📈 Top cryptocurrencies of the week
💵 Conflux ($CFX)
Growth from July 15 to 21: +104.39%
Current price: $0.214
Conflux Network is a level 1 blockchain that started in 2018 with a hybrid PoW + PoS consensus, aimed at high throughput, security, and decentralization. CFX is the native token of the network.
The main catalyst for the growth of the CFX token was the recent announcement of the Conflux 3.0 upgrade, scheduled for launch in August. Dr. Guan Yang, the Chief Technology Officer of Conflux, spoke about the architecture of Conflux 3.0 at the Conflux conference held in Shanghai from July 18 to 20.
💵 Tezos ($XTZ)
Growth from July 15 to 21: +61.90%
Current price: $1.07
Tezos is a multifunctional decentralized blockchain platform with support for smart contracts and the ability to create tokens and decentralized applications.
On July 19, inflows of over $417,000 were recorded, marking the highest one-day figure for the month and indicating active accumulation of $XTZ.
💵 FLOKI ($FLOKI)
Growth from July 15 to 21: +42.66%
Current price: $0.0001405
FLOKI is a decentralized project that started as a meme token inspired by Elon Musk's dog. However, unlike many other meme coins, FLOKI quickly transcended the joke and transformed into a full-fledged ecosystem with real products. The project aims to unite meme culture, DeFi, the gaming industry, and education in the Web3 sphere.
Recall that on July 5, the mainnet of Valhalla was launched — a gaming platform with a Play-to-Earn model, which enhanced the utility of the $FLOKI token and triggered a rise in value.
💵 Curve DAO Token ($CRV)
Growth from July 15 to 21: +42.20%
Current price: $0.9758
The Curve DAO Token ($CRV) is the token used in the decentralized finance protocol Curve Finance, which allows users to exchange stablecoins with minimal fees and in a secure manner.
Curve Finance is an automated liquidity protocol designed for exchanging stablecoins with low fees and minimal price fluctuations.
CRV rose due to a major short squeeze on July 17 (a phenomenon of sharp price increase caused by sellers closing their positions on the exchange). As a result of the large-scale reduction, $3.9 million in short positions were liquidated.
💵 Lido DAO ($LDO)
Growth from July 15 to 21: +41.07%
Current price: $1.25
Lido DAO is a liquid staking solution available in ETH 2.0. The main function of Lido is to allow users to stake their tokens (e.g., ETH) and receive liquid tokens (e.g., stETH) in return, which can be used in other decentralized finance (DeFi) applications. The $LDO token is the governance token of Lido DAO.
On July 4, the Dual Governance mechanism was activated, which expanded the rights of stETH holders to participate in governance. This upgrade strengthened trust in the platform and contributed to the growth of the token.
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