The cryptocurrency market has always been hyperactive. This past week, we have witnessed a humongous dip where Bitcoin went from $60K to $49K in just a few hours and caused liquidations of more than $400 million.
However, amidst all the turmoil, some projects managed to sustain the storm and make quick recoveries. We went through one of the more popular crypto aggregating platforms, CoinGecko, to bring you some of the top gainers after the dip.
Undeads Games
Undeads Games is a Web3 play-to-earn next-generation game platform where one experiences smooth gameplay while interacting with blockchain. Launched in the year 2022, however, you will be hard-pressed to believe it, since there are hundreds and thousands of games on desktop, web, and mobile under play-to-earn, play-to-own, and play-to-win mechanics on the Undeads Games platform.
The current week has seen Undeads Games up 72%, with price moving from $1.08 at a volume of 5.3M to a high of $2.6 at a trading volume of $6.5M. Presently at $1.5 with a volume of 1.4M, it is showing an astonishing 72% gain in the last week, off its current ATH by 40%, while also being off its ATL by 1080%.
It features two core tokens UDS, the governance token, and UGOLD, which is the in-game currency. Players use UDS for unlocking features, contributing to the DAO, and voting for game developments.
The company has also partnered with big names in the market such as Warner Bros. and Immutable X, thus extending further degrees of credibility it brings to both traditional and Web3 gaming spaces1.
Sui (SUI)
Sui has been in the limelight with its historically good performance. Sui is a layer-1 blockchain that makes transactions very fast with ease of deploying smart contracts. Recently, Sui has actually made an incredible upside move in its value, driven by some key catalysts.
Sui`s performance has been nothing but spectacular up 68% this week alone, moving from $0.634 at $279M volume to $1.10 at a current $930M volume. This puts it 55% below its ATH of $2.17 and 164% above its ATL.
Sui has been designed to execute a high transaction throughput, thus being one of the robust, decentralized application platforms. This is achieved by being built with Move programming language, which makes it modern, safe, and powerful.
Furthermore, With substantive capital inflows, Sui increasingly attracts a steady inflow of investors, which suggests it has the potential for growth and strength as a good investment in the cryptocurrency market.
Friend.tech (FRIEND)
Friend.tech is a decentralized social network that allows users to sell, trade, and monetize their social links. It was released in August 2023 and built on top of the layer 2 network of Coinbase.
Users can obtain or sell “keys” pinned to Twitter accounts, giving them access to private chat rooms or other exclusive content.
Its contract address is 0x0bd4887f7d41b35cd75dff9ffee2856106f86670.
The ever-growing platform has now helped in a quick revival amidst the cryptocurrency market turmoil. The platform became larger by 47% this past week, from being at $0.09 at a trading volume of 50k to $0.19 at a trading volume of 615k, hence gaining a sudden reputation for it.
Within the first 24 hours, over $8 million worth of transactions were cleared over the Friend.tech platform. Notwithstanding that, the event has come along with network outages and other issues flagged relating to origin and data privacy.
Saga
Saga is an innovative Layer-1 blockchain designed to redefine how developers create and deploy decentralized applications. Saga represents a unique way to solve challenges related to scalability and customization in its very concept of Chainlets at the core.
The cryptocurrency performed brilliant this week, surging 27% from $0.89 at volume $47M to $1.60 at current volume $172M, emerging as one of the top performers on CoinGecko this week.
The key Benefits of the Platform are vast Specifically, in sectors like gaming and entertainment, where performance and reliability are paramount, it has come in handy because of its ease and flexibility when launching blockchains.
In Addition, Saga runs a decentralized proof-of-stake model that provides strong security and low transaction costs to its network.
Curve DAO (CRV)
Curve DAO is a decentralized autonomous organization based on the Ethereum blockchain. At its core, it’s developed to provide an efficiently low-slippage swapping of stablecoins.
At $0.236 with a trading volume of $147M, CRV performed pretty well this week and now is at $0.30 with a trading volume of $350M.
Stableswap Algorithm
It’s an algorithm that optimizes the rates of exchanges between stablecoins in a way that makes the risk of impermanent loss for the liquidity providers very minimal.
The native token, CRV, comes with varieties of use cases within the system. It is an instrument of governance in the sense that holders can vote on proposals and changes affecting the protocol.
It is also an instrument for rewarding liquidity providers. In this dual nature, it ensures the sustenance of a robust and engaged community, which then becomes the driver of perpetual growth and innovation on the platform.
Stableswap Algorithm
It’s an algorithm that optimizes the rates of exchanges between stablecoins in a way that makes the risk of impermanent loss for the liquidity providers very minimal.
The native token, CRV, comes with varieties of use cases within the system. It is an instrument of governance in the sense that holders can vote on proposals and changes affecting the protocol.
It is also an instrument for rewarding liquidity providers. In this dual nature, it ensures the sustenance of a robust and engaged community, which then becomes the driver of perpetual growth and innovation on the platform.
Conclusion
Even though the cryptocurrency market has been in a mess these past days, some projects came out especially resilient and showed good growth. Not only did they weather the storm, but these projects underlined the dynamism and strength of cryptocurrency space, promising opportunities for investors and enthusiasts.
