While Bitcoin (BTC) and Ethereum (ETH) lose strength and their prices fall, other cryptocurrencies ignore the downturn. Based on this, analyst Juan Ibarra has selected six cryptocurrencies that have risen while the market has bled. The price increase margins of these coins range from 12% to 34%.
Ibarra starts his list with Chiliz (CHZ), a token that has been performing very positively as the FIFA World Cup approaches.
With a jump of 34.7% in seven days, the CHZ went from R$1 to R$1.28, according to data from CoinGecko. Moreover, the asset registered a total increase of 150% between its bottom in July and the current price.
In second place, the analyst pointed out Ripple’s XRP, which had a 32% increase. As Ibarra pointed out, in the last 48 hours alone XRP has risen more than 12% and returned to mid-May levels.
In third position, he highlighted Algorand’s ALGO, with a 25% increase. Next in terms of valuation come ApeCoin (APE), Helium (HNT) and Stellar Lumens (XLM), with increases of 16%, 15% and 12%, respectively.
“Although these altcoins have risen notably in recent days, the amount of capital corresponding to each of them does not affect the accumulation for the entire market very much,” he said.
Also according to the analyst, Bitcoin and Ethereum concentrate more than 45 percent of the total market value of cryptocurrencies. Thus, the falling price of both has caused the total market value to be near its lows this year.
At the moment, the cryptocurrency market has accumulated to about $926 billion. At its lowest point so far in 2022 the accumulation reached $900 billion.
“Before this year’s crash, the total value of the more than 20,000 cryptocurrencies on the market was no less than $1 trillion. That was in the first quarter of 2021, just before the rise of BTC that led to an accumulation of nearly $3,000 trillion,” he finished.