Even as Bitcoin (CRYPTO: BTC) and Dogecoin (CRYPTO: DOGE) crashed over the last week, these Ethereum (CRYPTO: ETH) rivals struck big gains.
Terra (LUNA): The coin of a blockchain that uses fiat-pegged stablecoins to underpin price-stable global payments rose 32.57% over the last week. LUNA price touched an all-time high of $77.94 on Sunday.
Rising LUNA price meant that the coin overtook DOGE’s market cap over the weekend. At press time, LUNA enjoyed a market capitalization of $24.06 billion, while DOGE’s was worth $22.22 billion.
Terra coin prices started rising after the protocol’s Columbus-5 upgrade was initiated on Nov. 30 which involved the activation of a burn mechanism that reduced LUNA’s circulation.
The total value locked in Terra stood at $12.82 billion at press time, as per DeFi Llama.
See Also: How To Buy Terra (LUNA)
Polygon (MATIC): The coin associated with a framework for building and connecting Ethereum-compatible blockchain networks has spiked 16.08% in the last seven days. It touched an all-time high of $2.68 in May.
Polygon is set to kick off the Polygon zk day on Dec 9th where a “big announcement” is expected from the project’s team.
1/4 The countdown to “polygon zk day” has officially started!
Join @VitalikButerin along with other leading lights of the Zero-Knowledge space for a discussion about the future of SNARKs, STARKs & applications of ZK proofs.
Register Now: https://t.co/eQxFL69MkP pic.twitter.com/fgtQHIabWr
— Polygon | $MATIC – We’re hiring! (@0xPolygon) December 2, 2021
MATIC prices rose last week after cryptocurrency exchange-traded product issuer 21 Shares listed Europe’s first product linked to the performance of Polygon on the Euronext exchanges in Paris and Amsterdam.
Stacks (STX): The token of a project that aims to bring smart contracts and decentralized applications to Bitcoin saw its price rise 10.41% over last week. Stacks price touched an all-time high of $3.61 on Nov. 16.
Stacks as benefitted from an expansive ecosystem along with buzz surrounding non fungible tokens of NFTs. On Sunday, the project tweeted about the “We are V” NFT collection inspired by the dystopian “V for Vendetta” film.
‘We Are V’ NFT collection create for the Stacks community of builders pursuing financial and digital freedom for the future @TRUBIT_TECH on a mission to create a user-owned internet. https://t.co/YFDwOOxy5A
— stacks.btc (@Stacks) December 5, 2021
Other factors affecting the price of STX lately have been the launch of various city-themed coins such as NYCCoin.
Algorand (ALGO): Algorand is a blockchain-based network that supports various diverse applications. Algorand coin rose 4.59% over the last week. Its price shot up to an all-time high of $3.28 in June 2019.
Last week, Skybridge Capital’s Anthony Scaramucci said that his firm’s research department thinks that Algorand has the “potential” to flip Ethereum.
The trading volume of the coin saw a significant rise last week. At press time, the 24-hour trading volume was up 61.04% to $915.43 million.
Algorand shared a video featuring its Head of Engineering Gary Malouf showcasing “State Proofs” over the weekend. The project said, “With State Proofs, [Algorand] is the first blockchain to provide post quantum security.”
“With State Proofs, #Algorand is the first blockchain to provide post quantum security.”
Watch the replay of @GaryMalouf and Rotem Hemo’s deep dive on State Proofs, a new solution coming to Algorand early next year https://t.co/aZ5e61RCso pic.twitter.com/l2541jAGS3
— Algorand (@Algorand) December 3, 2021
OKB (OKB): The coin associated with the Malta-based cryptocurrency exchange rose 2.64% over the last seven days. OKB touched an all-time high of $44.17 in May.
OKB rose last week as trading volumes shot up, while the coins circulating supply fell. At press time, OKB trading volumes were down 6.77% to $630.7 million.
OKB is also the native token of OKDEX a decentralized finance platform.
