Top 5 Gainers Of The Past Week: CORE, DEGEN, MEW, GHST, GFI

Key Points

• The top five gainers of the past seven days are CORE, DEGEN, MEW, GHST, and GFI, with significant price surges: 220%, 213%, 103%, 98%, and 87%, respectively.
• The impressive moves of the coins come as the BitMEX CEO shows support for meme coins.

Recently, BitMEX co-founder Arthur Hayes showed support for meme coins, telling investors not to dismiss them too quickly. In an interview with Real Vision CEO Raoul Pal, Hayes addressed the potential benefits of meme coins to the blockchain network.

“You can call this kind of thing stupid and worthless, but if it brings attention and more engineers to the field, that’s a positive asset for the chain itself.”

He also stressed the fact that networks that embrace the cultural phenomenon will be able to gain important value. He cited Solana and Ethereum as the primary examples.

Top 5 gainers of the past week

Core (CORE)

The CORE price surged by over 230% in the past seven days and now, the coin is priced at $2.69 on CoinMarketCap.

Core is a Bitcoin-powered, EVM-compatible blockchain that combines delegated Proof-of-Work and delegated Proof-of-Stake.

The other day, the project announced that a workshop on Core Chain attracted over 30 devs interested in building on the most Bitcoin aligned chain.

Core (CORE) is a blockchain protocol built on the L1 blockchain, which is fully compatible with the Ethereum Virtual Machine (EVM).

This means that it can execute Ethereum smart contracts and decentralized applications (dApps). To ensure the network’s security, the Core network is powered by the “Satoshi Plus” consensus mechanism, which combines delegated Bitcoin’s mining hash with delegated Proof-of-Stake (DPoS). The CORE token supports the protocol.

The project’s developers aim to build an infrastructure that functions at the heart of web 3.0. They offer innovative ideas to tackle the blockchain trilemma. The mainnet was released in January 2023.

The blockchain is governed by a decentralized autonomous organization (DAO), where the Core DAO is responsible for developing the Satoshi Plus ecosystem.

Core (CORE) is listed on numerous cryptocurrency exchanges like Huobi, OKX, Gate.io, Bybit, Poloniex, and several others, where users can purchase CORE tokens and trade with USDT pairs.

Degen (DEGEN)

DEGEN saw a rise in price of over 220% in the past seven days, and at the moment of writing this article, the coin is trading at $0.04 on CoinMarketCap.

Degen (DEGEN) was initially created as a reward token for members of the Farcaster Degen channel. Although it started as a meme coin, it has gained a substantial following of developers, crypto content creators, and enthusiasts who have invested in the coin.

During its initial launch, 15% of the total supply was distributed to active members of the Farcaster’s Degen channel through an airdrop, and there are plans to distribute 70% of the token’s total supply eventually.

Cat in a Dogs World (MEW)

Another star in the meme coin scenery is Mew Cat Coin, another meme coin built on Solana.

At the moment of writing this article, MEW is trading in the green on CoinMarketCap and the coin is priced at approximately $0.005, up by over 220% in the past 7 days.

The Solana ecosystem has been receiving a lot of attention in the volatile cryptocurrency market recently. Many meme coins have been experiencing significant fluctuations, and both individual and institutional investors have been actively participating in the ecosystem.

Goldfinch (GFI)

GFI’s price surged by over 90% in the past seven days, and at the moment the coin is trading at $5.59 on CoinMarketCap.

Bitget crypto exchange and Web3 company, has recently added Goldfinch tokens (GFI) to its DeFi and real-world asset (RWA) zones for spot trading. This new listing will allow Bitget users to trade GFI and take part in its RWA ecosystem. By doing so, Bitget is providing its users with a wider range of investment opportunities, bridging the traditional financial world with the emerging digital asset market.

Goldfinch is a decentralized finance platform that specializes in global credit lending. It provides credit services without requiring traditional collateral, by utilizing RWAs.

This enables a more inclusive financial ecosystem, with new lending possibilities that were previously unavailable.

Goldfinch’s yield comes from real-world lending, and its investments are collateralized off-chain. This sets it apart from the typically volatile lending market in the world of crypto.

Aavegotchi (GHST)

GHST is another coin that managed to show an impressive surge in price during the past week. GHST surged by over 95% in the past seven days, and now, the coin is trading at $2.25 on CoinMarketCap.

Last month, the project announced Base as their settlement for their upcoming L3 dedicated to Aavegotchi Gaming.

https://twitter.com/aavegotchi/status/1769757491053682987

Aavegotchi (GHST) is a governance token used in the Aavegotchi NFT Gaming protocol. Holders of GHST tokens can vote in the AavegotchiDAO, which oversees the protocol, Aavegotchi’s flagship game, the Gotchiverse, and Aavegotchi NFTs.

Aavegotchis are pixelated ghosts that are backed by the ERC-721 token standard. The Aavegotchi NFTs have dynamic metadata that changes over time based on user interaction.

The value and rarity of an Aavegotchi depend on its collateral stake, traits, and wearables.

Collateral stake is based on an Aavegotchi NFT, which manages an escrow contract holding Aave-backed ERC20 collateral or “aToken.” Traits are determined by random traits at birth, kinship, and experience (XP).

The protocol is called Aavegotchi, which is a tribute to the Aave protocol. Aave means “ghost” in Finnish, and the Aave protocol is one of the top lending protocols in DeFi. The token ticker for Aavegotchi is also quite clever, as it spells out “ghost” without the vowel.

The overall impact of meme coins in the crypto industry has been significant, but traders are also cautious regarding their extreme volatility. Meme coins are a fun and interesting phenomenon in the world of cryptocurrency.