicroStrategy was the first public-listed company to purchase Bitcoin as part of its treasury policy.

READ: $100 billion wiped in crypto market amid profit taking

  • “I’ve invested in everything. I was an early investor in Apple, Facebook, Amazon, Google, OpenTable, eBay, and PayPal. I made huge amounts of money. I made 10x, 20x my money in those things, and let me tell you, none of them looks as good as this looks to me.”

The basis for such bias is based on the record inflows of funds comprising of “cash, debt, equities, [and] commercial real estate indices,” that are expected to shift at one point into Bitcoin.

READ: Bitcoin hits $41,000 and Nigeria’s first micro-investing platform, Trove, adds cryptocurrency trading

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The highly revered Chief Executive Officer of America’s leading business intelligence company further added that $300-$400 trillion could flow into the world’s flagship crypto.

This is nearly 60 times the prediction of $600 billion that was given by the world’s most valuable bank, JP Morgan Chase.

READ: Google, Facebook, Twitter stocks drop, investors ponder if big techs have become too powerful

What you should know

  • MicroStrategy is listed on an American Stock exchange and has deployed about $250 million into Bitcoin in August and then added $175 million a month after.
  • These two investments represented the first and second time a publicly-traded corporation bought Bitcoin for investment purposes.
  • MicroStrategy increased its buying pressure subsequently by investing an additional $50 million and even going as far as to raise $650 million in the debt market.
  • By the end of 2020, MicroStrategy had confirmed it had spent $1.125 billion to purchase 70,470 bitcoin, implying a cost basis of $15,964 per Bitcoin.

READ: Bitcoin jumpstarts strongly, daily trading volume hits $25 billion

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