It’s time to review the top movers from the past week and better understand how the price index has been shaping up.
Top Three Movers Of The Week
Let’s jump into the top movers over the last week: Kawakami Finance, Fyeth.Finance, and MechaShiba. Fighting through the bear market, these three projects have seen impressive green numbers as of late. All three coins have a low coin market cap which means they are likely new projects and subject to extreme volatility.
The need to vet projects has never been more important than now. This week’s top movers on the BSC.News Price Index are “meme” projects or contain extremely small market caps. While many projects are posting annual gains in the hundreds of percent, only a select few have seen the APYs skyrocket into the thousands.
What is Kawakami Inu Finance
Kawakami (KKI) is a charity token that recently completed Phase 1 of their 2021 roadmap. At the time of writing, $KKI had a 7-day volume increase of over 8000%. The coin has a 24/hr trading volume over $130,000. The massive volume increase is slightly deceiving due to overall low volume.
The token recently integrated with both CoinMarketCap and CoinGecko, which surely led to more attention towards the asset. In late June, Kawakami began its rise. The coin was the top gainer listed on CoinMarketCap on June 21st. Users are looking for more gains as the Kawakami coin seeks to harness the power of Non-Fungible Tokens (NFTs) to benefit strong wild dogs.
Find Kawakami at these links:
Fyeth.finance rode a positive trend this past week as well. The European based peer-to-peer lending platform provided investors with a rise of almost 2500% last week. The market cap comes in under $1.5 Million. With just over 1,000 Twitter followers, the size of the coin certainly contributed to the big gains seen on the index.
In late June, the coin was listed on the trading exchange, Coinsbit. According to Coinsbit, the platform had a 24-hr trading volume of about $2,900 USD. Targeting users in over 200 countries, the platform attracts users to leverage loans to maximize their asset returns.
Follow Fyeth on their socials:
MechaShiba is a repeat riser on the BSC.News Price Index. After gains over 4,000% the first week of July, the protocol continued to grow in the green at 800%. The coin had a total 24-hr volume just over $120,00 at the time of writing. The protocol has been attracting users with its goal of preventing scams and exploitations.
MechaShiba is a robotic clone to the ‘DogeCoin Killer,’ Shiba Inu, on Binance Smart Chain. It recently rose into the top 10 on CoinMarketCap gainers. With strong backing from its community it recently surpassed 1000 Twitter followers. The protocol plans to grow their influence in Decentralized Finance Space (DeFi) with clean codes, token burns, fantastic merchandise, NFTs and gamification.
Where to find MechaShiba:
Wrap Up Thoughts
The ability to catch the massive gains in crypto is like a big game of whack-a-mole. Coins and tokens seem to pop up out of nowhere and rise high before disappearing fast. Investors should be aware of the influence of whales on markets as small as these. All investors should constantly be vetting their projects, especially with all the recent hacks and fear, uncertainty, and doubt (FUD). As DeFi continues to grow, the importance of knowing a project inside and out before investing is as tantamount as ever.
Source : bsc.news
Founded in 2020, BSCNews is the leading media platform covering decentralized finance (DeFi) on the Binance Smart Chain (BSC). We cover a wide range of blockchain news revolving mainly around the DeFi sector of the crypto markets. BSCNews aims to inform, educate and share information with the global investment community through our website, social media, newsletters, podcasts, research, and live ask me anything (AMA). Our content reaches hundreds of thousands of global investors who are active in the BSC DeFi space.