The crypto market experienced one of the worst declines ever over the past week, amid concerns over rising inflation and interest rates.
But the three tokens appear to have far surpassed the 50 biggest cryptocurrencies, with each seeing its share of bullish news during the week. Tron (TRX), Monero (XMR) and Algorand (ALGO) have risen in the last 24 hours, avoiding a drop in cryptocurrencies.
While losses in the crypto market appear to have stabilized after a two-week decline, TRX, XMR and ALGO are leading the recovery among the major tokens. On the other hand, Bitcoin (BTC) and Ethereum (ETH) are down 0.6% and 1.3%, respectively.
SOMETHING is recovering over 11%
ALGO, the original token on the blockchain of the same name, was the token with the best performance in the last 24 hours. The token rose over 11% to $ 0.7084, close to its weekly highs.
The bullish momentum behind ALGO stems from the fact that blockchain has become an official partner for the 2022 FIFA World Cup in Qatar. The news sparked a three-day rise in the token, which peaked at 0.7342.
Blockchain should gain a huge increase in popularity through the FIFA contract, which will give it media exposure and sponsorship. ALGO will in turn help the football organization develop digital assets.
TRX cryptocurrency with best performance this week, 30% increase
TRX, the original token on the Tron blockchain, has been greatly boosted by the launch of a new stable coin based on Tron, USDD- which will be backed by a $ 10 billion reserve.
To boost its reserve, Tron bought about $ 39 million of TRX from the open market, an increase in the token of 6.3% in the last 24 hours. TRX is now trading at $ 0.08454.
USDD currently offers an incredible 30% annual return – far higher than any other stable coin on the market. The growing attractiveness of coins benefits the TRX, as the latter is needed to achieve USDD exposure. TRX gained over 30% this week, as a result, greatly surpassing the crypto market.
XMR supported mining upgrade plans
XMR, the biggest money for privacy, rose nearly 4% to $ 215.44. Although the token has fallen significantly from the high values achieved in April, this week has been boosted due to the possibility of greater mining security.
Blockchain will introduce a tailings emission upgrade over the next 30 days to limit mining fees. It will also provide a minimum mining reward of 0.6 XMR for each mining block.
XMR prices reacted positively to the news.
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