The global digital currency ecosystem has had a difficult week, as a lot of bearish moves have occurred in the aftermath of Russian forces’ invasion of Ukraine.
The geopolitical tensions, as expected, sparked a large selloff in the broader financial ecosystem, with cryptocurrencies, led by Bitcoin (BTC), following suit.
During the Asian trading session, Bitcoin, the most popular cryptocurrency, fell more than 7.8%, trading at roughly $34.7K.
The value of the global cryptocurrency market fell to $1.57 trillion. Several altcoins, on the other hand, have maintained a remarkable growth prognosis over the last seven days.
The top highest earners for the week are reviewed in this article.
Terra (LUNA) Soars Over 51%
Terra is among the most prestigious altcoins, with a gain of more than 51% in the last week. LUNA, the network’s native token, trades for $74.83 at the time of writing. Despite the extraordinary Russia-induced market crisis, it rebounded from a low of $48.59 last week.
Terra’s strength stems from its one-of-a-kind characteristics as a blockchain protocol. It powers price-stable worldwide payment networks with fiat-pegged stablecoins. In the following week, its unique products and services are likely to enjoy even more growth.
Terra will be closely monitored to see how investors drive the coin’s price higher in the event of a widespread market recovery.
Anchor Protocol (ANC) Gains 72.10% within 24 Hours
Anchor Protocol is the 29th project on Binance Launchpool and is a Terra-based lending and borrowing protocol. On the Terra Blockchain, this protocol is the largest decentralized finance protocol. It has distinguished itself from its competitors by offering a low volatility interest rate of up to 19 percent.
Among the top 100 digital currencies, Anchor Protocol has seen the most growth. At the time of writing, it has gained 72.10 percent in the previous 24 hours. Anchor Protocol, which is currently trading at $3.77, has a lot of room to expand in the coming weeks. In the midst of the global financial markets’ uncertainty, investors believe network savings to be one of the finest solutions accessible.
Waves (WAVES) Records a 22.79% Growth
Unlike other cryptocurrencies that have been featured, WAVES has managed to withstand the recent drop in the digital currency ecosystem. At the same time, since February 24, it has been publishing a bullish rise. It is unafraid of the emotive selloffs that accompanied the Russian invasion.
WAVES has increased by 22.79 percent in the last week, trading at $11.93. It has pulled back some of its gains after that. Despite the fact that WAVES is crying for a correction, it remains one of the altcoins to keep an eye on.
