Winners of Crypto Recovery from July 18 to July 24th

Winners of Crypto Recovery from July 18 to July 24th

The digital currency ecosystem has continued to show enormous resilience as the broader financial world anticipates the next possible interest rate hike from the US Fed Reserve this week.

With the combined crypto market cap still trading above the $1 trillion benchmark, many believe the worst has passed for the nascent industry. However, the ecosystem was marked by periods of ups and downs in the past week, and amidst the upheavals, Fantom (FTM), Bitcoin Gold (BTG), Trust Wallet Token (TWT), and (CHO) showed unique resilience across the board. These tokens were picked based on their percentage gain from 18th July to July 24th per data on CoinCodex.

Here is a brief on how they performed;

Fantom (FTM)

Fantom is a directed acyclic graph (DAG) smart contract platform providing decentralized finance (DeFi) services to developers using its own bespoke consensus algorithm. With its core technology different from a typical blockchain, Fantom allows more scalable and cheaper transactions as a layer-1 protocol.

This feature has particularly made it more endearing to developers who are now helping to build its ecosystem. FTM, the protocol's native coin, is changing hands at $ 0.300503, up 15.50% in the days under review. While it is about 90% away from its All-Time High (ATH) of $3.48 attained months ago, FTM is arguably on track for a massive rebound in the short to mid-term. (CHO) is an ecosystem that seeks to bring the benefits of DeFi and the reliance/stability of CeFi into MetaFi to a new crop of Web3.0 users. The basis of is an in-house DeFi ecosystem called Charism with a number of earn products that offer competitive benefits across to its users.

CHO has grown marginally over the past week, recording a 1.65% upsurge to $0.9729. Despite this slight growth as compared with the others, CHO comes off as the most consistent token of these profiled coins as it is up by 70.85% in the Year-to-Date (YTD) period per data from CoinCodex.

Trust Wallet Token (TWT)

Trust Wallet Token is a simple BEP-20 utility token that provides a range of benefits and incentives to Trust Wallet users. Branded as a mobile cryptocurrency wallet that supports dozens of popular native assets, in addition to popular tokens on the Ethereum, Binance, and TRON blockchains, the wallet is a core component of today's DeFi world.

With millions of users, the TWT token has continued to gain increased relevance by the day. This accounts for the token's performance over the past week where it has grown by 14.85% to $0.9444. Unlike other coins profiled, TWT is just about 40% away from its ATH and its chances of touching discovery territory in the coming weeks if the growth is sustained are very high.

Bitcoin Gold (BTG)

The Bitcoin Gold coin is designed to serve as a viable alternative to Bitcoin (BTC). As a result, the BTG network aims to combine the security and sturdiness of the Bitcoin blockchain and its characteristics with the opportunity for experimentation and development.

Ranked as the oldest of the profiled tokens, Bitcoin Gold has maintained its relevance and has grown by 12.17% to $20.95 in the time under review.

Key Takeaways

The blockchain ecosystem has recorded a mix of both downtrends and uptrends in recent times, with the utility and niche positioning of a defined set of coins/tokens. The four listed above have been quite resilient and with the growth inked within the time reviewed, chances are that they can chart a more ambitious growth in the mid-to long term.

Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.

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