While Bitcoin is trying to rise above $55,000, Ethereum is trying not to lose the critical level of $4,000. Binance Coin, on the other hand, fell below $600. While the general crypto money market continues to suffer from weekly declines, 3 altcoins experienced the highest rise in the top 100 with market capitalization. Cryptocoin. com we will be reviewing them…
The most valuable altcoin projects: BAT, AMP, LUNA
Sunday’s profit star was the Basic Attention Token (BAT). BAT was up 19.47 percent. So, why did BAT rise while BTC and major altcoins fell? According to experts, crypto traders flocked to BAT due to its relatively low positive correlation with major cryptos. According to Cryptowatch, which provides crypto data, the 30-day correlation coefficient between Basic Attention Token and Bitcoin was 0.24 and 0.27 with Ethereum. This somewhat explains why BAT ignored this week’s market-wide downtrend.
The second most profitable altcoin was Amp (AMP). Amp is defined as a token that offers instant, verifiable collateral for transferring value. Behind the rise in Amp’s price is mostly the listing of Binance, the largest cryptocurrency exchange by trading volume. Binance has also recently published a research article on this coin.
Finally, Terra (LUNA) rose as much as 11 percent. Terra is a Blockchain protocol that uses fiat-pegged stablecoins to power price stable global payment systems. At the time of writing, it remains unclear what factors were behind Terra’s rise.
