Hello HODLers!

Here comes our update on the top-5 performing crypto of the last week. The goal of this post is to compare the returns of the top-100 crypto projects by market capitalization on Coinmarketcap and introduce you the 5 coins that have recorded the largest price increase during the past 24 hours.

1. DODO (DODO): $5.43  (+96.57%)

DODO is a Chinese decentralized finance (DeFi) protocol and on-chain liquidity provider whose unique proactive market maker (PMM) algorithm aims to offer better liquidity and price stability than automated market makers (AMM). The PMM pricing mechanism, which mimics human trading, utilizes oracles to gather highly accurate market prices for assets. It then provides enough liquidity close to these prices in order to stabilize the portfolios of liquidity providers (LP), lower price slippage and negate impermanent loss by allowing arbitrage trading as reward. DODO also caters for new crypto projects with a free ICO listing through its Initial DODO Offering (IDO) which requires issuers to only deposit their own tokens. DODO’s smart contract operates as an ERC20 token on the Ethereum network.

Source: https://coinmarketcap.com/currencies/dodo/

Official Website: https://dodoex.io/

2. PancakeSwap (CAKE): $16.99  (+43.63%)

PancakeSwap is a decentralized exchange for swapping BEP20 tokens on Binance Smart Chain. PancakeSwap uses an automated market maker (AMM) model where users trade against a liquidity pool. Such pools are filled with users’ funds. They deposit them into the pool, receiving liquidity provider (or LP) tokens in return. They can use those tokens to reclaim their share, plus a portion of the trading fees. The LP tokens are called FLIP tokens. PancakeSwap also allows users to farm additional tokens – CAKE and SYRUP. On the farm, users can deposit LP tokens, locking them up in a process that rewards users with CAKE. Users can stake CAKE tokens to receive SYRUP, which will have further functionality as governance tokens (and as tickets in a lotteries).

Source: https://coinmarketcap.com/it/currencies/pancakeswap/

Official Website: https://pancakeswap.finance/

3. Venus (XVS): $91.81  (+35.94%)

Venus is an algorithmic money market and synthetic stablecoin protocol launched exclusively on Binance Smart Chain (BSC). The protocol introduces a simple-to-use crypto asset lending and borrowing solution to the decentralized finance (DeFi) ecosystem, enabling users to directly borrow against collateral at high speed while losing less to transaction fees. In addition, Venus allows users to mint VAI stablecoins on-demand within seconds by posting at least 200% collateral to the Venus smart contract. VAI tokens are synthetic BEP-20 token assets that are pegged to the value of one U.S. dollar (USD), whereas XVS tokens are also BEP-20-based, but are instead used for governance of the Venus protocol, and can be used to vote on adjustments—including adding new collateral types, changing parameters and organizing product improvements. The governance of the protocol is entirely controlled by XVS community members, since the Venus founders, team members and other advisors do have any XVS token allocations.

Source: https://coinmarketcap.com/currencies/venus/

Official Website: https://venus.io/

4. Ravencoin (RVN): $0.1138  (+34.65%)

Ravencoin (RVN) is an open-source blockchain project that specializes in the creation and peer-to-peer transfer of assets. Ravencoin enables users to create and trade any real-world (e.g. commodities) or digital (e.g. virtual goods) assets on a network. The core developers launched Ravencoin on 3 Jan 2018. The project has some prominent backers: Bruce Fenton, Board Member of The Bitcoin Foundation, advises the team while Overstock has made a multi-million dollar investment into the project.

Source: https://coinmarketcap.com/currencies/ravencoin/

Official Website: https://ravencoin.org/

5. Binance Coin (BNB):  $257.16  (+33.12%)

BNB was launched through an initial coin offering in 2017, 11 days before the Binance cryptocurrency exchange went online. It was originally issued as an ERC-20 token running on the Ethereum network, with a total supply capped at 200 million coins, and 100 million BNBs offered in the ICO. However, the ERC-20 BNB coins were swapped with BEP2 BNB on a 1:1 ratio in April 2019 with the launch of the Binance Chain mainnet, and are now no longer hosted on Ethereum. BNB can be used as a payment method, a utility token to pay for fees on the Binance exchange and for participation in token sales on the Binance launchpad. BNB also powers the Binance DEX (decentralized exchange).

Source: https://coinmarketcap.com/currencies/binance-coin/

Official Website: https://www.binance.com/it

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