Week 36: Algorand (ALGO), Terra (LUNA) and Avalanche (AVAX) are the top 20 performing cryptos of the week.
This week was of course marked by the officialization of Bitcoin as the official currency in El Salvador on September 7. The market’s response was clear: the vast majority of cryptos in the world’s top 20 posted heavy losses. Bitcoin and Ethereum have lost 9.5% and 13% over the past 7 days, while Dogecoin has fallen 19.5%.
At the same time, Algorand, Terra and Avalanche are doing well with good increases of 78%, 32% and 30% respectively. Solana finishes the short list of cryptos whose price increased this week with a nice + 27%.
Algorand is a crypto that recently broke into the world’s top 20. Unknown to many crypto enthusiasts, it is nevertheless ranked in the 18th in global cryptos with 9.3 billion capitalization.
The reason for this success? Salvador, again! Indeed, El Salvador has decided to build the country’s blockchain infrastructure on the basis of the Algorand blockchain. Here is a great promotion which allows during the ALGO to flare up more than 78% over the last 7 days. With a current price of around € 1.85, the ALGO has reached an increase of 428% since the start of the year.
The Terra (LUNA) has been firmly established in the world top 20 for a while. LUNA is today the 11th largest crypto in the world. It is also the second crypto that has withstood this murky week the best.
Over the last 7 days, the price of LUNA has increased by 32%. He even paid himself the luxury of affording a new ATH yesterday September 11, 2021, with a historic record of € 37.53.
Avalanche has been booming since August. The AVAX price fell slightly around September 7, but it recovered very quickly. At the time of writing this article, the AVAX token totals a 30% increase over the last 7 days.
Avalanche is a cross-chain DeFi project that offers a very credible alternative to Ethereum? Moreover, Avalanche specifies that applications based on the Ethereum blockchain (and others) can easily migrate to the decentralized Avalanche network. AVax is now the 13th largest crypto in the world.
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