Weekly Top Gainers in Crypto

Good afternoon, my degenerate crypto friends. How are you doing this fine afternoon? I’m doing great, despite being a little swollen from a gum operation yesterday. Today, I want to discuss the top gainers of the week. We’ve seen some price action with ups and downs, but some assets have performed well. Hopefully, we’ll see more bullish weeks ahead.

The big gainer this week was Near Protocol. I’ve been talking about Near for a while now, and it’s one of my significant holdings. It was my fifth biggest bag, but now it’s my second after Solana, as it has nearly doubled in the past week, up 44% in the last seven days. Near is an AI protocol designed to facilitate machine-to-machine interactions, allowing AI to operate autonomously. Initially, it was a layer one protocol, but it shifted focus to AI about two and a half years ago. Near was over $20 in 2021-2022 before crashing down. I’ve been dollar-cost averaging as it dropped, buying even when it was below a dollar. Now that it’s rising, I’m almost in profit again. If Near reaches $5, $6, $7, or $10, I’ll make a significant return because I bought it when it was cheap. You have to keep the faith and stick with it.

Other Notable Gainers

Next is staked Hyperlquid B, a derivative of Hyperlid, likely involving liquid staking. You stake your Hyperlid, and they give you their version, KH hype, which can earn more interest. However, the more you stake and restake, the riskier it becomes. Hyperlid has gone up 32%, and this liquid staking derivative has risen similarly. Hyperlid is a trading platform that generates substantial revenue, more than many blockchains, though its growth potential is uncertain. It might not be the best time to buy after recent gains; waiting for a lower price could be wise.

World Coin is another gainer, up 23% this week. When it launched, it was overvalued with a market cap of $4 billion, despite being unclear what it offered. It claims to provide a new standard of trust for the internet, focusing on proof of human identity. However, it lacks clarity on its purpose, making its valuation questionable.

Ando, related to RWA assets, is another project to watch. It was over $2 before, now down to 44 cents. Ando allows purchasing tokenized assets like stocks, with payments through the blockchain. While it’s a promising project, larger chains like Ethereum, BNB, Solana, and Polygon are leading in tokenization, raising questions about Ando’s necessity.

Zcash, at number six, is known for private payments using zero-knowledge encryption. While privacy coins can be risky due to potential government crackdowns, the current administration is pro-crypto, which might offer some security.

Market Outlook

These are our top movers this week. Let’s hope for more green candles. My portfolio is recovering after a dip last month, nearing its previous high. We’re moving upwards slowly, which is preferable to extreme volatility. Since 2021, altcoins have been volatile, but a steadier climb is better for the market. A little volatility is exciting, but constant swings aren’t ideal. Have a great weekend, and I’ll see you next time.