Lead image by Hello I'm Nik 🎞 on Unsplash
March 3, 2021 - Quick observations about cryptocurrencies with +20% gains in the past 7 days!
Established Coins
According to CoinMarketCap, there are only 5 established coins (greater than $1 billion market cap) that have had +20% gains in the last week:
NEM - 47.90%
MATIC - 44.37%
BAT - 28.48%
NEAR - 22.73%
SUSHI - 21.54%
Honorable mention: ADA, which was above 20% when I started writing the article but has dipped to just 18% in the past hour.
Rising Stars
There are five +20%-gainers with less than $1B market cap but more than $500M. The rapid growth surely has these coins on their way to achieving their $1B milestones.
ENJ ($766M) - 85.07%
FLOW ($771M) - 45.10%
TFUEL ($670M) - 40.86%
RSR ($616M) - 36.22%
EWT ($508M) - 28.85%
Observations
We've been hearing whispers about ENJ for a few weeks now, and it's finally erupting. I don't know the limit for this current run, but I think there's a very positive long-term for ENJ. The parabolic growth it's currently experiencing likely can't be sustained for too much longer.
NEM's place on the list is related to the upcoming Symbol airdrop, where wallets that hold 100 NEM for the March 12 snapshot will be eligible to claim a 1:1 ratio of XYM when the Symbol mainnet goes live. Read the airdrop step-by-step guide on airdrops.io.
The rise of MATIC can likely be attributed to Polygon's strategy of going all-in on Ethereum layer 2 to solve problems associated with transaction speed and fees. According to Cointelegraph, one of the first projects to bridge over to the Polygon network, Aavegotchi, was supposed to have its mainnet launch yesterday.
BAT's big growth is likely fueled by excitement for the Brave 2.0 roadmap, which I've written about previously.
TFUEL announced plans to release mainnet 3.0 in the spring of 2021, which has been the main catalyst for growth the past few weeks.
I'm looking for feedback! I want to do more analysis like this in the future. Do you like this kind of summary-level information? Would you like to see deeper analysis or other details, like which exchanges have coins available? Let me know by leaving a comment below!
Thanks for reading!
