Top 10 Cryptocurrencies with the Highest Increase in Value during Week 38
The crypto market has continued to move this week, with several digital assets posting impressive gains. Among the top performers is ASTER, a new derivatives exchange that launched in July, which has experienced a significant increase of over 655%.
ASTER's surge does not appear to be a random occurrence. The exchange, which is tied to PancakeSwap, the leading DEX on BNB Chain, is being pitched as a direct competitor to Hyperliquid.
Traders are showing interest in ASTER as the next big derivatives play. The question heading into next week is whether the momentum will favor new entrants like ASTER and MemeCore or if the majors like Binance Coin (BNB) and Polkadot (DOT) are setting up for a stronger push as liquidity rotates back.
ASTER's success can be attributed to its strong backing. The exchange is backed by YZi Labs, a company linked to CZ, the founder of Binance. Interestingly, YZi Labs was formerly known as Binance Labs.
The founder or key figure behind ASTER is not explicitly stated, but Binance founder Changpeng Zhao publicly praised ASTER's token generation and revealed that Binance's wallet is the largest holder of ASTER tokens.
Other digital assets that have posted double-digit gains include Ethereum (ETH), Polkadot (DOT), and World Liberty Financial. Immutable has seen a massive increase of 51.8%, while NEAR has increased by 17.6%. MemeCore has increased by 22%, and Monero has increased by 9.3%.
Despite the crypto market's surge, the Federal Reserve has decided not to make any interest rate cuts at this time. This decision could potentially impact the market's trajectory in the coming weeks.
As the crypto market continues to evolve, it will be interesting to see how ASTER and other new entrants fare against the established players. Stay tuned for more updates as we monitor the market's developments.
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