The recent crypto market crash has left many investors and firms in the dirt. Bitcoin (BTC), the original cryptocurrency, has lost over 50% of its value this year. Ethereum (ETH), the second-largest crypto by market cap, also tumbled to sub-$1K levels.
However, a few crypto projects have been rallying in the greens for the last seven days. Let’s take a look at the top-performing crypto projects at the moment.
Polygon (MATIC): The popular crypto project is currently the highest rallying project in the last seven days. At press time, MATIC was trading at $0.575796, with gains of up to 50.1% in the previous seven days.
One of the many reasons the project has risen could be because Polygon announced that it had accomplished one of its essential carbon neutrality objectives. The network worked with KlimaDAO, a decentralized group of developers, entrepreneurs, and environmentalists, to reach the carbon neutrality objective.
According to a new blog post, users of the famous exchange, Coinbase can now receive ETH, MATIC, and USDC on Polygon.
The Sandbox (SAND): The widespread Ethereum-based decentralized NFT gaming metaverse saw gains of up to 45.7% in the last seven days. At press time, SAND was trading at $1.25.
Several technological juggernauts, including Microsoft and Meta, announced the formation of the so-called “Metaverse Standards Forum.” SAND’s rally kicked off soon after this event. The Metaverse Standards Forum’s goal is to promote coordination and collaboration among the numerous businesses vying for a spot on the vast metaverse and crypto landscape.
Moreover, there were rumors about Meta acquiring The Sandbox. These rumors went wild online and may have contributed to SAND’s rally. However, The Sandbox’s co-founder and COO, Sebastien Borget, said, “this will never happen.”
Shiba Inu (SHIB): Shiba Inu is undoubtedly one of the most popular crypto projects. It is a favorite among Ethereum whales and also among smaller retail investors. The project is up by 41.1% in the last seven days. At press time SHIB was trading at $0.000011567917.
According to a recent update, Shiba Inu burn portal awards will be given out over the next 48 to 72 hours. This could be a reason for SHIB to be pumping. The investors that burn the crypto will earn passive income in the form of RYOSHI incentives, which will incentivize the holders to continue the Shiba Inu burning process. Investors that burn their SHIB will receive 0.49 % of all RYOSHI transactions.
Additionally, investors eagerly await the launch of SHIB’s layer-2 network, Shibarium. Many are in the hopes of a giant pump when that happens. As per the latest update, the launch should take place in Q3 of this year.