Top 3 altcoins of the past week

As the Bitcoin (BTC) price continues to struggle against the $100,000 mark, many altcoins are skyrocketing in value. This means that the altcoin season seems to be becoming more and more of a reality. Both memecoins in the top 100 and so-called DePIN projects are performing particularly well. Below is an overview of the top 3 best performing altcoins of the past week.

Hedera price continues to rise

Hedera (HBAR) has had an explosive week. In seven days, the altcoin rose by more than 100% to a current level of $0.33. The coin has thus reached a market capitalization of almost $12.6 billion and taken the 21st place in the list of largest cryptocurrencies.

Part of the reason for HBAR’s success lies in speculation about Brian Brooks as a potential chairman of the U.S. Securities and Exchange Commission (SEC). While other candidates appear to have a better chance, the rumors are making investors optimistic because of Brooks’ connection to the Hedera network. Moreover, technical indicators signal strong bullish momentum; the HBAR award is approaching the formation of a “golden cross.”

New altcoin Hyperliquid is rising explosively

Hyperliquid (HYPE), a high-speed layer-1 (L1) protocol, is rapidly gaining popularity. The price rose 94% last week to a current level of $14.27. Although the platform only launched at the end of November, it has already reached a market capitalization of $4.8 billion.

A key factor for its success is the recent airdrop, where 31% of the total token supply was allocated to the community. Another 38% is reserved for future expenses. With this approach, the developers of the HYPE network want to keep the platform in the hands of the community.

JasmyCoin is expanding with new collaborations

JasmyCoin (JASMY) is a cryptocurrency that runs on the Ethereum (ETH) network. It is used on the Jasmy platform, which combines blockchain and IoT (Internet of Things) to give users control over their personal data. JasmyCoin allows users to securely store, manage and, if desired, share their data with companies in exchange for rewards. Over the past seven days, the altcoin increased in value by 84.5% to a level of $0.05.

JASMY’s success is partly due to new collaborations that the blockchain network has recently concluded. For example, the platform is working with the Japanese blockchain project IoTex to further expand the DePIN market in Asia. These partnerships make investors optimistic about the future of JASMY.

The goal of JasmyCoin is to use data more fairly and transparently, while users decide for themselves what happens to their data.

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