As the market starts to show signs of recovery, many new crypto coins and some olds are climbing the charts. The top trending crypto coins right now are IBAT (Battle Infinity), BICO (Biconomy), MDT (Measurable Data Token), Synthetix (SNX), FTM (Fantom), MATIC (Polygon), and (LUNC) Terra Classic.
These crypto assets started to generate interest last week and have continued this week after Bitcoin spiked above $24k. The world’s first crypto has now retraced to above $21k levels, but the trending crypto coins continue to gather support.
7 Most Trending Crypto Coins right
Search trend volumes for the crypto coins – IBAT, BICO, MDT, and SNX were up by nearly 300% last week. The developers behind these assets have continued introducing new upgrades – making the crypto crowd bullish about them.
Battle Infinity: The Active Presale is a Success
Battle Infinity (IBAT) is the native crypto of the Battle Infinity gaming platform. It is a multiverse of metaverse that brings fantasy sports, E-sports, and DeFi elements onto a single platform. With full-fledged DeFi functionalities, games, and an NFT marketplace, Battle Infinity is performing admirably even before landing on major crypto exchanges.
The active presale of the IBAT token has been a success. It passed its soft cap target of 2000 BNB within a week and sold out nearly 22.35% of its presale supply at the time of writing.
The crypto asset started to turn heads as soon as it arrived because of its holistic approach to the crypto ecosystem. Suresh Joshi, one of its founders, said that, unlike the current market where the value of crypto rides on speculation, Battle Infinity takes a pragmatic approach to revenue creation.
The core team behind Battle Infinity is Indian, where talks about cryptocurrencies are a major topic of contention between new-age traders and the government. Authorities have tried to suppress the crypto trade because of fears of money laundering and other nefarious activities. Only after realizing the crypto is not going away has the government introduced taxation on crypto assets. And although the crypto assets are taxed at 30%, traders are hopeful that the government will introduce economic reforms.
Checkout Battle Infinity Presale
MDT Crypto: New ownership has bolstered the interest
Measurable Data Token (MDT) is a DDE or Decentralized Data Ecosystem that offers users data rewards and increases blockchain adoption through innovation. Last week, Chain, a Blockchain infrastructure solution company, bought the MDT token and its ecosystem for $100 million.
The crypto solutions company aims to increase blockchain adoption through the rewards program. That is why along with MDT, Chain has also acquired RewardMe and MeFi. RewardMe is a crypto cashback app that offers users automatic rewards for trading using cryptocurrencies. MeFi, on the other hand, is a blockchain oracle connecting capital markets.
MDT was one of the top gainers on Binance last week. This week, however, the price has retraced by 17 % and currently stands accumulated between a$0.038 to $0.037.
Your capital is at risk.
Biconomy: Became one of the top 200 crypto assets last week
Biconomy went through two spikes last week. One was on July 22nd, 2022, when the BICO price rose sharply from $0.54 to $0.59. And the second uptick was the next day when it went from $0.57 to $0.69.
The two intra-week pumps led BICO to break into the top 200 crypto assets. That said, the token has retraced as we entered the new week. The Web 3 crypto is currently trading at $0.54.
Your capital is at risk.
Synthetix: The DeFi token saw many pumps last week because of deals and announcements
Synthetix is a DeFi (Decentralized Finance) is the native token of the Synthetix Protocol. Built on the top of the Ethereum blockchain, the Synthetix protocol gibes on-chain exposure to off-chain and on-chain crypto assets. The protocol also offers users high liquid synths, synthetic assets, that give investors returns on the underlying assets without holding them.
The protocol’s aim to bring non-blockchain assets to the blockchain ecosystem is revolutionary, according to many crypto watchers. Last week, Synthetix opened a discussion about Synthetix Perps V2. Developers also announced upcoming changes, including Synthetix V3 and Futures of Atomic Swaps.
What preceded these discussions was Synthetix’s liquidity deal renewal with Jump Crypto, which led to the tokens’ 14% uptick within 24 hours last week. The token’s value has since been retraced, but not by much.
2) Before this thread starts, there’s two great tweets on upcoming Syntthetix changes
Synthetix V3 – https://t.co/L301MwTfKa
Synthetix Upcoming Releases and Midyear Review – https://t.co/zz8gJYBKJg
— Synthetix ⚔️ (✨🔴_🔴✨) (@synthetix_io) July 21, 2022
At the time of writing, Synthetix is trading at $3.32, with a 24-hour trading volume of $144 million. The rapid development last week and other announcements this week is why Synthetix is one of the top trending crypto coins.
Are you interested in Synthetix? Explore our buying Synthetix guide.
Fantom: The DAG platform is Showing Signs of Recovery
Fantom is the native crypto asset of the Fantom protocol – a DAG-based smart contract platform designed to provide DeFi services that focus on high transaction speeds. The protocol also aims to enhance the security and decentralization aspects of the crypto ecosystem.
The crypto assets went through many volatile price actions last week with many pumps and retrace. The FTM price rallied by 14% last week because it closely followed the Ethereum price action. The world’s first altcoin started painting bullish reversal patterns the previous week after the developers announced the tentative launch date of “The Merge” update.
Ethereum broke out of its $1640 resistance on Sunday before correcting to above $1.5k levels. The general sentiments regarding the token remain bullish, but many are waiting for the ETH price to punch below $1k support.
Exodus Crypto Wallet also added support for FTM recently, which might one another reason behind the bullish price action of the crypto coin.
Ever explored the growing ecosystem running on the speedy, low-cost, and EVM-compatible @FantomFDN Mainnet?
We’ve got you—FTM is fully supported in our latest update. pic.twitter.com/kAViyrZ629
— Exodus – Crypto Wallet (@exodus_io) July 22, 2022
Your capital is at risk.
Polygon: Trading more in the green since last week
Polygon (MATIC) is the native crypto of the layer-2 scaling solution: Polygon. This crypto has been trading in the green since July 20th, 2022 – making many bullish engulfing patterns.
Polygon developers announced the launch of zkEVM – a new scaling solution that’s EVM equivalent. That is, it offers users dev tools that can be used both on zkEVM and Ethereum. The EVM equivalent rolls up batches of transactions and uses ZKP to validate them in one go on the Ethereum blockchain.
We are proud to announce a giant leap forward for Ethereum scaling and ZK innovation.
Introducing Polygon #zkEVM, the first EVM-equivalent ZK L2.
Today we’re releasing a complete implementation, fully open-source, and we’re just getting started.
[1/6] pic.twitter.com/P929DRCT1y
— Polygon – MATIC 💜 (@0xPolygon) July 20, 2022
Your capital is at risk.
Terra Luna Classic: On the Road to Recovery
The original token of the Terra ecosystem made headlines last week after hitting the $0.00011 mark. The sharp spike led the crypto crowd to speculate whether the token would now find stable ground and grow.
The spike was short-lived, however, as the price corrected sharply the next day to 0.000100 before bouncing. At the time of writing, the LUNC price trades sideways within the $0.000096 and $0.000098 range.
Your capital is at risk.
Is the Crypto Recovering?
Naturally, after seeing so many tokens trading in the green, people have started to speculate if we are slowly moving out of the bear market.
That said, most experts are still telling investors to be careful. Bitcoin showed sing signs of recovery last week, moving beyond $24k. But it has now sunk below its $22k support, becoming its testing region.
That said, the market can move upside once Bitcoin stabilizes and The Merge Upgrade finally arrives. Till then, it will be important to keep an eye on the latest upgrades in the new altcoin protocols to make the crypto ecosystem more conducive to growth.
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