Following the recent industry-wide downturn, the crypto market is once again starting to show signs of a positive shift. And while popular assets like Bitcoin ($BTC) and Ethereum ($ETH), have experienced a period of stagnation in recent months, it is projected that during the second half of 2023 these currencies will regain their momentum, especially as the global macroeconomic environment become clearer.
While Ethereum and Bitcoin’s recover trajectory continues to gradually take shape, a whole host of altcouns have been experiencing significant growth. Some of the key movers and shakers of the past week have been listed below, with many of these assets registering gains in excess of 50%.
Planet Token (PLANET)
The first week of June has seen Planet token become the talk of the crypto world, with the currency registering a price spike of 60% on June 5 alone. Infact, the surge catapulted PLANET to the #4 spot on the Hot Pairs List on DEXTools. At press time, the token’s liquidity stands at $3.35M while its total market capitalization lays at $39.99M. If that wasn’t enough, the digital asset has experienced a 7,000% increase in its value since making its market debut in May. These positive metrics have led to widespread claims that PLANET may be well on its way to flipping PEPE, another coin that has gained considerable traction in recent weeks.
The Planet token is part of a new blockchain initiative that aims to leverage the power of decentralized tech to usher in a new era of crypto applications. The project’s primary focus is the aforementioned PLANET token, a cryptographic asset developed for a decentralized, multidimensional ecosystem. While the specifics of the project are still under wraps, the community is eagerly awaiting more details, which are expected to be released once the project’s website is live.
Another project that has been making a name for itself in recent weeks is Refund (RFD). It currently ranks in the top 15 list of trending tokens on DEXTools.io. The asset’s price soared over 75% on June 6 only to stabilize once again. Moreover, the total number of RFD holders has risen to over 9,200, which suggests that the token is gaining more mainstream acceptance. However, despite its recent uptick in activity, RFD has witnessed a gradual downtrend since the start of June.
At its core, Refund is a community-driven cryptocurrency, created by popular crypto whale Blurr.eth who gained widespread notoriety in 2017 for accumulating a net worth of an estimated 9 figures. The true utility of the RFD token is still unfolding, but the community’s excitement for the project remains unbounded.
LBR has also been making waves, with the token’s value rocketing by 53% recently. Despite a brief retreat, holders were rewarded with another 34% surge, affording them a massive profit window. LBR now has a market cap of nearly $10 million, with the projects’ total token holders standing around 2,500. Moreover, like the assetslisted above, LBR too currently features on DEXTools’ list of trending cryptos while boasting a project reliability score of 99 out of 99.
LBR serves as thenative token for the Lybra Protocol, a decentralized system engineered to instill stability in the fluctuating realm of cryptocurrency. Constructed on the Liquid Staking Derivatives (LSD) digital infrastructure, the protocol primarily utilizes ETH proof-of-stake and stETH issued by Lido Finance as its key elements.
Released on May 8, FOUR has made notable financial strides since its market debut. To elaborate, over the past week alone, the asset has gained approx. 10% value, with a major surge coming on June 5. Since then, FOUR has continued to showcase positive monetary traction, even rising as high as #10 on DEXTools’ trending cryptos list. Additionally, it should be noted that over the last 72 hour stretch, the coin’s trading volume has risen by a staggering 2,300%, indicating a massive uptick in investor interest.