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Top 5 Best Performing Cryptos from Last Week, and Why

Last Updated June 26, 2023 8:48 AM
Teuta Franjkovic
Last Updated June 26, 2023 8:48 AM
By Teuta Franjkovic
Ripple coins

Could this be a watershed moment for crypto? | Credit: Shutterstock

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Key Takeaways
  • Terra Classic (LUNC) price increased by 12.21%
  • Ripple (XRP) price increased by 11.06%
  • The Sandbox (SAND) price increased by 10.87%
  • Lido DAO (LDO) price increased by 8.82%
  • XDC Network (XDC) price increased by 8.37%

Over the past several years, the price of cryptocurrencies has fluctuated greatly, rising and was decreasing swiftly but 5 cryptos were the best performers. Despite the volatility, there is no denying that the cryptocurrency sector has grown significantly over the past several years. Because of the historical performance of the cryptocurrency markets, experts in the field are optimistic that this trend will continue and that 2023 will be a successful year for virtual currencies. This is encouraging for both those who are currently active in the cryptocurrency markets and those who are just beginning.

In particular, from May 29 to June 5, CCN examines five cryptocurrencies that saw the biggest price gains in this week’s cryptocurrency market:

  • Terra Classic (LUNC)

Terra Classic (LUNC), the original chain of the destroyed Terra (LUNA) ecosystem, has seen a huge increase in value. At the time of writing, LUNC was trading at $0.0001, representing an increase of 9.66% over the previous day and 13.38% in the last week hitting the 1st pace among 5 best performing cryptos.

The market capitalization of LUNC rose to $635.9 million as a result of increasing buying pressure, with almost $138 million entering the token in a single day, according to CoinMarketCa p statistics. 

The v2.1.0 upgrade proposal news, which has been receiving a lot of attention, allegedly sparked the revival. The Terra Classic blockchain will undergo its third substantial upgrade with the upcoming release, which is set for June 14. 

 Terra had also announced the arrival of new liquidity on the mainnet, thanks to the Astroport project. 

  • Ripple (XRP)

Ripple keeps pushing for growth while concentrating on its business-oriented cryptocurrency products. 

Additionally, the corporation appears to want to reiterate the idea that cryptocurrencies can completely transform the financial system and make it more efficient based on the messages it has posted on its Twitter account. 

Also, the original team of the Ripple cryptocurrency created it back in 2012, and on June 2, it celebrated its 11th birthday and, therefore, it secured the coin’s spot among 5 best performing cryptos.

Prior to the celebration, 700 million XRP coins were placed into escrow by Ripple. This decision was in line with Ripple’s long-term plan. One of these includes its intention to promote trust and confidence in the XRP ecosystem. 

Ripple’s CEO Brad Garlinghouse recently confirmed that Ripple will have spent $200 million by the time its legal dispute with the SEC of the United States is resolved.

By offering to sell XRP without first registering it with the SEC, Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen are accused by the agency of violating American securities laws.

Chairman Gary Gensler and other SEC officials, according to Garlinghouse, have made claims in the past that go against the regulator’s view that XRP qualifies as a security.

XRP jumped  by 11.06% in only a week, and at the time of writing, its 24-hour price was up by 1.93% to $0.535.

  • The Sandbox (SAND)

When it comes to its VIP collaborations, Sandbox (SAND) , the metaverse, and Play-to-Earn cryptocurrency continue to hold the top spot. The latest celeb co-lab includes Paris Hilton and her Sandbox Avatar Revolution. 

Also, Sebastien Borget, a co-founder of The Sandbox, recently expressed his opinion on AI, stating that it makes the metaverse safer by applying its technology to filter out offensive language from in-game conversations. He also stated  the company is looking to partner, invest and even acquire AI businesses that can help boost its metaverse game.

At the time of writing, SAND was up by 5.78% in the last 24 hours and 10.87% within the last 7 days, to $0.613 and secured it spot in 5 best performing cryptos listing. 

  • LIDO DAO (LDO)

On May 31, Lido’s Social Dominance sharply increased, and it has remained elevated. The so-called Social Dominance metric displays how frequently a certain asset is discussed in comparison to the other top 100 cryptocurrencies by market capitalization.

Therefore, the rising metric indicated that LDO was one of the most discussed tokens in the crypto community at the time of publication. However, the Lido ecosystem has expanded in ways that go beyond only price movement and social interaction. 

The platform recently announced that Lido V2, its most current incarnation, has been released as a result of a vote by community members. A number of new features are included in this system update that are intended to increase platform usage.

Analysts believe that as investors place more emphasis on the token, the price of the Lido DAO (LDO) token may climb. Given that the simple moving average (SMA) is building up at the level 43, more analysts predict that this will cause a spike in the price chart.

At the time of writing, the price of LDO  stood at $2.29, rising by 8.82% during the last week and became 4th best crypto performer in our list of 5.

  • XDC Network (XDC)

On May 31, the crypto exchange division of SBI, formerly known as XinFin, announced that it would implement enterprise hybrid blockchain technology. Fumiki Ozaki, the CEO of the exchange, assured that this brings to enhancing customer trading experiences and represents a fresh value proposition for the trade financing sector. 

Also, Atul Khekade, the network’s co-founder, recently spoke about the company partnering SBI VC Trade  and the platform’s goal of streamlining the Japanese trade sector through enhanced transparency, traceability, and cost savings. That made XDC one of the 5 best cryptos.

XDC rose by 8.37%  in the last week to the price of $0.034.

Disclaimer

The article does not contain trading advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. 

 

Teuta Franjkovic
About the Author

Teuta Franjkovic

Teuta is a seasoned writer and editor with more than 15 years of experience. She has expertise in covering macroeconomics and technology as well as the cryptocurrency and blockchain industries. She has worked for several publications as a journalist and editor, including Forbes, Bloomberg, CoinTelegraph, Coin Rivet, CoinSpeaker, VRWorld and Arcane Bear. Teuta began her professional career in 2005, working as a lifestyle writer at Cosmopolitan in Croatia. From there, she branched out to several other publications, covering mainly business and the economy. She then turned her attention to the world of cryptocurrency and blockchain, believing that crypto is among the most important inventions in the history of humanity. Her involvement in fintech began in 2014 and she has since lent her expertise in writing, editing and gathering information about the world of crypto, blockchain, NFTs and Web3. An all-round news hound, mentor, editor, and writer, Teuta enjoys teamwork and good communication. She holds a WSET2 diploma and has a thing for chablis, punkrock music and shoes. She also holds a double MA in Political science and Entrepreneurship.
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