Crypto Market Review: Top 3 Trending Coins on CoinGecko

CoinGecko, one of the leading crypto listing platforms in the world, usually keeps track of the most searched cryptocurrencies on its website. The trending crypto-list is usually an indicator of increased investor interest in a particular coin and could even be used to gauge public sentiment towards the coin.

Below, we'll look at some of the projects whose names have been typed the most in the CoinGecko search box in the last week.

1. Choise.com (CHO)

Market Cap: $28,082,885

Choise.com (CHO) prides itself on being a user-friendly platform that enables institutional and retail investors to more easily deploy their crypto assets into the fast-growing yield and earn markets through a curated selection of products.

It's been a good few months for Choise.com's native token. Just three months ago, CHO was priced at $0.392223, but since then, it has hit an all-time high of $1.38.

According to crypto data aggregator CryptoDiffer, CHO ranked first on Thursday's CoinGecko Trending crypto list. This is probably a result of the token's remarkable performance, even in a depressed market. Investors seem to be gradually gaining interest in Choise.com as the project progresses towards full implementation of its innovative model, launching new products as the need for them arises. Its model of integrating CeFi & DeFi solves many of the existing problems in the crypto market by introducing revenue-generating products.

Data provided by Cryptorank indicates that CHO is ranked 14th among tokens launched in 2022 in terms of return on investment (ROI). According to the data, CHO recently hit an all-time high ROI of 6.89x on investment.

In the last week, CHO fluctuated between a low of $0.9606 and a high of $1.12. At the time of writing, CHO was selling at $1.04, which is a 7% improvement from the previous 24 hours. In that same period, the token had a trading volume of $5,619,964.

2. Ethereum Classic (ETC)

Market Cap: $4,635,468,756

Ethereum Classic (ETC) has also been quite popular on CoinGecko in the past week. The project is a hard fork of Ethereum (ETH) that mainly functions as a smart contract network that hosts and supports decentralised apps (DApps).

ETC came into being after participants in the original Ethereum network disagreed over whether to revert the blockchain to counter the theft of 3.6 million ETH. Those that chose not to revert the chain forked off as ETC and have kept it as Ethereum originally was.

ETC's global development community has also been vocal about its intention to keep the much-maligned proof-of-work (PoW) consensus mechanism. But ironically, the buzz generated by Ethereum's transition to the more energy-efficient proof-of-stake (PoS) system might have partly pushed ETC up the CoinGecko trend list.

At the time of writing, ETC was priced at $33.92, which, while a 9.37% drop from earlier levels, was still an improvement over its 7-day low of $33.15. In the last week, ETC also recorded a high of $40.22, thanks partly to heightened excitement surrounding the Ethereum Merge. But the searches seem to have fizzled out, along with the price of ETC, when it became clear that the legacy chain was firmly committed to PoW.

3. Lido DAO (LDO)

Market Cap: $561,002,653

The past week's third most trending project on CoinGecko was Lido DAO (LDO). Lido is a staking solution for the Ethereum network that allows users to stake ETH and participate in on-chain activities without requiring minimum deposits.

Lido has not only launched on several L2 protocols; it is also fully integrated with Ethereum 2.0. The token seems to have benefited from this integration as it made steady gains in the lead-up to the Merge.

Lido DAO's recent blog post stating the Merge could potentially result in a higher annual percentage rate/staking yield for active users of the protocol might have been the reason behind its sudden popularity on CoinGecko as investors rushed to place it on their watchlists.

In the last week, LDO went from a low of $1.66 to a high of $2.16. At the time of writing, the token was going for $1.79 and had a 24-hour trading volume of $115 million.