Bitcoin Cash (BCH), Stellar (XLM), Zcash (ZEC), Basic Attention Token (BAT), and Monetha (MTH) had the biggest overall gains this week. From new listings to hard forks, here’s why these cryptocurrencies experienced the biggest price increases over the past 7 days.
The following information is Blocklr editorial staff opinion, not financial advice. All prices are listed in USD.
Bitcoin Cash (BCH)
Market Cap: $9,895,000,000
7 Day Increase: 24%
Bitcoin Cash (BCH) price has been on the move for a week as the cryptocurrency prepared to hard fork. In the past 7 days, Bitcoin Cash (BHC) price has increased from $422 to $619, though sliding slightly back down to $564. Aside from BCH’s price spike, there’s a lot cryptocurrency investors should know about the upcoming Bitcoin Cash hard fork.
Market Cap: $11,300,000
7 Day Increase: 16.6%
At over $11 million, Monetha (MTH) has the lowest coin market cap of the biggest crypto price movers of the week. This lesser-known cryptocurrency has gone from 3¢ to 5¢ in 7 days.
More specifically, Monetha (MTH) is an altcoin that operates on the Monetha platform, an app for peer-to-peer (P2P) payments. The app gives users an “online reputation” based on past transactions.
The company launched an ICO in 2017 during which they raised $37 million in 18 minutes.
Market Cap: $695,500,000
7 Day Increase: 14.5%
Zcash (ZEC) is a privacy coin, meaning that the sender, recipient and transaction amount are cryptographically obscured.
In the past week, Zcash (ZEC) price has gone from $116.07 to $133.48. Like Bitcoin Cash BCH), Zcash is preparing for a hard fork. This hard fork is part of a larger network upgrade.
Market Cap: $4,890,000,000
7 Day Increase: 13%
In the past week, Stellar (XLM) price has gone from 23¢ to 26¢. To date, Stellar (XLM) is the 6th biggest cryptocurrency by market cap.
Why has Stellar (XLM) price increased this week? Because the Stellar Organization Foundation, the nonprofit that created Stellar (XLM), will soon conduct the largest cryptocurrency airdrop ever, spurring renewed interest in the currency. Specifically, Blockchain wallet users can receive Stellar.
Additionally, Interstellar, a company backed by the Stellar Organization Foundation, recently partnered with Chain, a cryptocurrency software company for financial services companies. This has contributed to a larger increase in Stellar (XLM) price.
Basic Attention Token (BAT)
Market Cap: $302,000,000
7 Day Increase: 12.3%
Basic Attention Token (BAT) price experienced a surge following its listing on Coinbase and Coinbase Pro. In total, Basic Attention Token (BAT) price increased from 25¢ to 30¢ in 7 days. However, since Coinbase listed BAT, it’s price has fallen, This trajectory is typical of a coin before and after a new listing.
Cryptocurrency Prices This Week
Bitcoin Cash (BCH) and Zcash (ZEC) prices surged this week ahead of upcoming hard forks. Basic Attention Token (BAT) increased in price ahead of its listing on Coinbase. And Stellar (XLM) and Monetha (MTH) increased in price.
Additionally, Bitconnect (BCC) has increased by 24% in the past 7 days. However, Bitconnect, the company behind BCC, was shut down in January 2018 for being a Ponzi Scheme. Authorities have since arrested the Bitconnect mastermind. Though the operation is still shut down, BCC is still in circulation.