The volatility of the cryptocurrency market is well known. However, this hasn’t stopped people, businesses, and investment firms from putting their money in crypto. With so much volatility, the top crypto movers for the week have seen some noteworthy gains.
Top Crypto Movers
It is very important to note there are currently over 19,000 cryptocurrencies populated on dozens of blockchain platforms. With that said, monitoring the biggest movers of all the cryptocurrencies will generate a list from the smallest of coins. And to be honest, there is no telling how long they will be around.
The top movers for the week on this list come from Coinbase. And just because they are on Coinbase doesn’t mean they will be around either. Remember, Terra was one of the top currencies trading at $116 just in April of 2022. It is now worth $0.000098.
READ MORE: How to Make Money with Cryptocurrency
Top Movers for the Week – July 30, 2022[table “” not found /]
Top Three Movers
If you have invested in cryptocurrency, the past several months have been tough, and that is being generous. But like all financial markets, there are opportunities to make money even in a Bear market. If you happen to own the top three movers on this list, you could have doubled your money in just seven days. These currencies managed to increase by up to 105%.
Optimism/OP – Up By 105.01%
Optimism is a layer two protocol and smart contract platform looking to enable low-cost and near-instantaneous Ethereum transactions. The OP cryptocurrency powers the Token House, which will be a division of the Optimism Collective alongside the Citizens’ House. The Collective governs network parameters, treasury disbursements, and protocol upgrades.
Ampleforth Governance Token/FORTH – Up By 93.41%
FORTH is a cryptocurrency that powers Ampleforth, a protocol that automatically adjusts the supply of its native token, AMPL, in response to demand. It is Ampleforth’s governance token. FORTH holders can vote on proposed changes to the Ampleforth protocol or delegate their votes to representatives who vote on their behalf.
Yearn.finance/YFI – Up By 75.56%
Yearn.finance (YFI) is an Ethereum token that governs the Yearn.finance platform. The platform is a yield optimizer that moves funds around the decentralized finance (“defi”) ecosystem in an effort to generate a high return.
Investing in Cryptocurrency
Moving from traditional investment avenues to cryptocurrency is a big jump. But it is not that different in that you have to do your due diligence before you put up your hard-earned money. Before you invest your money in anything make sure you are fully aware of the risks. Whether it is a cryptocurrency or a traditional investment, information is your best friend.
- READ MORE: How to Buy Cryptocurrency
Based on this information make the appropriate investment according to the risk. In that regard investing in cryptocurrency is no different than any other investment. However, cryptocurrencies are not regulated, and their value seems to go up or down without any rhyme or reason. Granted they may have some great underlying value, but that doesn’t seem to have any impact as the market is primarily driven by how Bitcoin and to some extent Ethereum are doing.
As with any type of investment, you must prepare yourself to lose what you put in when investing in cryptocurrencies.
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