Top 5 BEST Performing Crypto

The crypto market is in full swing, as most cryptocurrencies have increased by more than 20% in the past 2 weeks. Bitcoin managed to finally climb from its low of $20,000 and breached the psychological price of $30,000 higher. Some cryptos made more than 50% in the past 30 days. In this article, we mention those top 5 best performing crypto that are in the top 50 biggest cryptos and increased the most in prices in the past 30 days.

Why are Cryptos up today?

Well, many analysts see that the bearish crypto market came to an end as Bitcoin broke higher than $25,000. Most cryptocurrencies followed and showed their true potential. Bitcoin specifically is the 7th best performing cryptos in the past 30 days, making a whooping 26% returns.

There are many reasons why cryptos gained steam again:

The collapse of big US banks
The deteriorating US dollar
Increased uncertainty in legacy markets
Economical uncertainty in the EU in light of the Russian invasion of Ukraine

**Fig.1** BTC/USD 1-day chart – GoCharting

Top 5 Best Performing Crypto

In the past 30 days, many cryptos managed to pull off nice returns. Here are the top 5 best performing crypto for the past month to-date.

#5 Wrapped Bitcoin (WBTC): + 26%

Wrapped Bitcoin (WBTC) is a type of cryptocurrency that is pegged to the value of Bitcoin. It is an ERC-20 token that is backed by Bitcoin on a 1:1 basis, meaning that for every WBTC token that is created, an equivalent amount of Bitcoin is held in reserve.

The purpose of WBTC is to enable the use of Bitcoin on the Ethereum blockchain, which has its own ecosystem of decentralized applications (dApps) and smart contracts. By wrapping Bitcoin in an ERC-20 token, it becomes compatible with the Ethereum blockchain, allowing it to be used in Ethereum-based dApps and smart contracts.

Its price lagged compared to Bitcoin for a brief period, but managed to recover and become at par with Bitcoin’s price again.

#4 Ripple (XRP): + 32 %

XRP is a digital currency that was created by Ripple Labs in 2012. It is one of the largest cryptocurrencies by market capitalization and is used as a digital asset to facilitate cross-border payments and transactions. XRP is unique among cryptocurrencies in that it is pre-mined, meaning that all of the XRP that will ever exist has already been created. XRP transactions are validated by a network of independent nodes, rather than through mining, which is the process used to validate transactions in many other cryptocurrencies like Bitcoin. The technology behind XRP is designed to facilitate fast and low-cost cross-border payments, making it an attractive option for individuals and businesses who need to move money across borders quickly and efficiently.

#3 XDC Network (XDC): + 41 %

XDC Network is a blockchain protocol that was developed by XinFin, a Singapore-based company. It is a hybrid blockchain platform that combines the features of both public and private blockchains, with the goal of creating a fast and efficient blockchain that can be used for a wide range of applications.

The XDC Network is designed to support smart contracts and decentralized applications (dApps), with a focus on enterprise use cases. It uses a proof-of-stake consensus algorithm, which is energy-efficient and helps to minimize the environmental impact of blockchain mining.

One of the key features of XDC Network is its interoperability with other blockchain networks. It supports cross-chain transactions, which means that assets can be transferred between different blockchains using XDC as an intermediary. This helps to promote greater liquidity and connectivity across different blockchain ecosystems.

#2 Injective (INJ): + 50 %

Injective Protocol is a decentralized exchange (DEX) platform that is built on the Cosmos blockchain. It aims to provide a fast, secure, and fully decentralized trading experience that is accessible to everyone.

One of the key features of Injective Protocol is its use of a Layer-2 scaling solution called the “Injective Chain.” This enables the platform to support a large number of trades per second, while also reducing transaction fees and minimizing network congestion.

Injective Protocol also offers a wide range of trading instruments, including cryptocurrencies, stocks, commodities, and more. It uses a unique “order book sniping” prevention mechanism that helps to prevent front-running and other forms of market manipulation.

#1 Mask Network (MASK): + 54 %

Mask Network is a decentralized application (dApp) that runs on top of various blockchains, including Ethereum, Binance Smart Chain, and Huobi Eco Chain. It allows users to create and manage decentralized social media profiles and to share content across different social media platforms, all while maintaining their privacy and control over their data.

One of the key features of Mask Network is its ability to “mask” or encrypt messages and content shared on social media platforms like Twitter, Facebook, and Instagram. This allows users to share sensitive information or personal data without compromising their privacy or security.

In addition to its privacy features, Mask Network also offers a range of other tools and services, including a decentralized exchange (DEX), a decentralized file storage system, and a virtual private network (VPN). These tools are designed to help users access and use the decentralized web more easily and securely.