The cryptocurrency market experienced a growth during the last week, after several months of bearish trend. At the middle of last week the price of Bitcoin went up by more than 1000 dollars in just a couple of hours.
The price of Ethereum went up by more than 100 dollars and its price is currently is around 515 dollars per coin, according to CoinMarketCap. The total market capitalization also went up with the growth of the prices and it went up by more than 50 billion dollars in the last three days.
Following the main cryptocurrencies, the rest of the altcoins also went up. All the cryptocurrencies on this list went up the next day after the price of Bitcoin rose. In the meantime, the prices of some of them were slightly corrected afterwards.
The fifth place is occupied by Loopring, a decentralized protocol that offers an automatic system of exchange through the cryptocurrency exchanges. With Loopspring, any blockchain that supports smart contracts can be interconnected through this platform.
In the last week, the price of Loopring increased by 63%, going from 39 to 64 dollar cents per coin. It reached its maximum price on April 13th, when the price went up to 0.67 dollars. The market capitalization of Loopring increased by almost 150 million dollars and reached 366.4 million dollars.
Besides the general increase, the price of Loopring was also impulsed by UpCoin, after the cryptocurrency exchange integrated it into its platform.
Just like Loopring, Wanchain’s goal is to create a financial structure that would use smart contracts and serve as a mediator in the exchange of tokens from different blockchain networks. In the previous week, the price of Wanchain went up by 65%, with its price going up from 3.71 dollars to 6.14 dollars per coin. The highest price of Wanchain last week was 6.85 dollars and its current price is 5.73 dollars. According to CoinMarketCap, the market capitalization of Wanchain rose from 392 million dollars to over 600 million dollars at the moment. Just like in the case of Loopring, the price of Wanchain was impulsed by the decision of KuCoin to integrate this cryptocurrency into its cryptocurrency exchange platform.
Bytom is focused on the creation of exchange platforms, just like Wanchain and Loopring. The particularity of Bytom is that it offers the developers the possibility to create applications for exchange by using Bytom’s blockchain network.
In the last week, the price of Bytom increased by 70%. Between April 8th and 13th, the price of Bytom went up from 0.522 dollars to 1.04 dollars and was later corrected with the current price being 0.85 dollars per coin. On April 13th, the market capitalization of Bytom surpassed one billion dollars, but it quickly descended and its current value is almost 840 million dollars.
Several events contributed to the rise of the price of Bytom. On one hand, it was announced that Bytom was one of the projects that would be sponsored by the Blockchain Industrial Park created in China, which conveys a message to the investors about the seriousness of the project. On the other hand, representatives from Bytom held a conference at Harvard University where they talked about the project and presented advances regarding their main blockchain network that would be launched in the near future.
The second cryptocurrency on the top five list is Golem, a project whose goal is to create a global decentralized network for renting storage space. The users who make their storage space available for rent are rewarded in GNT tokens.
During the last week, the price of Golem rose by 105% and in the period between April 8th and 13th, its price went up by 260% to 0.73 dollars per coin. The price of the cryptocurrency was later corrected and lost almost 50% of its value. The current price is 0.40 dollars per coin, according to CoinMarketCap. The market capitalization of Golem is around 340 million dollars at the moment.
The price of Golem was impulsed when the development team launched the beta version of its main blockchain network.
Mithril is on the position number one this week. This platform allows the users to mine its token by using their social network accounts. In the last week, the price of Mithril went up by 230%, going from 0.195 dollars to 0.644 dollars. The maximum value of 0.759 dollars was reached on April 13th. The current price of Mithril is 0.665 dollars per coin and its market capitalization is around 202 million dollars.
The price of Mithril was impulsed when Bithumb, one of the largest cryptocurrency exchanges in the world, decided to list it on its exchange platform. Moreover, an article was published praising the blockchain infrastructure of this project, which could have attracted more investors.
The cryptocurrency market showed a positive movement during the last week, after several months of negative movements. However, since there is no obvious and clear reason to justify the growth of the prices of the main cryptocurrencies such as Bitcoin and Ethereum, it is still unknown whether the growth will continue or the prices will drop again.