The year 2022 may go down in the annals of cryptocurrency history as a dark year for the industry. Bitcoin, the preeminent cryptocurrency in the world, has been decimated by the post-Covid economy, and as a direct result, the majority of alternative cryptocurrencies that are currently trading on the market have experienced the same demise. Now there has been a tiny recovery, not a significant one that recovers the values totally, but a healthy one that corrects the market a bit and provides an “optimistic” floor for the rest of the year. This improvement has taken place.
This rise has been occurring since the beginning of the third quarter of the year, and increases have been seen in recent days. These increases can be as small as that of Monero (4.20%), which you can save in your Monero wallet on Guarda, or as large as those of the 5 cryptocurrencies that have increased their value the most in the last week: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP).
Flow is the model cryptocurrency of its network, which is called FLOW. This network is distinguished by the fact that it is a blockchain-based coin that is quick, secure, and simple to develop. It was developed to ease the development process for the games, applications, and digital assets that will power the next generation of these things. Its most recent rise can be attributed to the revelation that META has added their network (FLOW) as one of the networks compatible with them. As a direct result of this, its value increased from $1.87 to $3.79 in just one day. Finally, the value stabilized a bit and fell to $3.00, which is the current value of the currency, thus recording a 49% growth over the previous week.
The example of Decred demonstrates that it is a cryptocurrency that is based on Bitcoin and it uses a hybrid mining mechanism that combines Proof of Work (PoW) and Proof of Stake to validate transactions (PoS). The price of Decred has increased by 39% from where it was trading a week ago, reaching $37.52 at the moment. In contrast to Flow, the cause for its rise is not a compelling reason but rather the volatility of the market.
Oasis Network (ROSE)
ROSE is a project that is centered on the development of a highly scalable network, which also functions inside the Cosmos ecosystem, and the generation of smart contracts that are centered on providing users with privacy and secrecy. In the case of ROSE, the growth can also be attributed to its connection with META. ROSE is currently trading at 0.1111, representing a 37% increase compared to its price one week ago.
Near Protocol (NEAR)
On its blockchain technology, the decentralized platform known as NEAR Protocol aims to make it easier for developers and operators of dApps (decentralized applications) to create and deploy their products. Its ascent is not attributable to any one cause; however, its influence may be recognized as contributing to a gain of 30% in just seven days, reaching a value of $5.58.
“Optimism is a low-cost, ultra-fast Ethereum L2 blockchain,” as described by its developers. Due to the optimistic forecasts for Ethereum’s future performance during the remainder of the year, the price of this coin has increased by 27% in the past week, reaching $1.91.
These cryptocurrencies have experienced a recent increase that has been more pronounced than that of other cryptocurrencies with a greater level of notoriety; however, when it comes to investing, you should exercise more caution than you would with cryptocurrencies whose names are associated with them, such as in the case of Bitcoin. CoinMarketCap is the one that decides what each coin is worth.