The world of cryptocurrencies is often associated with quick money and easy money. Even despite the recognition of bitcoin by large investment banks and funds, this impression is largely true. Endless financial pyramids, projects without ideas and meaning, fan tokens, and, finally, billions of dollars invested in memes – all this is the reality of the crypto market. According to RecentCoin, more than a thousand coins are created every day. Perhaps this is a good time to acquire digital assets.
Last week, a new meme-cryptocurrency called ElonJet Coin appeared. The new token creators will buy a Tesla teen stalker to leave Musk alone. Earlier, Jack Sweeney turned down $5,000 offered by the Tesla CEO to stop compromising his security and shut down his account. A young developer asked for 10 times more or a Tesla Model 3.
The authors of the ElonJet token are going to fulfill the demand of a student from Florida if the market capitalization of the newly minted token reaches $10 million.
Memcoins are tokens that are inspired by Internet memes, internet-shaking events, and famous people. Elon Musk’s protege, Dogecoin, started out as a bitcoin parody and even an educational tool. Over time, the joke has gone too far, and the token is now in the top 10 by market capitalization.
Cryptocurrencies with active growth
The CEEK VR token has risen in price the most over the past year — by 32,550%. At the end of November 2021, this cryptocurrency reached a maximum price of $1.19. By the end of December, it fell to $0.69.
Strong is still low as a strong coin price currently is $6.61 per (STRONG / USD). Strong is 99.79% below the all-time high of $3169.79.
The Axie Infinity token also entered the top 3 most expensive ones. Its value increased by 19,044%. At the end of December, it was trading at $111. The Sandbox was also among the most expensive digital coins. The top ten also included: Terra (+17 152%), XYO (+16 713%), Ecomi (+16 220%), Solana (+15 057%), Polygon (+14 242%), Fantom (+13 614 %) and Kadena (+10,212%).
The crypto market is recovering after a series of falls
Since the beginning of 2022, the first cryptocurrency has gone into the red zone several times. Along with Bitcoin, the rest of the cryptocurrency market collapsed. Analysts were increasingly talking about the inevitability of crypto winter, but the week that ended was a turning point for the market.
On February 7, the price of Bitcoin hit $43,000 for the first time since January 20. During the day, the cryptocurrency rose in price by 3%, the growth for the week was 13%.
The second-largest cryptocurrency in the world, Ethereum, rose in price by 17% over the past week and exceeded $3,000. The most significant increase in the top 10 coins by capitalization was demonstrated by the Solana coin (22%), which many crypto experts call one of the most promising assets of 2022.
Other cryptocurrencies outside the top 10 are also growing. For example, Elon Musk’s favorite cryptocurrency, Dogecoin, has gained 10% over the past week, and its “killer” Shiba Inu has gained 33%. In general, the crypto market reached a capitalization of $1.9 trillion by the end of the week.
The past year has been an outstanding period for most cryptocurrencies. Many cryptocurrencies have updated their historical highs, and many promising projects that could attract the attention of investors have appeared. At the same time, a positive mood remains in the crypto market, and, as analysts note, the growth trend is just beginning, and there will be new records.