Following the painful fall of the market, a small thaw came, as it is commonly called in the crypto community. Bitcoin is still showing minus 11% for the week, but has not dropped a penny in price over the past 24 hours. At the same time, there are coins that over the last 24 hours have shown not only growth, but very good performance compared to the rest of the market. We present to you a list of cryptocurrencies that survived the market collapse and showed growth.
The top five cryptocurrencies that have risen in price over the past day are SUI. This is the native token of the project of the same name – a blockchain based on the Proof-of-Stake (PoS) algorithm for running high-performance decentralized applications. The project is positioned as a network with high throughput, fast, cheap transactions and a user-friendly interface. Over the past 24 hours, the coin has added 5% to its price and is now trading at $0.65. By the way, there is a curious story connected with the platform: Sui was considered in the crypto community to be one of the main candidates for the distribution of tokens through an airdrop, following the example of the sensational projects Optimism or Arbitrum, but Mysten Labs co-founder Adeniy Abiodun later warned that there would be no free distribution of tokens, but the project ended up on Binance Launchpool proved to be incredibly successful there.
In fourth place is the BSV token, a cryptocurrency that saw the light of day during the Bitcoin hard fork. Moreover, it was very unusual: the developers could not agree and were divided into two camps, so they proposed incompatible clients – Bitcoin ABC and Bitcoin SV. Behind the BSV token (SV stands for satoshi vision) is the odious “false Satoshi” – Craig Wright. His team increased the block size to 128 MB, abandoned all updates that occurred at the time of the Bitcoin hard fork, and decided to use cryptocurrency only as a payment instrument. The entrepreneur wanted the coin to be as close as possible to the original idea of Bitcoin, as outlined in his concept (whitepaper). Ethereum co-founder Vitalik Buterin responded to this by proposing to delist BSV from exchange platforms. Over the past 24 hours, the coin has risen in price. 6% and is currently trading at $41.
Stellar was also on the list of coins that survived the collapse of cryptocurrencies least painfully. The token decline rate was -10%. And over the past 24 hours, the token has already gained almost the same amount – +9% and is trading at $0.1. Stellar is an open-source cryptocurrency network, XLM is its native token. A distinctive feature of the platform is its high transaction processing speed, scalability, energy efficiency and ease of development. The main areas of the project’s work are smart contracts, multi-currency payment for purchases on websites and in applications, one-click cryptocurrency exchange, built-in purchases within games and applications.
The TON blockchain network has gone from a project that literally the entire crypto world was waiting for, to total disappointment and back – to the pinnacle of success in the world of digital currencies. The Telegram Open Network (TON) blockchain was launched by Pavel Durov and his brother Nikolai back in 2018, but two years later they were forced to abandon the project due to litigation with the US Securities and Exchange Commission (SEC). In 2019, the SEC sued Telegram for raising $1.7 billion in an initial coin offering (ICO) using the Gram token, which the regulator called an unregistered security. The network’s native token, Toncoin, is used to pay commissions in a network that is gaining momentum at cosmic speed. Durov made a deal with the SEC, returned unused investor funds and paid a fine of $18.5 million. It is the messenger’s failed ICO that is cited as an example in the SEC’s sensational litigation with Ripple Labs, which is challenging the commission’s decision to equate its XRP token with securities.
The project could have died, but the TON network was supported by members of the TON Foundation community, they continued its development. Unlike other representatives of our rating, TON’s growth can have a logical explanation. On Thursday, August 8, the largest crypto exchange Binance conducted the listing of this cryptocurrency. Very often, such news causes the exchange rate of coins to rise. Now Toncoin is close to its maximum values and is trading at $6.38.
The leader of our growth is another coin, whose growth per day is quite understandable. Most likely, the XRP token grew on the news of the completion of the proceedings with the SEC. Let us remind you that the court fined the company $125 million, which the head of Ripple called a victory, since the SEC initially requested a fine of $2 billion. Let us recall that XRP is one of the few cryptocurrencies that cannot be mined: all 100 billion tokens were issued immediately. Ripple’s initial goal is to create technology that will improve the banking system by making payments and transfers between organizations cheaper and faster. This also applies to cross-border payments.
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