XRP, LDO, and LUNC are still the best performing altcoins in the ecosystem of digital currencies after a week of tremendous price movement.
As it gets ready to start the new week on a bullish note, the ecosystem of digital currencies is wriggling out of the inconsistent performances displayed over the course of the previous week. While several altcoins suffered significant losses over the last week, three digital currencies—XRP, Lido DAO (LDO), and Terra Classic (LUNC)—recorded strong gains over the preceding seven days.
Here Is A Review Of The Best-Performing Altcoins From The Last Week:
XRP
XRP’s price surged to a high of $0.54 after printing a total of 13% during the period under review, impressing many investors on both the top and bottom lines. After several weeks of range motion, XRP, at last, turned the $0.5 resistance level into strong support.
The United States Securities and Exchange Commission (SEC) and its affiliated blockchain payments company, Ripple Labs Inc., are still engaged in a contentious legal dispute over XRP. The conclusion of the legal dispute, in the opinion of many analysts, will significantly influence the cryptocurrency’s future price.
DAO Lido
The Lido DAO platform continues to dominate the Decentralized Finance (DeFi) ecosystem’s Liquid Staking Derivatives (LSD) market. Lido DAO gained enormous popularity, a trend that benefited its native token LDO, riding on its innovative offering to compound its investors’ gains.
LDO is now being traded at $2.29, up a total of 13% over the last week. LDO’s popularity helped lift it back to the high of $2.36 in the early hours of Sunday, despite the fact that it had fallen to a weekly low of $2.04.
LUNC Terra Classic
The week’s greatest performer is undoubtedly Terra Classic, whose price has increased by 26.24% to $0.000110. The token’s price has increased as a result of the significant increase it experienced over the past 24 hours when it added more than 30% to its valuation.
When the UST stablecoin was depegged about this time last year, the price of the token plummeted. LUNC is currently looking into a number of intriguing initiatives to assist restore the token’s value. Implementing a 1.2% burn tax to help support the token at $1 is one of these initiatives.