It’s the last week of the year and the crypto market is ending 2022 on a somewhat weak note and sticking to form. There were brief moments when the asset class entered an upward trend. However, at the moment, Bitcoin is holding just above the $16,000 support level. The market is going through a slow recovery, but some tokens are clearly outperforming the overall market. Analyst Rahul Nambiampurath reviewed Helium (HNT), Cronos (CRO), THORChain (RUNE), Ampleforth (AMPL), and iExec RLC (RLC). In choosing these assets, he pointed to several factors such as positive technical developments, important news and noticeable changes in price. Here are the details…
Analyst bullish on Helium and four separate altcoins
The Helium project and the HNT token became one of the top earners this week. HNT’s market capitalization has increased by over 11% in the past seven days, thanks to the imminent transition to the Solana network planned for Q1 2023. This leap can help the project expand its ecosystem. The move was first announced in September. cryptocoin.comAs we have also reported, Helium is a hotspot project.
Crypto.com’s rebranded Cronos (CRO) coin also had a positive week. After the team held an ecosystem update session on BubbleSwap, CroSwap, and Transak, the project’s market value increased by about 7 percent. The CRO token started last week at 5.5 cents and is currently trading around 5.9 cents.
The market cap of THORChain’s RUNE token jumped nearly 7 percent after the team noticed that the platform’s savings vaults were getting significantly higher usage. It is stated that the fact that crypto users are switching to decentralized platforms after the collapse of FTX has played a role in the rise. Rune was about $1.29 seven days ago and is now about $1.39.
Stablecoin project Ampleforth’s AMPL token is up nearly 21 percent after its team launched a bug bounty program on ImmuneFi for the SPOT token. SPOT is a new token that, according to Ampleforth, is a “permanent wrapper of AMPL that isolates supply volatility from its holders.” Last week, AMPL was trading at roughly $1.06 and is now valued at around $1.28.
iExec RLC (RLC)
After his team removed the first NFT from the Worker Pass series, the value of iExec RLC’s RLC token has increased by nearly 17 percent. The new feature allows users to earn RLC tokens by granting access to a public Workerpool. The RLC token was $1.13 last week and is currently hovering around $1.32.