Crypto Craze: Top Altcoins Soar Over 100%! CFX, MASK, STX, MAGIC, FTM Lead the Way
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Crypto Craze: Top Altcoins Soar Over 100%! CFX, MASK, STX, MAGIC, FTM Lead the Way
Recently, the cryptocurrency market has seen significant gains, with Bitcoin increasing by over 30%. Altcoins and the DeFi space have also experienced substantial gains, including Conflux Network ($CFX), Mask Network ($MASK), Stacks ($STX), Magic ($MAGIC), and Phantom ($FTM).
The top-performing altcoins this week are:
Conflux Network ($CFX) +197%
Mask Network ($MASK) +129%
Stacks ($STX) +112%
Magic ($MAGIC) +78%
Phantom ($FTM) +63%
Conflux Network (CFX) has gained 15.6% in the last 24 hours, 197.94% in the last week, and 174.88% in the last month. Its market capitalization is $1.1 billion, and its 24-hour trading volume is $1.1 billion. Its current price is $0.42004, which is 57% lower than its all-time high.
Conflux Network was launched in 2018 by blockchain researcher Andrew Yao to address ongoing challenges in the blockchain space, such as scalability, interoperability, decentralization, and security. To achieve this, it operates as a layer-1, permissionless blockchain and uses a proof-of-work consensus mechanism. Additionally, Conflux uses a smart contract language similar to Ethereum.
MASK Network Over the past 24 hours, MASK Network (MASK) has increased by 37.88%, in the last week by 129%, and in the last month by 58.65%. Its market capitalization is $487 million, and its trading volume over the last 24 hours is $483 million. The current price of MASK is $6.39442, which is 1% lower than its all-time high.
MASK Network is a platform that enables individuals to spread cryptocurrency, connect with decentralized applications, and share encrypted content on various social media platforms. The protocol allows for secure communication, including sending encrypted messages and cryptocurrency transfers through platforms like Twitter.
Stacks (STX) has seen an increase of 14.72% in the last 24 hours, 112.96% in the last week, and 284.62% in the last month. It currently has a market capitalization of $1.7 billion and a trading volume of $589,335,046 in the last 24 hours. Its current price is $1.24438, which is 61% lower than its all-time high.
Stacks is preparing to release Stacks 2.1 in the coming days, which is a major update released on January 14, 2021, for the Stacks blockchain. Stacks is built on top of the Bitcoin blockchain, which extends its functionality and benefits from its security and strength. Stacks presents a unique consensus mechanism called Proof of Transfer (PoX), which connects the Stacks blockchain to Bitcoin.
The goal of the Stacks 2.1 upgrade is to enhance the Stacks ecosystem by offering better stacking, integration, and use cases with Bitcoin, making it more attractive for developers and users alike.
The Stacks 2.1 activity will be on Bitcoin block height 781,551. As of the press time, the Bitcoin block is at 781,373.
MAGIC In the last 24 hours, the value of MAGIC (MAGIC) has increased by 15.29%, in the last week by 78.17%, and decreased by 17.56% in the last month. Its market capitalization is $385,112,321 and its 24-hour trading volume is $363,267,826. Its current price is $1.81449, which is 21% lower than its all-time high.
MAGIC is a unique, emerging category token that functions as currency on a decentralized exchange marketplace, allowing for the purchase and sale of NFTs. Additionally, the token facilitates connections between existing and future metaverses. Currently, various projects are underway on this platform, including some developmental stages. Examples of ongoing projects include LIFE, Smolverse, and more.
Fantom (FTM) Over the past 24 hours, the value of Fantom (FTM) has increased by 12.02%, by 63.34% in the last week, and by 81.04% in the last month. The market capitalization is currently at $3,931,530,732 with a trading volume of $576,048,956 over the last 24 hours. The current price of FTM is $1.13, which is 44% lower than its all-time high.
Fantom is a smart contract platform that claims to provide high performance, scalability, and security, as described by the Fantom Foundation. The platform has several unique components. Firstly, Fantom operates as an opera blockchain, functioning as the foundation. It is compatible with the Ethereum Virtual Machine, an open-source directed acyclic graph network, which makes it capable of executing existing smart contracts and creating new ones that can interact with Ethereum contracts.
