Biggest Cryptocurrency Growths Since the Crash
Tether is one of those cryptocurrencies that have eluded the effects of the crash. Its prices remained steady since Tuesday, after reaching an all-time high of $1.07 at 3 am on Wednesday.
As the top crypto tokens were losing thousands of dollars, Tether saw a rise of 2.9% on Tuesday on its opening price of $1.01. Tether’s market cap was even more remarkable, in that same day gaining more than $100 million in 15 minutes, according to CoinMarketCap.
While looking at its long-term performances, the token rarely leaves the $1 mark, experiencing minor shifts in value through 2017.
Tether is a cryptocurrency that is protected against volatility by being backed up by actual fiat currencies. “Tether is a token backed by actual fiat currency assets, including USD, Euros and, soon, Japanese Yen”, said the Tether team on its website. It was originally based on the bitcoin blockchain system, but it made the switch to Litecoin in June last year.
NEO, considered the Chinese Ethereum, was also a crypto asset that dodged the market plunge. Ranked as the eight-most- valued cryptocurrency, its prices have remain relatively steady. According to reports and figures from analytic websites, NEO had a rise of 9% in the past 24 hours and a whopping 52% increase over the last week. The token reached a record high of $195 just a few hours ago during Asian trading. NEO’s market cap is currently situated around $10.7 billion, with $780 traded in the last 24 hours.
Stellar is a technology that lets individuals, companies and financial institutions to make payments between directly between them with ease. NEM is a platform built on a blockchain that powers what they call the Smart Asset System, which is intended to be an open and customizable solution for a number of use cases.
Cardano is a Proof of Stake cryptocurrency that can be sued to send and receive digital funds.
Bitcoin, Ripple and Ethereum have also seen a small increase in value, although they have a lot to recover from their plunge. Ethereum remains well below the $1000 mark, and Ripple is still down 49% for the week, having the worst fall out of all cryptocurrencies.
There have been lots of forecasts given by crypto analysts regarding which crypto asset will recover, which will further crash and so forth, but nobody really knows what to expect anymore from this volatile market.