Here are the top cryptocurrencies of the week:
Bitcoin Cash The fact that Bitcoin Cash was the top cryptocurrency of the week did not surprise many industry experts, as the currency often excels when the cryptocurrency market surges. Crypto Facilities, which is a subsidiary of the popular Kraken exchange, noted that there has been a steep increase in the price of Bitcoin Cash futures. Also, Bitcoin.Travel, which is a portal that facilitates travel using cryptocurrency, just added support for the currency.
Litecoin Litecoin was actually doing well this year even before the cryptocurrency market began surging. During the first quarter, the price of the currency rose by more than 100%. In August of this year, the currency is expected to experience a halving, in which the mining reward will be cut in half, and this has helped drive the price up. Also, the Nordic Growth Market in Sweden has just begun listing exchange-traded products (ETPs) that track the value of Litecoin.
Dash Dash has long made a name for itself in inflation-stricken Venezuela, and it is expanding its presence in a number of emerging countries. This includes Columbia, where the Daexs exchange has added support for the currency. Other countries in which it is expanding its presence include Thailand as well as Zimbabwe and Turkey. In the latter two countries, inflation has lead to an increased use of digital currencies.
NEO The price of NEO increased by more than 30% this past week. It rose in spite of the fact that there was no fundamental reason for this increase. It seems to have been just one of the many ships that have been lifted by the current wave.
NEM Two pieces of good news have helped NEM rise this week. First, it released a roadmap for a system update called Catapult. They believe that changes in this update will lead to improvements in both the speed and scalability of the network, in addition to adding useful features. It was also announced that consumers in Taiwan will be able to use NEM at select stores through a payment system called RapidZ.