Bitcoin started the week at $42.1K, down 9% from the previous week. The cryptocurrency market has been bearish this week, despite positive news from Binance and Microstrategy.
Additionally, the crypto fear and greed index has a value of 28 today, indicating "fear." This corresponds to the current price of Bitcoin, which is about $40k at the time of writing.
With that, let's take a look at the cryptocurrencies that have been trending this week.
Klaytn (KLAY)
At the top of the list is Klaytn, a blockchain platform. This project is aimed at businesses and combines the advantages of public blockchains, such as decentralized data, with the scalability of private blockchains. It also provides developers and enterprises with cost-effective solutions.
Prior to the launch of several P2E games, NEOPIN announced the listing of its token NPT on Huobi Global yesterday. The games will be based on the Klaytn network. Furthermore, Klaytn's parent firm, Kakao, purchased a significant stake in Sakura Exchange Bitcoin, a Japanese cryptocurrency exchange (SEBC).
In addition, KLAY has plummeted by more than 7% in the last seven days.
Key Metrics*
Price - $0.9929
Market cap - $2.7 billion
Circulating supply - 2.78B KLAY
Total supply - 10.7B KLAY
CMC Rank - #45
ATH - $4.45
More details about this project can be found here.
*Data as of April 16, 2022
TrueUSD (TUSD)
TrueUSD touts itself as the first regulated stablecoin that is entirely backed by the US dollar. It is powered by the Ethereum blockchain. Also, TUSD is one of the stablecoins managed by TrustToken, a platform for the development and distribution of asset-backed tokens. TUSD can also be utilized in a variety of ways, including minting, holding, trading, and staking.
On Monday, the stablecoin ecosystem reached a market capitalization of $190 billion, just $10 million short of the $200 billion barrier.
In addition, Armanino, a leading European CPA and accounting firm, recently audited the stablecoin in real time.
Key Metrics*
Price - $1.00
Market cap - $1.37 billion
Circulating supply - 1.37B TUSD
Total supply - 1.37B TUSD
CMC Rank - #71
ATH - $1.33
More details about this project can be found here.
*Data as of April 16, 2022
Neutrino USD (USDN)
The Neutrino protocol facilitates the creation of stablecoins that are pegged to certain real-world assets such as currencies or commodities. Neutrino USD, which is part of the Neutrino ecosystem, is an algorithmic stablecoin that is pegged to the US dollar.
Furthermore, the stablecoin is backed by WAVES and utilizes the Waves protocol's staking mechanism.
Of late, USDN struggled to maintain its stability, with the stablecoin losing more than 20% of its pegged value of $1. This came after suspicions of price manipulation slammed WAVES.
Nonetheless, USDN has gained roughly 1% in the last 7 days.
Key Metrics*
Price - $0.9861
Market cap - $975 million
Circulating supply - 987M USDN
Total supply - 987M USDN
CMC Rank - #83
ATH - $1.83
More details about this project can be found here.
*Data as of April 16, 2022
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