Market Recap on the Top coins for the Week

The digital currency ecosystem is wriggling out of the mixed performances exhibited in the past week as it prepares to kickstart the new week on a bullish note. While in the past week many altcoins recorded huge losses, three digital currencies including XRP, Lido DAO (LDO) and Terra Classic (LUNC) recorded impressive growth in the trailing 7-day period.

Here is a recap of these three tokens for the past week;

XRP 

XRP impressed many investors across the top and bottom line with its price soaring to a high of $0.54 after printing a total of 13% within this time under review. After many weeks of ranging motion, XRP finally flipped the $0.5 resistance level and turned it into a formidable support.

XRP is still the subject of a major lawsuit between the United States Securities and Exchange Commission (SEC) and its associated blockchain payments firm, Ripple Labs Inc. Many experts are convinced that the end to the lawsuit will have a major bearing on the future price of the cryptocurrency.

Lido DAO

Lido DAO remains the most dominant Liquid Staking Derivatives (LSD) platform in the Decentralized Finance (DeFi) ecosystem. Riding on its unique offering to compound its investor’s earnings, Lido DAO has gained massive popularity, a trend that favored its native token LDO.

LDO is currently changing hands at a price of $2.29 with a cumulative 13% growth in the past week. While LDO dropped to a low of $2.04 for the week, its popularity helped prop it back to the high of $2.36 in the early hours of Sunday.

Terra Classic (LUNC)

Terra Classic is arguably the best performer for the week with its price up by 26.24% over the past week to $ 0.000110. The bump in the token’s price stems from the massive upsurge it picked up over the past 24 hours where it has added more than 30% to its valuation.

LUNC is exploring a number of impressive initiatives to help revive the price of the token which plunged when UST stablecoin got depegged around this time last year. One of these initiatives is the implementation of a 1.2% burn tax to help prop the token back to $1.

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.