The crypto markets seem to be entering a recovery period, which comes after the brutal bloodbath that rocked the industry in May and June. Although many have predicted the next bull run to occur in 2024, some think the markets could flip earlier.
Nonetheless, the past week has relieved many investors as several crypto projects rallied into the greens. Ethereum’s (ETH) successful shadow fork 9 test positively impacted the community. A strong rally for ETH followed the test results, and the token jumped from $1,250 to $1,400 over the previous weekend. However, critics such as Peter Brandt called the rally “questionable.”
Regardless, let’s take a look at the…
Top crypto projects of the week
Ethereum Classic (ETC): ETC takes the top spot for the highest gains in the 7-day chart. The token recorded gains of up to 62% in the same time frame. However, the token has decreased by 7.2% in the last 24 hours.
ETC’s gains are probably because of the activity on the main Ethereum blockchain. This follows on the heels of ETH’s upcoming merge, scheduled for launch in September 2022. ETC is the inheritor of the original Ethereum blockchain.
At press time, ETC was trading at $23.16
Lido DAO (LDO): Lido DAO is the second most gainful crypto project in the 7-day charts. LDO witnessed gains of up to 57.2%, and LDO is one of the few crypto projects to recover from its June losses.
LDO’s gains are also probably due to Ethereum’s upcoming merge announcement. Customers can stake their ETH with Lido while doing on-chain activities. However, the token has decreased by 10.2% in the last 24 hours.
At press time, LDO was trading at $1.48.
Polygon (MATIC): Polygon’s bullish stride began in early July. The project introduced “liquidity staking” on its platform, allowing investors to stake their crypto while retaining the token’s liquidity.
However, Polygon’s latest rally is most like due to the launch of its zkEVM, an Ethereum-compatible scaling solution. The launch is praised as a crucial step toward Ethereum scalability and innovation using Zero Knowledge.
Although some have criticized Polygon’s latest launch, their chief information security officer has come forward to refute these comments.
Polygon has recorded gains of up to 37.1% in the last 7-days. At press time, MATIC was trading at $0.872616. However, the token has decreased by 5.1% in the previous 24 hours.