Last week was a green one that saw Bitcoin touching nearly 31k. Although the largest cryptocurrency is now under $30k, it is still up 5.5% in the past seven days.
Having rallied 80% this year, Bitcoin has beaten traditional risk assets, including the tech-heavy Nasdaq index. The rally comes after a 12-month decline that saw prices falling by 76% and bottom out in November 2022.
Meanwhile, Ethereum rallied even stronger thanks to the Shapella upgrade finally going live. Up 75% YTD, Eth is trading near $2,100 with 12.6% in 7-day gains.
While Bitcoin and Ether have been in the green, they were not the top performers this past weekend, so let’s check them out.
Winners
Among the top 100 cryptocurrencies by market cap, the coins whose value increased the most over the weekend are:
Baby Doge Coin (BABYDOGE)
While down 5.6% on Monday with a 24-hour trading volume of $19.66 mln, Baby Doge Coin had a great weekend as it surged past $0.0000000037.
Thanks to over 20% gains on Sunday, it has been a standout token, outpacing other meme coins during the same period. Over the last seven days, BABY DOGE has been one of the top-performing assets, registering a rally of 42%.
Since the start of the year, the MemeFi project has surged by over 300%, quadrupling its market price in the process. These remarkable achievements have propelled BABY DOGE into the top 100 cryptocurrencies based on market capitalization.
At present, BABY DOGE is trading around $0.000000003417 while having a market cap of $529.7 million, with 156 quadrillion tokens in circulation.
BABY DOGE’s outstanding performance has also led to the exciting news that the token is set to be listed on one of the top five exchanges this week, one of them being KuCoin.
In contrast to most meme coins, which rely on community participation and celebrity endorsements, BABY DOGE aims to expand its utility by creating a functional ecosystem. For instance, Baby Doge Swap, a decentralized exchange built on the BSC, allows users to buy, earn, spend, farm, and stake Baby Doge Coin.
As a result, Baby Doge Swap has also experienced massive growth, with a 110% increase in its Total Value Locked (TVL) since January 1 to now stand at $60.36 million, according to data from Defillama.
Click here to learn all about Baby Doge Coin.
Render (RNDR)
RNDR had been trading under $1.6 before the weekend, and by the time Monday came out, the token had already surpassed $1.9.
Continuing its gains, RNDR is up 15% today while trading at $1.94 with a 24-hours trading volume of almost $130 mln. The token is up about 50% in the past week and only down by 4% in the past year.
One of the top performers of this month, RNDR is the native token of Render blockchain, which is aimed at making GPU rendering more accessible for music enthusiasts by bridging the gap between artists, studios, and miners in need of computing power.
Its P2P network allows for a seamless streaming and rendering experience for users, enabling improved 3D modeling and object rendering. Recently, the project announced that it is migrating to a faster and cheaper Solana network.
Click here to learn all about investing in the Render token.
Notable Mentions
Besides these two, Radix’s XRD token has seen an 8.4% surge following the launch of Babylon RCnet, and investors are optimistic about its innovative approach to scalability issues in DeFi. XRD is currently trading at $0.085 and is expected by some to reach $0.10.
Radix uses the unique Scrypto smart contract language, making it attractive for investors prioritizing security. The launch of Babylon, introducing smart capabilities, has been delayed by a month to accommodate minor changes. Radix also raised $10 million in its latest funding round to safeguard the DeFi sector.
Injective (INJ), a blockchain network built on the Cosmos ecosystem, also experienced a surge in price due to the acquisition of new network participants.
Click here to learn all about investing in Injective Protocol.
While MVRV data by Santiment shows that INJ can experience a price correction soon, the token is also on the rise on Monday, up over 6.2% to trade at $9.16. Injective has attracted considerable media attention due to its 2023 performance and several Airdrops from its native DeFi projects.
The network has been attracting several new projects in the crypto space, such as Kraken, Pyth Network, Astroport, and others that utilize its oracles, bridges, and composable smart contract layer to build DeFi applications. The project aims to bring together ETH and ATOM ecosystems into one unified world.
Other notable mentions in top weekend performers include Woo Network, Neo, Arbitrum, Rocket Pool, Casper Network, OKB, and Solana.
Losers
Now, let’s take a look at the worst performers of this past weekend:
Kaspa (KAS)
From $0.0355 before the weekend, the KAS price has fallen to $0.0263 on Monday. The latest price correction was expected by the market following the impressive gains seen by Kaspa (KAS) in recent times.
While the token is down 30% in the past two weeks, it recorded about 37% gains in the past month and hit an all-time high (ATH) at $0.0428 on April 2, 2023. KAS started 2023 at $0.0054, recording a 400% uptrend so far this year.
KAS is the native token of the next-generation blockchain Kaspa built on the GhostDAG protocol, a more generalized version of Bitcoin’s consensus. Its main goal is to provide a fast and efficient PoW consensus engine that is also secure and reliable.
Now with the release of Kaspa on Rust, the project is entering a new era of development that promises significant upgrades to its codebase. The Alpha release is expected to deliver faster performance, greater efficiency, and improved adaptability.
Klaytn (KLAY)
After surging to $0.28 on Saturday, KLAY’s price dropped and has been recording losses since then. As of writing this, KLAY is trading at $0.25, down over 5% in the past 24 hours, with a trading volume of $72.2 mln.
While up 13.6% in the past fortnight, KLAY is down almost 75% in the past year and more than 94% from its peak in March 2021.
KLAY is the native token of Klaytn, an open-source blockchain that aims to be the trust layer for the metaverse by providing high performance, scalability, low cost, rapid development, and enhanced user experience. The project was rebranded last year to facilitate international growth.
The losses come despite the South Korean blockchain company burning 5.281 billion Klay tokens, valued at over $1 billion, out of its 7.281 billion Klay reserve to fund future ecosystem opportunities.
With this move, Klatyn aims to have “sustainable tokenomics.” Klaytn will fund future projects with the remaining 2 billion tokens, and if the opportunities are not secured, they will also be burnt in three years.
The Klaytn Foundation also announced that it was leaving Krust Universe, a division of internet giant Kakao that serves as an incubator for initiatives with the potential to gain international traction.
Notable Mention
Besides these two, Stacks also has been going down after enjoying 2023 in a Bitcoin-inspired rally. Stacks (STX) is a layer-2 crypto-token built on the Bitcoin network, providing improved scalability and performance without the high energy consumption and mining costs associated with traditional PoW blockchains.
Although Stacks (STX) saw a 400% gain during Bitcoin’s rebound in early 2023, the coin has been down by 7% over the weekend, 28% in the past month, and 75% from its ATH over a year ago in Dec. 2021.
The post Top Weekend Movers: BABYDOGE, RNDR, KAS & KLAY appeared first on Securities.io.
