The cryptocurrency market has seen significant gains recently with Bitcoin gaining over 30%. On the altcoin side, weekly earnings of trending projects like Conflux (CFX) and Mask Network (MASK) are in the triple digits. Here are the snow record holders for the week of March 13 and the next technical levels.
- Conflux (CFX) +197.%
- Mask Network (MASK) +129%
- Stacks (STX) +112%
- Magic (MAGIC) +78%
- Phantom (FTM) +63%
Can altcoin rally continue? What does technical analysis say?
Conflux Network (CFX) tagged its weekly earnings of 197.94% and monthly gains of 174.88% before the 10% drop in the last 24 hours. CFX currently has a market cap of $1.1 billion and a 24-hour trading volume of $1.1 billion. Its current price is trading at $0.3789, down 60% from the ATH level.
Conflux was launched in 2018 by Blockchain researcher Andrew Yao to address persistent challenges in the blockchain space such as scalability, interoperability, decentralization and security. To achieve this, it works as a layer 1 Blockchain and uses a PoW mechanism. Additionally, Conflux uses a smart contract language similar to Ethereum.
Mask Network (MASK)
MASK price increased its 7-day earnings to 129% and its monthly earnings to 58.65% at one point this week. Its market cap is $487 million and its 24-hour trading volume is $483 million. Its current price is trading near the ATH level at $5.78.
Mask Network provides a platform that allows individuals to transmit cryptocurrencies, interact with decentralized applications, and share encrypted materials on various social media platforms. The protocol allows secure communication, including sending encrypted messages and cryptocurrency transfers via platforms such as Twitter.
Stacks (STX)
Increasing its weekly earnings to 112.96% and monthly earnings to 284.62%, STX is the third most profitable altcoin project on the list.
Stack is gearing up to release Stacks 2.1, a major update for Stacks Blockchain 2.0 released on January 14, 2021, in the coming days. The altcoin project offers a unique consensus mechanism called Proof of Transfer (PoX), which connects the Stacks network to Bitcoin.
The Stacks 2.1 upgrade aims to improve the Stacks ecosystem and make Bitcoin more attractive to developers and users alike by offering better integration and use cases with Bitcoin. The activation of Stacks 2.1 will occur at Bitcoin block height 781,551. As of writing, Bitcoin is located at block 781,373.
MAGIC (MAGIC)
MAGIC performed 78.17% compared to last week and -17.56% compared to the last 30 days. Market cap is $385,112,321 and 24-hour trading volume is $363,267,826. Its current price is hovering around $1.80, down 21% from the ATH level.
MAGIC belongs to a distinct, emerging category of metaverse coins that serve as the currency on the Trove platform for trading NFTs. Additionally, it facilitates the connection between the current and future metaverse. Currently, various projects are operating on this platform, with several new projects under development. Examples of executed projects are LIFE, Smolverse and others.
As Cryptokoin.com reported, MAGIC is expected to be in trends again due to the Game Developers Conference (GDC), which will take place between March 20 and March 24.
Phantom (FTM)
Phantom (FTM) is the last altcoin project on the list with 63.34% weekly and 81.04% monthly earnings. The market cap is $3,931,530,732 and the 24-hour trading volume is $576,048,956. Its current price is trading at a 44% discount from its peak price.
Fantom is a smart contract platform that boasts high performance, scalability, and security, as described by the Fantom Foundation. A key feature is the Phantom Opera Blockchain, which serves as the foundation for the altcoin. This open-source routed network enables it to execute EVM-compliant and existing smart contracts and create new ones that interact with Ethereum contracts.
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