The global cryptocurrency market has been experiencing turbulent times, impacting both Bitcoin and leading altcoins. Nevertheless, in the midst of the overall market decline, some cryptocurrencies have stood out with significant growth, demonstrating the dynamic and sometimes unpredictable characteristics of the cryptocurrency industry. This week, Pendle (PENDLE), Ethereum Name Service (ENS), Turbo (TURBO), and BEFE have stood out for their impressive performance, going against the general bearish trend in the market. Let’s examine the specifics of these four coins and analyze how they have achieved significant profits.
1.Pendle (PENDLE)
Pendle has been a standout performer, witnessing a significant increase in its value. In the last week, the token’s price has risen by 17.88% to reach $6.13 today. This impressive growth has been backed by a market capitalization of $949.14 million and a trading volume of $68.3 million, over the course of 24 hours.
Having 11,093,920 PENDLE in circulation out of a total supply of 154,895,720, Pendle has shown strength in a difficult market.
Pendle’s latest success is due to its new DeFi strategy, allowing users to exchange tokenized future yield. Investors seeking new opportunities in the DeFi sector have been drawn to this distinctive value proposition.
2.Ethereum Name Service (ENS)
ENS price rose by 12.73% to trade today at $25.43, making it a successful week for the token, amongst other altcoins. The project, which makes Ethereum addresses easier to use by enabling users to register readable names, has a market cap of $803.54 million, and a trading volume of $118.8 million in the last 24 hours.
The total supply of ENS tokens is 31,594,457, with 4,664,210 currently circulating.
The increasing use of decentralized domains and recognition of its utility in the Ethereum ecosystem has fueled the demand for ENS. ENS’s knack for offering a seamless experience in engaging with blockchain addresses is still drawing in fresh users and investors.
3.Turbo (TURBO)
This week, Turbo has seen significant growth, with its price rising by 26.97% to reach $0.005852. The market cap of the memecoin is $372.64 million, accompanied by a significant trading volume of $92.64 million within the past 24 hours.
There are 15,714,820,293 TURBO tokens in circulation out of a total supply of 63,674,701,174.
Described as a meme-based cryptocurrency created by artificial intelligence (AI) for the people, TURBO started as a daring venture in the development of digital currencies. Motivated by the potential of AI, the meme coin has evolved into a decentralized community-led crypto journey.
4.BEFE (BEFE)
BEFE is also appearing on the list of best performing altcoins of the week, with a 21.30% surge in its price within the last week, currently trading at $0.0002444. BEFE may have a modest market cap of $22.78 million, but it has still drawn interest with a 24-hour trading volume of $5.19 million.
There are 20,701,938,180 BEFE tokens in circulation out of a total supply of 93,201,825,078 tokens.
BEFE is a new meme coin that aims to bring back the glory days of meme coins. It has no presale and zero taxes, making it a coin for the people. By staking BRISE, you can earn BEFE and be guided to greatness by its powerful memes. BEFE claims to be ready to dethrone coins like PEPE, Doggy, Shib, Floki, and Doge Inu as the ultimate meme king.
Conclusion
While the overall cryptocurrency market is slow, Pendle, Ethereum Name Service, Turbo, and BEFE have shown that there are still opportunities for big profits. These altcoins have resisted the downward market trend by offering unique value propositions, having a solid community backing, and constantly introducing new ideas. As the market evolves, it will be intriguing to observe the progress of these projects and determine if they can sustain their momentum despite continuous obstacles. Currently, they serve as proof of resilience and possibilities of the altcoin market.
