With Bitcoin soaring by over 30%, the cryptocurrency market has recently experienced tremendous gains. In the DeFi area and among alt-coins, Conflux ($CFX), Mask Network ($MASK), Stacks ($STX), MAGIC ($MAGIC), and Fantom ($FTM) have seen the biggest growth.
The top altcoin gainers this week are:
- Conflux ($CFX) +197.%
- Mask Network ($MASK) +129%
- Stacks ($STX) +112%
- Magic ($MAGIC) +78%
- Fantom (FTM) +63%
Conflux Network (CFX) increased by 15.6% over the previous 24 hours, 197.94% over the previous week, and 174.88% for the previous month. It has a market value of $1.1 billion and a $1.1 billion 24-hour trading volume. The price is currently $0.42004, 57% below its peak.
Blockchain researcher Andrew Yao founded Conflux in 2018 with the intention of tackling enduring issues with blockchain, such as scalability, interoperability, decentralization, and security. It uses a Proof-of-Work consensus technique and runs as a layer-1, permissionless blockchain to do this. Conflux also uses a smart-contract language akin to Ethereum.
Mask Network (MASK) increased by 37.88% during the previous 24 hours, 129% over the previous 7 days, and 58.65% over the previous month. It has a $487 million market capitalization and a $483 million 24-hour trading volume. Its price right now is $6.39442, which is 1% less than its previous peak.
Mask Network is a platform that enables users to exchange encrypted content on numerous social media sites, interact with decentralized applications, and transmit bitcoin. Using sites like Twitter and the protocol, secure communication is made possible, including the exchange of encrypted messages and bitcoin transfers.
Stacks (STX) increased by 14.72% during the previous 24 hours, 112.96% over the previous week, and 284.62% over the previous month. It has a market value of $1.7 billion and a $589,335,046 24-hour trading volume. Its price right now is $1.24438, which is 61% less than its previous peak.
A significant update to the Stacks Blockchain 2.0 that was announced on January 14, 2021, called Stacks 2.1 is about to be issued by Stack in the following days. The Bitcoin blockchain is used as the foundation for Stacks, enhancing its capabilities while utilizing its security and sturdiness. Proof of Transfer (PoX), a novel consensus method introduced by Stacks, ties the Stacks blockchain to the Bitcoin network.
By providing greater stacking, integration, and use cases with Bitcoin, the Stacks 2.1 version intends to improve the Stacks ecosystem and make it more appealing to both consumers and developers.
The height of the Bitcoin block at which Stacks 2.1 will be activated is 781,551. As of the time of publication, Bitcoin is on block 781,373.
MAGIC (MAGIC) increased by 15.29% during the previous 24 hours, 78.17% over the previous 7 days, and -17.56% over the previous month. It has a $363,267,826 24-hour trading volume and a market capitalization of $385,112,321. Its price right now is $1.81449, which is 21% less than its previous peak.
MAGIC is a member of a unique, developing class of metaverse tokens that are used as money on the decentralized Trove market to buy and sell NFTs. This token also makes it easier to connect the present and future metaverses. On this platform, a number of projects are now active, and a few more are in the planning stages. Running projects include, among others, LIFE and Smolverse.
Fantom (FTM) increased by 12.02% over the previous 24 hours, 63.34% over the previous 7 days, and 81.04% over the previous month. It has a $3,931,530,732 market capitalization and a $576,048,956 24-hour trading volume. The current price of $1.13 is a 44% decrease from its previous high.
As reported by the Fantom Foundation, Fantom is a smart-contract platform that offers great performance, scalability, and security. The platform is made up of various distinctive parts. The Fantom Opera blockchain, which serves as the base, comes first. This open-source directed acyclic graph network can execute current smart contracts and generate new ones that communicate with Ethereum contracts since it is compatible with the Ethereum Virtual Machine.