The cryptocurrency market has seen a huge rally recently, with Bitcoin gaining over 30%. The Alt-coins and DeFi space are also making substantial profits, led by Conflux ($CFX), Mask Network ($MASK), Stacks ($STX), MAGIC ($MAGIC) and Fantom ($FTM) .

Here are the top altcoin earners of the week:

  1. Conflux ($CFX) +197.%
  2. Mask Network ($MASK) +129%
  3. Stack ($STX) +112%
  4. Magic ($MAGIC) +78%
  5. Phantom (FTM +63%

Conflux Network (CFX) It has increased 15.6% over the last 24 hours, 197.94% over the past week and 174.88% over the last month. It has a market capitalization of $1.1 billion and a 24-hour trading volume of $1.1 billion. It is currently priced at $0.42004, down 57% from its all-time high.

Conflux was started in 2018 by blockchain researcher Andrew Yao with the aim of addressing persistent challenges in the blockchain space such as scalability, interoperability, decentralization, and security. To achieve this, it operates as a layer 1 permissionless blockchain and utilizes a Proof-of-Work consensus mechanism. Additionally, Conflux uses a smart contract language similar to Ethereum.

Conflux
(@CFX trading. Source: CryptoSlate)

Mask network (MASK) It is up 37.88% in the last 24 hours, 129% in the past week and 58.65% in the last month. It has a market cap of $487 million and a 24-hour trading volume of $483 million. Its current price is $6.39442, down 1% from its all-time high.

Mask Network provides a platform that allows individuals to send cryptocurrencies, engage in decentralized applications, and share encrypted material on various social media platforms. This protocol enables secure communications, such as sending encrypted messages and transferring cryptocurrencies through platforms like Twitter.

mask
($MASK trade. Source: CryptoSlate)

Stack (STX) Gained 14.72% in the last 24 hours, 112.96% in the past week and 284.62% in the last month. It has a market capitalization of $1.7 billion and a 24-hour trading volume of $589,335,046. It is currently priced at $1.24438, down 61% from its all-time high.

Stacks is preparing for the release of Stacks 2.1, a major update to Stacks Blockchain 2.0, released on January 14, 2021. Stacks will introduce a unique consensus mechanism called Proof of Transfer (PoX) to connect the Stacks blockchain to Bitcoin.

of Stack 2.1 The upgrade aims to enhance the stack ecosystem and make it more attractive to both developers and users by providing better stacks, integrations and use cases with Bitcoin.

Stack 2.1 activation occurs at Bitcoin block height 781,551.As of press time, Bitcoin is blocked 781,373.

stack
($STX trade. Source: CryptoSlate)

magic (magic) It has increased by 15.29% in the last 24 hours, 78.17% in the past week and -17.56% in the last month. It has a market capitalization of $385,112,321 and a 24-hour trading volume of $363,267,826. It is currently priced at $1.81449, down 21% from its all-time high.

MAGIC belongs to a distinct emerging category of Metaverse tokens that serve as currency in the decentralized Trove marketplace for buying and selling NFTs. Additionally, this token facilitates linking between existing and future metaverses. Various projects are currently operating on this platform, and several new projects are in the development stage. Examples of running projects include LIFE and Smolverse.

magic
($MAGIC up 7 days. Source: CryptoSlate)

Phantom (FTM) It has increased by 12.02% in the last 24 hours, 63.34% in the past week and 81.04% in the last month. It has a market cap of $3,931,530,732 and a 24-hour trading volume of $576,048,956. It is currently priced at $1.13, down 44% from its all-time high.

Fantom is a smart contract platform that boasts high performance, scalability, and security as described by the Fantom Foundation. The platform consists of several unique components. First, there is the underlying Fantom Opera blockchain. This open-source directed acyclic graph network is compatible with Ethereum virtual machines, allowing you to run existing smart contracts and create new smart contracts that interact with Ethereum contracts.

phantom
(Source: Cryptoslate)

Read more: Bitcoin surges 10% to 9-month high

Posted In: Analytics, DeFi

By Jules

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