After Bitcoin’s recent price downtown, Primas (PST), Bitcoin Gold (BTG), Huobi Token (HT) and REN experienced last week’s most significant positive gains. Heading into this week, here’s what you should know about each crypto.
Market Cap: $7,000,000
7-Day Increase: 43.2%
Primas is a blockchain operated with the goal of “bringing quality, credibility and accountability back to the Internet,” per the coin’s website. It’s aimed at solving issues of plagiarism and fake news on the internet
Specifically, this DApp platform functions as a network of decentralized crawlers that evaluates the credibility of digital content. The first DApp created on the platform is a publishing application called the Primas DApp.
Bitcoin Gold (BTG)
Market Cap: $475,000,000
7-Day Increase: 16.7%
A hard fork of Bitcoin, Bitcoin Gold (BTG) dates back to 2017. Specifically, Bitcoin Gold was adopted with the idea of restoring decentralization. This meant adopting a different proof-of-work mining algorithm.
Bitcoin Gold’s (BTG)’s goal was to close the gap between those who mine with specialized equipment and others who use regular computers.
Bitcoin Gold is the most widely available cryptocurrency on this list and fully-integrable with many leading cryptocurrency wallets.
Huobi Token (HT)
Market Cap: $202,000,000 USD
7-Day Increase: 16.6%
A token issued by crypto exchange Huobi, the Huobi Token HT) exists on the Ethereum blockchain, with supply limited to 500 million, per the exchange website. It is meant to be used within the Huobi environment, similar to BInance Coin (BNB).
Specifically, the Huobi Token is distributed to incentivize users. When it first launched in 2018, HT was distributed to pro users as part of larger packages. Then, 300 million tokens were in a span of 15 days to pro users.
The Huobi Token allows users to vote on exchange listing decisions, gives access to discounts. and offers liquidity.
Market Cap: $56,000,000 USD
7-Day Increase: 11.7%
Ren (REN) is a protocol built to merge financial investors with decentralized applications. Per the crypto’s whitepaper, “For many decentralised applications, in particular decentralised finance, solutions for privacy and interoperability are fundamental pieces of the puzzle that are still missing.”
REN is what’s called a “dark pool exchange”, which, unlike your typical exchange, does not have a public ledger that lists all orders. The purpose of this is make crypto investing more similar to finance, and more of a secure process for large institutional investors.
It prevents an issue known as slippage: when a buy or sell order is filled at a different amount than expected.
Which Trends Defined the Biggest Price Moves This Past Week?
Two other lower-market cap cryptocurrencies also experienced gains this week: Ultra Salescloud (UST) and the Skrumple Network (SKM), however, less is understood about their origins.
Overall, only 12 cryptocurrencies across all major exchanges experienced any form of gains in the past week. As the price of Bitcoin slips close to $10,000, the majority of the market stagnates with it.