- Bitfinex’s LEO tokens continue to rise after the confiscation of stolen funds in 2016.
- Uniswap rose nearly 5% this week and is looking to return to $10 per unit.
Last week, markets reacted to the order from Russia's Vladimir Putin to launch a military attack on Ukraine. First, major cryptocurrencies moved lower, led by Bitcoin (BTC); then, a recovery occurred at the beginning of the new week.
As a result, there was a certain balance between the top cryptocurrencies when the market closed on this Sunday, February 27: some closed lower, while others had a very positive week of trading.
The most successful in this list is terra (LUNA). This cryptocurrency appreciated by almost 50% between Monday, February 21 and the end of Sunday, February 27, after Luna Fund Guard raised about $1 billion to strengthen the backing of its stablecoin UST.
It also stood out among the CriptoNoticias Waves Featured Cottages, topping the list for the second week in a row; in addition to UNI, the DeFi Uniswap token surpassed Ether (ETH) as the most traded token by whales on Coinan.
This week's top cottage coins were completed by Bitfinex exchange token UNUS SED LEO (LEO); and Polkadot's DOT, whose AUSD stablecoin was recently launched.
As we said at the beginning of this bulletin, it was a week full of ups and downs as the war situation intensified. However, Bitcoin (BTC) managed to recover most of its losses for the week, closing down less than 2%.
Among the top 5 cryptocurrencies on the market, ETH behaved very similarly to BTC, closing the week down less than 1%. The same did not happen to the others: coin (BNB) and cardano (ADA) as well as Ripple's XRP fell between 5% and 7% during the period.
Terra raises $1 billion
One piece of news that could help terra (LUNA) gain momentum is that Luna Fund Guard has raised about $1 billion. The money is intended to create a BTC-valued reserve fund to strengthen the Terra stablecoin (UST).
In the past week, LUNA has grown 47%, from around $49.32 per piece to over $72. At the time of writing this announcement, the token was up another 17% during the day on Monday, February 28, following a rise in BTC which also opened in the market this week.
LUNA's total capitalization is approximately $32 billion, and cryptocurrency trading activity on the exchange has soared by nearly 50%: approximately $4.4 billion was transferred in LUNA in the last 24 hours.
LUNA is up almost 50% in the past week. Source: CoinMarketCap. Waves continue to rise, just like last week
In our top cryptocurrency newsletter last week, Waves was one of the few coins to rise, up nearly 10% between last Sunday and Monday.
Now, WAVES is once again one of the most popular products, with a 20% increase between February 21 and 27. At that time, the price per coin increased from $9 to more than $11.
In the absence of any new news leading to this increase, the currency seems to continue to rise, while expectations for its NFT Duck Fight game are growing. As happened with Terra, this cryptocurrency has received another boost at the beginning of the new week: almost 14% at the time of writing.
WAVES has a market cap of over $1.3 billion and 24-hour trading volume of over $500 million.
Waves gained 20% between Feb. 21 and 27. Source: CoinMarketCap. Uniswap makes progress on Ether in Coin Whale
In third place is UNI, the token of the Uniswap decentralized financial protocol. With the arrival of UNI, we lowered the level of growth we saw at this top: 4.49% is the percentage growth of the token in the past week.
Recent data from Whale Stats reports that Coin's top whales have seen a significant increase in UNI transactions on its BNB chain. It even surpassed the record of Ether's native cryptocurrency ETH.
With this increase, UNI rose from $ 9.35 to $ 9.77, paving the way for new levels. This week just started to exceed $10 per unit, the most recent loss of the floor.
UNI's capital is currently close to $7 billion. In addition, with a growth of almost 50%, the volume of transactions in the currency is close to $ 500 million within 24 hours.
Uniswap was close to $10 per unit in the past week. Source: CoinMarketCap. LEO stays green after identifying Bitfinex thieves
The Bitfinex hack was one of the most infamous at the time, stealing over 100,000 bitcoins from one of the major exchanges on the market. So far this year, it has made news again after funds were confiscated from the alleged thieves.
In previous weeks, the market valuation of the exchange's token UNUS SED LEO (LEO) has risen significantly. This week, it put the top together again with a gain of almost 4%.
The Bitfinex token closed hovering around $6 per unit, although it was falling earlier in the week.
LEO has a market cap of over $5.5 billion today. Traders used nearly $7 million worth of these tokens for cryptocurrency trading in 24 hours.
LEO gained another 3.92% last week, but started to fall this round. Source: CoinMarketCap. Polkadot closes the top with its stablecoin AUSD
The top was completed by Polkadot (DOT). The token rose 3.49% in the last week to close at a market value of $17.50 per unit. In that period, the tokens that make up the top 20 of the market started below $17.
This rise comes days after the coin fell like the rest of the market despite the launch of the stable coin AUSD, which was issued on Polkadot using a pledge-based protocol similar to DAI.
DOT has approximately $1.5 billion in exchange volume within a 24-hour period, while the total market value of the token in circulation is over $17.4 billion.
Polkadot (DOT) is up nearly 3.5% for the week. Source: CoinMarketCap.