The cryptocurrency market is dyed red, but it’s not all bad news.
That is, some tokens and virtual currencies are within the top 100 by market capitalization. They resist price declines and generate significant profits every week. These are telcoin (TEL), starknet (STRK), zcash (ZEC), myx Finance (MYX), and dash (DASH), as shown in the following image.
This week’s star is definitely Telcoin. The Ethereum token, designed to integrate financial services such as money transfers and mobile payments into the infrastructure of telephone operators, posted a 110% increase amid a red tide in the market.
Over the past 7 days, TEL’s price has increased from $0.0030 to $0.0063, as shown in the chart below.
According to a report by CriptoNoticias, the reason behind this impressive performance is that the project has won regulatory approval to establish the first digital asset custodian in the United States.
This license allows Telcoin Digital Asset Bank to operate as a domestic regulated bankcan accept cryptocurrency deposits, make loans backed by digital assets, and connect to the Federal Reserve’s payments infrastructure.
Meanwhile, Telcoin announced the launch of eUSD, a stablecoin backed by dollars and short-term government bonds. It will be the first stablecoin issued by a US bank and registered directly on the network, linking traditional bank accounts and digital assets.
In second place is STRK, the native token of Ethereum’s Layer 2 (L2) network. Over the past 7 days, the asset has increased from $0.14 to $0.24, which corresponds to an increase of 71.4%.
The token has shown strong performance after enabling the staking of tokenized Bitcoins on the network. Users can participate using wrapped versions of BTC such as WBTC, LBTC, tBTC, and SolvBTC, contributing to the security of the network and receiving rewards along with validators, with the aim of increasing the decentralization of the ecosystem.
The novelty is The team behind Starknet announces strategic partnership with Anchorage Digitalthe only federally chartered cryptocurrency bank in the United States. This partnership will enable institutional investors to securely stake BTC and STRK, strengthening the network and increasing decentralization.
What about ZEC, MYX and DASH cryptocurrencies and tokens?
In third place stands out the presence of zcash, a cryptocurrency with privacy fundamentals. In the past 7 days, the price has increased from $456 to $601, which corresponds to an increase of 31.75%.
This price increase comes after Leap Therapeutics (now called Cypherpunk Technologies) announced a change in strategy. Allocate $50 million to purchase over 203,000 ZECsaims to accumulate up to 5% of the total supply of cryptocurrencies. The company plans to raise funds for future acquisitions through the sale of stock and debt.
Fourth place is MYX, the native token of decentralized exchange (DEX) MYX Finance. The asset’s price went from $2.49 to $3, representing an increase of 20.5%.
Part of the reason for the price increase is Recent Myx Finance and Chainlink integrationa decentralized oracle network.
This update incorporates Chainlink Data Standard and Data Streams, providing access to real-time data with low latency for the MYX perpetual market. Improvements in the technical infrastructure coincided with an increase in protocol activity, which was reflected in increased revenues and fees, which ultimately affected the value of the token.
Finally, we have Dash, a cryptocurrency focused on user privacy. In the past 7 days, the price has increased from $64.55 to $75.50, which represents a 17% increase.
DASH’s rise is explained by renewed market interest in privacy coins following ZEC’s recent strong performance. The increased attention has also increased the demand for DASH.
According to on-chain data provider Artemis, The privacy funding coins sector has soared 372% in the past 12 months.
(Tag translation) Altcoin
