There are several tokens that lead the market in the last 24 hours, most of them are DeFi protocol governance tokens. Some of them are crypto-currencies, as well as fairly liquid trading pairs, but with low capitalization.
A phenomenon still little understood by analysts, but very common among projects that have strong communities around them, even if they do not have a significant market.
Of the three most valued currencies this week, two are linked to the sector that has attracted the most attention from investors, DeFi, and one is a crypto-currency that peaked during the 2017 rally and since then has only been among the 50 most important currencies in use.
But in the last 24 hours until Thursday these 3 currencies have seen significant returns for their investors, as we can see in the following table with data compiled by CryptoCompare.
That’s striking is that the entire crypt currency market has been in the red for at least two days, with Bitcoin dropping more than 5%. The difference was $1,200. A harsh correction that took the whole market with it.
Powering the DeFi Market: Overview of the Top 5 DEX by Total Trading Volume
Who are the three survivors?
Loopring (LRC) – The LRC token went up 18.35% on Thursday after announcing the integration of the Band protocol’s cross-string oracles to provide pricing data for all cryptoactives that the protocol supports.
UMA – UMA is an „open source infrastructure construction project for invaluable financial contracts at Ethereum“ and its UMA token increased by 17.84% to US$22.8.
NEM (XEM) – The XEM token of the NEM protocol rose nearly 7% over what appeared to be a new listing in an exchange and the seizure of the crypto currencies linked to the hackers who stole more than $500 million in Coincheck’s XEM. The price is also rising with the launch of SYMBOL, its platform for the creation of business blockchains.
NEM Symbol update has a launch date
What is striking in these three movements is that the trio has a low volume and low market capitalization. When added together, they represent only $167 million in volume. On Thursday, another unknown crypto currency, Biotron (BTRN) appreciated 133%, being commercialized only in two exchanges: Quoine and Liquid, with only 1,900 dollars in volume.