Altcoins giving investors weekly returns of at least 100%
- 6th May 2021
- Posted by: Hakeem
- Category: Crypto
The world’s most popular crypto, Bitcoin is presently trading above the $55,000 price levels amid profit-taking seen across market spectrums that currently leaves the world’s flagship crypto with weekly gains of about just 3.71%.
Still, 4 cryptos are outperforming Bitcoin by a long distance, having registered weekly gains of at least more than 100% at the time of drafting this report.
The leader of the pack is Telcoin which rallied by 291% in the last 7 days. The fast-rising crypto is an Ethereum-based decentralized crypto created about 4 years ago in Singapore to be the bridge between blockchain, cryptos, and the telecom industry.
The crypto project was created solely to partner with leading American Telcom firms in curbing the obstacle that is prevalent between billing platforms and mobile money, by providing users with very fast, cheap remittances fees when compared to mobile money platforms.
The crypto asset is an ERC-20 token meaning it thrives on the Ethereum Blockchain.
Ethereum Classic comes in second with a weekly gain of 166%. The five-year-old crypto is a hard fork of Ethereum, solely designed as a smart contract network, with the capability of supporting decentralized applications. Its native token is ETC.
The crypto asset gained its relevance for preserving the integrity of the existing Ethereum blockchain after a major hacking event that led to millions of Ethers stolen.
OKB comes in third on the account that it rallied by 117% over the past week, OKB is a fast-rising altcoin that operates on the Ethereum blockchain. The crypto asset currently has a supply of 300,000,000 with 60,000,000 in circulation.
The utility crypto is issued by the OK Blockchain Foundation with the major objective of connecting prospective crypto projects to OKEx users as well as investors.
The fourth is Dogecoin with a weekly gain of 102% at press time. The popular crypto asset facilitates peer-to-peer digital transactions. This means you can send money online with much ease. It is usually referred to as “the internet currency.”
It is different from BTC’s proof-of-work protocol in many ways, one of which is the Scrypt technology. The fast-growing altcoin also has a block period of 1 minute, and the total supply is unlimited, meaning that there is no limit to the amount of Dogecoin that can be mined.